Monday, July 30, 2012

Option Open Interest for 30-07-2012

Inference
The index gapped up around 5130 on the back of good global cues and steadily made its way up with not much of a resistance in between to close just below 5200 at 5199.80, a huge gain of 99.95 points. It was a perfect trend day for the Bulls with the Bears taking the day off. Looks like market participants are anticipating lollies from the RBI Governor. OI Table looks very good for the Bulls with huge addition 5100 and 5200PE Levels.
  • Call option 5400-5600 added 14.7 lacs huge amount of OI, with liquidation seen at 5200 and lower strike prices.
  • Put Option 5400-4700 added 41.5 lacs huge amount of OI, with not much change in other strike prices.
  • Highest accumulation on Call option 5400 at 55.3 lacs & 5500 at 53.4 lacs whereas Put option 5000 at 84 lacs & 5100 at 52.8 lacs.
  • Nifty Open Interest is at 2,20,44,350 up by 9,36,450 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 20,65,850 down by huge 1,29,725 with increase in price, most probably huge short covering.
  • FII’s bought 1.21 lacs Futures, most probably long addition, as their OI also increased by 21.86 lacs, and their average price per contract comes to around 5105.
  • FII’s future open contract as on date is 4.97 lacs.
  • PCR Open Interest (Volume) is comfortably moving up and now at 1.333.
  • Support at 5100 got stronger with addition of 6.54 lacs of OI for the day and below that at 5000 with highest OI of 84 lacs.
  • Resistance at 5200 looks vulnerable, with decrease in OI and above that at 5300-5500.
  • Range as per Option Table is 5130 -5236 and as per VIX is 5155 - 5245 with 5180 as the Pivot.
Option Call for 31-07-2012
Buy Nifty 5200CE above 101 for targets of 113, 126 SL - 92
Buy Nifty 5100PE above 61 for targets of 70, 87 SL - 56

India VIX : 16.60 up by 0.16 points
Call OI : 29780300
Put OI : 39690750
PCR OI : 1.333
SMR : 12.46 (Neutral to Bullish: A follow up action by the Bulls with a close above 5240NF is needed tomorrow...)