Monday, July 23, 2012

Option Open Interest for 23-07-2012

Inference
The last week addition at 5200-5300CE was not a flash in the pan, with the Bears today hammering Nifty down by 87.15 points on the back of favourable global cues to 5117.95. Nifty was just able to hold on to the psychological level of 5100 for the day, but the way CE writers have gone about their jobs, looks like it will be captured in the next trading session. The Option Table saw hug-huge addition at 5100-5200CE and liquidation at 5200PE, with the Table in a sea of red.
  • Call option 5100-5200 added 45.3 lacs huge amount of OI, with profit booking seen at 5300 and above strike prices.
  • Put Option 5100-4800 added 13.3 lacs huge amount of OI, with huge liquidation seen at 5200 and above strike prices.
  • Highest accumulation on Call option 5300 at 1.00 crore & 5400 at 85.1 lacs whereas Put option 5000 at 82.8 lacs & 5100 at 62.9 lacs.
  • Nifty Open Interest is at 2,20,08,700 down by 12,96,350 with decrease in price, whereas August series added 17.96 lacs OI, mostly 100% rollover with huge short build-up.
  • Bank Nifty Open Interest is at 15,82,550 down by 4,15,525 with decrease in price, whereas August series added 3.35 lacs of OI, mostly rolled over with some long liquidation.
  • FII’s sold huge 10.3 lacs Futures, most probably short build-up, as their OI also increased by 7.73 lacs, and their average price per contract comes to around 4961.
  • FII’s future open contract as on date is 6.52 lacs.
  • PCR Open Interest (Volume) is precariously placed just above 1 at 1.030.
  • Support at 5100 looks good with OI above 62.9 lacs, and below that at 5000, having highest OI on PE side at 82.8 lacs.
  • Initial Resistance now at 5200, with huge addition of 24 lacs for the day and above that at 5300 with OI of above 1.00 Crore.
  • Range as per Option Table is 5078 -5180 and as per VIX is 5068 - 5168 with 5160 as the Pivot.
Option Call for 24-07-2012
Buy Nifty 5100CE above 58 for targets of 74, 99 SL - 54
Buy Nifty 5100PE above 28 for targets of 37, 45 SL - 23

India VIX : 18.66 up by 1.77 points
Call OI : 40982250
Put OI : 42210800
PCR OI : 1.030
SMR : 18.12 (Bearish : Bears made it clear that they want Expiry at the lowest, will the Bulls get out of coma...)