Friday, September 7, 2012

Option Open Interest for 07-09-2012

Inference
It was ‘one way ticket to the blue’ for Nifty, as it opened up huge above 5300 and made newer highs with each passing hour to close nearly at the highs of the day at 5342.10 a huge gain of just 103.70 points. The Option Table for a change saw huge makeover with 5300CE writers covering around 16 lacs OI and 5300PE writers adding the same amount.
  • Call option 5600-5800 added 10.05 lacs huge amount of OI, with huge liquidation seen at 5500 and below strike prices.
  • Put Option 5400-5100 added 30.19 lacs huge amount of OI, with huge profit booking seen at 5000 and below strike prices.
  • Highest accumulation on Call option 5600 at 66.8 lacs & 5400 at 66.2 lacs whereas Put option 5200 at 78.1 lacs & 5000 at 61.8 lacs.
  • Nifty Open Interest is at 1,85,32,300 up by 7,25,850 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 16,10,125 down by 46,300 with increase in price, most probably huge short covering.
  • FII’s bought huge 12.89 lacs Futures, most probably longs as their net OI increased by 15.60 lacs, and their average price per contract comes to around 5190.
  • FII’s future open contract as on date is 3.94 lacs.
  • PCR Open Interest (Volume) is hovering above 1 and now at 1.057 due to huge addition at 5300PE.
  • Initial support now at 5300 with huge addition of 16.2 lacs and below that at 5200 with highest OI of 78.1 lacs.
  • Resistance at 5400 with huge OI of 66.2 lacs and above that at 5500-5600 with OI above 63 lacs in each.
  • Range as per Option Table is 5289 -5380 and as per VIX is 5299 - 5385 with 5282 as the Pivot.
Option Call for 10-09-2012
Buy Nifty 5400CE above 47 for targets of 53, 60 SL - 43
Buy Nifty 5300PE above 51 for targets of 59, 74 SL - 48

India VIX : 15.26 down by 1.72 points
Call OI : 34890150
Put OI : 36866350
PCR OI : 1.057
SMR : 14.44 (Bullish: Option Table saw huge change with table turned at 5300 level. Bulls need to carry on the momentum or else Bears may get in...)