Tuesday, August 7, 2012

Option Open Interest for 07-08-2012

Inference
What a day for the Bulls, Nifty opened flat but carried on the bullish momentum to end the day at 5336.70, a huge gain of 54.15 points, and in the event closed above the psychological level of 5300. The Option Table saw huge-huge addition at 5400-5100PE levels and now 5200 looks like a strong base.
  • Call option 5400-5700 added 13.2 lacs huge amount of OI, with huge liquidation seen at 5300 and lower strike prices.
  • Put Option 5500-5000 added 54.94 lacs huge amount of OI, with profit booking seen at 4900 and lower strike prices.
  • Highest accumulation on Call option 5500 at 92.8 lacs & 5400 at 72.1 lacs whereas Put option 5000 at 1.05 Cr & 5100 at 78 lacs.
  • Nifty Open Interest is at 2,32,19,300 up by 7,19,800 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 23,19,500 up by 1,22,825 with increase in price, most probably long build-up.
  • FII’s bought huge 15.39 lacs of Futures, most probably long addition, as their OI also increased by 18.3 lacs, and their average price per contract comes to around 5174.
  • FII’s future open contract as on date is 5.86 lacs.
  • PCR Open Interest (Volume) has jumped to 1.462 due to huge addition at 5300-5100PE levels.
  • Initial support at 5300 with huge addition of 16.86 lacs for the day with OI now at 56.6 lacs, and below that at 5200PE with OI of above 63.8 lacs.
  • Resistance is still very good at 5400 with huge OI of 72.1 lacs and above that at 5500 with OI above 92.77 lacs.
  • Range as per Option Table is 5276 -5375 and as per VIX is 5291 - 5382 with 5310 as the Pivot.
Option Call for 08-08-2012
Buy Nifty 5400CE above 51 for targets of 62, 74 SL - 47
Buy Nifty 5300PE above 62 for targets of 74, 91 SL - 59

India VIX : 16.21 down by 0.01 points
Call OI : 35397650
Put OI : 51742350
PCR OI : 1.462
SMR : 11.09 (Bullish: Bears have gone into hibernation and the Bulls are making merry, but they need to be cautions now at higher levels...)