Tuesday, September 11, 2012

Option Open Interest for 11-09-2012

Inference
Nifty opened weak below 5350 level, but the buyers took control from the word go and pushed the index into positive territory to close at the highest point of the day at 5390.00 a good gain of 26.55 points. Whatever small chance Bears had was nipped in the bud with huge addition at 5200-5400PE Levels.
  • Call option 5500-5700 added 11.59 lacs huge amount of OI, with huge liquidation seen at 5400 and below strike prices.
  • Put Option 5500-5100 added 50.45 lacs huge amount of OI, with profit booking seen at 5000 and below strike prices.
  • Highest accumulation on Call option 5600 at 77 lacs & 5500 at 72.9 lacs whereas Put option 5200 at 90.2 lacs & 5300 at 85.2 lacs.
  • Nifty Open Interest is at 1,78,80,850 up by 8,62,550 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 16,96,625 down by 33,825 with increase in price, most probably short covering.
  • FII’s bought 2.69 lacs Futures, most probably long build-up as their net OI also increased by 10.26 lacs, and their average price per contract comes to around 5197.
  • FII’s future open contract as on date is 3.81 lacs.
  • PCR Open Interest (Volume) has jumped up at 1.179 with huge addition at 5200-5400PE Level.
  • Support at 5300 got better with huge addition of 13.4 lacs and now OI is above 85.2 lacs and below that at 5200 with highest OI of 90.2 lacs.
  • Resistance though weakening but still at 5400 with OI of 62.2 lacs and above that at 5500-5600 with OI above 73 lacs in each.
  • Range as per Option Table is 5331 -5420 and as per VIX is 5347 - 5433 with 5370 as the Pivot.
Option Call for 12-09-2012
Buy Nifty 5400CE above 63 for targets of 72, 81 SL - 55
Buy Nifty 5400PE above 69 for targets of 80, 97 SL - 65

India VIX : 15.38 up by 0.11 points
Call OI : 36019200
Put OI : 42477700
PCR OI : 1.179
SMR : 13.04 (Bullish: Support in the option table has risen to 5300, Bulls are making merry, but now need to be cautious at higher levels...)