Friday, August 3, 2012

Option Open Interest for 03-08-2012

Inference
The index opened weak below 5200 and was sold off to the lows of 5170 form where the responsive buyers took control and moved the index above 5200 but closed just below the previous day’s close at 5215.70 a smallish loss of 12.05 points. Week on week the index gained 115.85 points or about 2.27%. It was a good pullback when the chips were downs, which shows the intent of the Bulls to keep the index above 5200. The OI Table saw 5000PE crossing 1 Cr for the day.
  • Call option 5300-5500 added 19.61 lacs huge amount of OI, with small liquidation seen at 5000 and lower strike prices.
  • Put Option 5200-5000 added 17.0 lacs huge amount of OI, with profit booking at 4800 and below strike prices.
  • Highest accumulation on Call option 5500 at 80.3 lacs & 5400 at 61.3 lacs whereas Put option 5000 at 1.03 Cr & 5100 at 65.2 lacs.
  • Nifty Open Interest is at 2,24,00,250 down by 1,78,450 with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 21,48,225 down by 11,800 with decrease in price, most probably long liquidation.
  • FII’s sold 7.23 lacs of Futures, most probably short addition, as their OI also increased by 2.54 lacs, and their average price per contract comes to around 5122.
  • FII’s future open contract as on date is 5.39 lacs.
  • PCR Open Interest (Volume) is at 1.348 due to huge profit booking at 4800 and below strike PE.
  • Support at 5100 getting better by the day with OI now above 65 lacs, and below that at 5000PE with OI of above 1 Cr.
  • Resistance is very good at 5300 with huge addition of 8 lacs for the day and above that at 5400-5500 with OI above 61 and 80 lacs.
  • Range as per Option Table is 5154 -5255 and as per VIX is 5172 - 5260 with 5220 as the Pivot.
Option Call for 06-08-2012
Buy Nifty 5300CE above 55 for targets of 62, 71 SL - 49
Buy Nifty 5200PE above 77 for targets of 89, 110 SL - 74

India VIX : 16.12 down by 0.65 points
Call OI : 34734350
Put OI : 46834500
PCR OI : 1.348
SMR : 11.96 (Bullish: Nifty saw a weak opening, but the Bears were unable to hold onto gains and let the Bulls take control...)