Monday, August 27, 2012

Option Open Interest for 27-08-2012

Inference
Nifty had a perfect trend day, with open at the highs and close at the lows with no intra buying seen at all. Weakness was seen throughout with Bank Nifty losing huge 1.77% though Nifty lost just 0.68% or 36.45 points to close the day at 5350.25. The OI Table saw good addition at 5400CE and huge liquidation at 5400PE.
  • Call option 5300-5400 added 13.55 lacs huge amount of OI, with profit booking at 5500 and higher strike prices.
  • Put Option 5300 added 3.28 lacs huge amount of OI, with huge liquidation seen at 5400 and above strike prices.
  • Highest accumulation on Call option 5500 at 1.06 Cr & 5400 at 66.5 lacs whereas Put option 5300 at 1.08 Cr & 5000 at 96.9 lacs.
  • Nifty Open Interest is at 2,34,87,300 down by 18,16,400 whereas Sep series added 25.85 lacs OI with decrease in price, probably long liquidation in present series and short addition in next series.
  • Bank Nifty Open Interest is at 17,19,600 down by 85,400 whereas Sep series added 1.74 lacs OI with decrease in price, probably long liquidation in present series and short addition in next series..
  • FII’s bought huge 6.82 lacs Futures, most probably long build-up, as their OI also increased by 6.5 lacs, and their average price per contract comes to around 5100.
  • FII’s future open contract as on date is 7.06 lacs.
  • PCR Open Interest (Volume) is cooling down and now at 1.788 due to huge liquidation seen at 5400PE.
  • The Big support is still around 5300 with OI at 1.08 Cr.
  • New found resistance at 5400 with huge OI addition of 10.8 lacs and above that the Wall of Chine at 5500 with OI of above 1.06 Cr.
  • Range as per Option Table is 5316 -5415 and as per VIX is 5304 - 5396 with 5365 as the Pivot.
Option Call for 28-08-2012
Buy Nifty 5400CE above 19 for targets of 30, 46 SL - 15
Buy Nifty 5400PE above 49 for targets of 58, 68 SL - 41

India VIX : 16.47 up by 0.31 points
Call OI : 31015450
Put OI : 55470700
PCR OI : 1.788
SMR : 9.21 (Neutral: So Bears ultimately made good inroads with 5400 level taken over with authority and the Bulls giving up hope...)