Thursday, August 23, 2012

Option Open Interest for 23-08-2012

Inference
Nifty opened positive on the back of good global cues and made a laboured move towards 5450, from where it was sold off to the day’s low around 5393. A small pullback towards the end saw the index close flat at 5415.35, a small gain of 2.50 points. The OI Table saw huge liquidation at 5500-5300PE levels..
  • Call option 5500 added 2.62 lacs huge amount of OI, with huge liquidation seen at 5400 and lower strike prices.
  • Put Option 5500-5300 saw huge liquidation, with profit booking seen at 5100 and lower strike prices.
  • Highest accumulation on Call option 5500 at 1.03 Cr & 5400 at 62.8 lacs whereas Put option 5300 at 99.4 lacs & 5100 at 99.4 lacs.
  • Nifty Open Interest is at 2,58,54,050 down by 2,76,200 with not much change in price, probably long liquidation.
  • Bank Nifty Open Interest is at 18,37,650 down by 5,375 with small decrease in price, most probably small long liquidation.
  • FII’s bought just 650 Futures, most probably long build-up, as their OI also increased by 9.95 lacs, and their average price per contract comes to around 5165.
  • FII’s future open contract as on date is 6.85 lacs.
  • PCR Open Interest (Volume) is still at 1.845.
  • Initial support still at 5400 though some liquidation was seen but OI still at healthy 78.4 lacs below that at 5300 with OI above 99 lacs.
  • The only resistance which is getting better by the day is right now at 5500 with OI of 1.03 Cr.
  • Range as per Option Table is 5373 -5465 and as per VIX is 5370 - 5461 with 5400 as the Pivot.
Option Call for 24-08-2012
Buy Nifty 5400CE above 56 for targets of 72, 93 SL - 52
Buy Nifty 5400PE above 27 for targets of 36, 46 SL - 24

India VIX : 16.12 up by 0.12 points
Call OI : 32428300
Put OI : 59821200
PCR OI : 1.845
SMR : 8.74 (Bullish: Momentum is getting lost, but it’s still not out of hands of Bulls, the Bears needs a minimum close below 5400 level to gain psychological advantage...)