Thursday, August 30, 2012

Option Open Interest for 30-08-2012

Inference
What started as a Bear oriented Expiry turned out to be an exception expiry for the Bulls with the 5300CE writers taken to the cleaners. The Bulls did the job when it mattered most to move Nifty from the dump at 5255 to the highs of 5342.80 to settle at 5315.05 a cool gain of 27.25 points and in the process captured the psychological level of 5300. Looking at the OI Table it’s just early days but an initial range of 5200-5600 is developing.
  • Call option 5100-5800 added 31.37 lacs huge amount of OI, with small addition seen at lower strike prices.
  • Put Option 5300-4800 added 46.46 lacs huge amount of OI, with small liquidation seen at 5400 and above strike prices.
  • Highest accumulation on Call option 5600 at 37.6 lacs & 5500 at 36.5 lacs whereas Put option 5200 at 56 lacs & 5300 at 45.8 lacs.
  • Nifty Open Interest is at 2,04,94,000 up by 51,33,800 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 15,28,225 up by 5,23,150 with increase in price, most probably huge long build-up.
  • FII’s bought huge 17.57 lacs Futures, most probably long build-up, and their average price per contract comes to around 5259.
  • FII’s future open contract as on date is 4.50 lacs.
  • PCR Open Interest (Volume) at the start of the series is just above at 1.10.
  • Initial developing support at 5300 and below that at 5200 with highest OI of 56 lacs.
  • Initial resistance at 5400 with huge OI of 35.1 lacs and above that at 5500-5600 range.
  • Range as per Option Table is 5262 -5354 and as per VIX is 5269 - 5361 with 5320 as the Pivot.
Option Call for 31-08-2012
Buy Nifty 5300CE above 1055 for targets of 114, 123 SL - 99
Buy Nifty 5300PE above 84 for targets of 93, 107 SL - 79

India VIX : 16.67 down by 0.07 points
Call OI : 23725000
Put OI : 26106800
PCR OI : 1.100
SMR : 15.15 (Neutral: A new series with initial range of 5200-5600 with base building at 5200 on, Bears need to take control in the initial stage or else Bulls will stamp their authority...)