Tuesday, September 4, 2012

Option Open Interest for 04-09-2012

Inference
Nifty opened weak and remained so in a narrow range for the better part of the day. A surge towards the close of day took Nifty above the previous day’s close and into positive territory to close at 5274.00 a smart gain of 20.25 points. The Option Table, for the time being though doesn't show much positivity and still very much tilted towards the Bears.
  • Call option 5300-5800 added 21.11 lacs huge amount of OI, with small liquidation seen at 5200 and below strike prices.
  • Put Option 5300-4800 added 17.83 lacs huge amount of OI, with small liquidation seen at 5400 and above strike prices.
  • Highest accumulation on Call option 5500 at 62.6 lacs & 5600 at 62.5 lacs whereas Put option 5200 at 65.9 lacs & 5000 at 55.8 lacs.
  • Nifty Open Interest is at 1,89,26,400 down by 8,18,100 with increase in price, most probably short covering/long liquidation.
  • Bank Nifty Open Interest is at 15,70,850 down by 25,125 with decrease in price, most probably some short covering.
  • FII’s sold huge 6.65 lacs Futures, most probably long liquidation as their net OI also decreased by 13.86 lacs, and their average price per contract comes to around 5255.
  • FII’s future open contract as on date is 3.79 lacs.
  • PCR Open Interest (Volume) is again down for the day at 1.027 though Nifty closed in Green.
  • Support at 5200 is getting stronger by the day with highest OI of 65.9 lacs and below that at 5100-5000.
  • Huge resistance at 5400 with OI of 62.4 lacs and above that at 5500-5600 range with OI above 62.5 lacs each.
  • Range as per Option Table is 5222 -5311 and as per VIX is 5228 - 5330 with 5270 as the Pivot.
Option Call for 05-09-2012
Buy Nifty 5300CE above 81 for targets of 88, 95 SL - 75
Buy Nifty 5300PE above 89 for targets of 98, 114 SL - 85

India VIX : 16.59 down by 0.69 points
Call OI : 33761050
Put OI : 34658250
PCR OI : 1.027
SMR : 16.16 (Bearish: A Green close, but Option Table is not very convinced and still very much tilted towards the Bears, maybe a few more Green close can do the trick...)