Thursday, September 6, 2012

Option Open Interest for 06-09-2012

Inference
Nifty opened flat and oscillated within a narrow range of 10 points keeping the previous days close as Pivot. Strong buying during the afternoon session saw Nifty move towards the highs of the day at 5260, but the Bulls were unable to hold on and the index closed near the lows at 5238.40 a small gain of just 12.70 points. The Option Table saw huge addition at lower levels PE with small liquidation at 5300PE Level.
  • Call option 5200-5400, 5600 added 15.86 lacs huge amount of OI, with small profit booking seen at 5500 strike price.
  • Put Option 5200-4800 added 24.84 lacs huge amount of OI, with liquidation seen at 5300 and above strike prices.
  • Highest accumulation on Call option 5400 at 70.9 lacs & 5500 at 66.4 lacs whereas Put option 5200 at 73.2 lacs & 5000 at 65.8 lacs.
  • Nifty Open Interest is at 1,78,05,450 down by 9,44,550 with not much increase in price, most probably short covering/long liquidation.
  • Bank Nifty Open Interest is at 16,56,425 down by 63,700 with increase in price, most probably huge short covering.
  • FII’s sold huge 6.66 lacs Futures, most probably long liquidation as their net OI decreased by 9.94 lacs, and their average price per contract comes to around 5110.
  • FII’s future open contract as on date is 3.63 lacs.
  • PCR Open Interest (Volume) is back above 1 and now at 1.007 due to huge addition at 4900PE.
  • Best Support at 5200 with OI of 73.2 lacs and below that at 5100-5000.
  • Resistance at 5300 got better with hugr addition for the day at 6.5 lacs and above that at 5400 with highest OI of 70.9 lacs.
  • Range as per Option Table is 5196 -5283 and as per VIX is 5192 - 5285 with 5256 as the Pivot.
Option Call for 07-09-2012
Buy Nifty 5300CE above 61 for targets of 70, 79 SL - 57
Buy Nifty 5200PE above 55 for targets of 64, 74 SL - 51

India VIX : 16.98 down by 0.03 points
Call OI : 36987100
Put OI : 37255450
PCR OI : 1.007
SMR : 16.86 (Bearish: Option Table is not showing any signs of positivity though Nifty closed in Green, and to add insult to injury 5300PE saw liquidation of around 4% OI...)