Monday, August 6, 2012

Option Open Interest for 06-08-2012

Inference
The index opened huge up due to good global cues and then consolidated within a narrow range of 32 points for the entire session. Nifty tried to scale 5300 but was unable to sustain above 5290 but still managed to close strong at 5282.55 a huge gain of 66.85. The Option Table saw huge addition at 5300PE and 5400CE with 5000PE OI still very much above 1.03 Cr.
  • Call option 5300-5700 added 26.58 lacs huge amount of OI, with huge liquidation seen at 5200 and lower strike prices.
  • Put Option 5400-5000 added 22.79 lacs huge amount of OI, with huge profit booking at 4800 and below strike prices.
  • Highest accumulation on Call option 5500 at 83.9 lacs & 5400 at 71.7 lacs whereas Put option 5000 at 1.03 Cr & 5100 at 67.7 lacs.
  • Nifty Open Interest is at 2,24,99,500 up by 99,250 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 21,96,675 up by 48,450 with increase in price, most probably long build-up.
  • FII’s bought huge 7.95 lacs of Futures, most probably long addition, as their OI also increased by 5.23 lacs, and their average price per contract comes to around 5164.
  • FII’s future open contract as on date is 5.50 lacs.
  • PCR Open Interest (Volume) has gone down a bit and now at 1.313 due to huge profit booking at 4700PE level.
  • Initial support at 5200 with OI now above 52.5 lacs, and below that at 5100PE with OI of above 67.7 lacs.
  • Resistance is still very good at 5300 with huge addition of 2.99 lacs for the day and above that at 5400-5500 with OI above 71 and 84 lacs.
  • Range as per Option Table is 5232 -5330 and as per VIX is 5238 - 5327 with 5260 as the Pivot.
Option Call for 07-08-2012
Buy Nifty 5300CE above 75 for targets of 82, 95 SL - 70
Buy Nifty 5300PE above 83 for targets of 93, 108 SL - 79

India VIX : 16.22 up by 0.10 points
Call OI : 36109750
Put OI : 47413250
PCR OI : 1.313
SMR : 12.35 (Bullish: Looks like the Bears are not just ready to move out of 5300 Strike price right now, Bulls need to be cautious at higher levels...)