Wednesday, September 12, 2012

Option Open Interest for 12-09-2012

Inference
Nifty opened strong above the psychological level of 5400 and stayed in a very narrow range of 15 points for the better part of the first half with not much change though IIP data which came out today was worse than expected at 0.1% against an expectation of 0.5% MoM basis. Nifty during the afternoon moved up on positive news from German court on ESM to end the day at 5431.00 a smart gain of 41.00 points. It was the highest close for Nifty in the last 6 months. Coming back to Option Table, it was a day when the 5400PE writers nudged above the 5400CE open interest.
  • Call option 5500-5800 added 15.25 lacs huge amount of OI, with huge liquidation seen at 5400 and below strike prices.
  • Put Option 5500-5200 added 33.77 lacs huge amount of OI, with profit booking seen at 5100 and below strike prices.
  • Highest accumulation on Call option 5600 at 83.5 lacs & 5500 at 78.1 lacs whereas Put option 5300 at 95.1 lacs & 5200 at 93.5 lacs.
  • Nifty Open Interest is at 1,84,31,750 up by 5,50,900 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 16,93,450 down by 3,175 with increase in price, most probably small short covering.
  • FII’s bought 9.12 lacs Futures, most probably long build-up as their net OI also increased by 6.56 lacs, and their average price per contract comes to around 5266.
  • FII’s future open contract as on date is 3.94 lacs.
  • PCR Open Interest (Volume) is moving up fast and now at 1.257.
  • Super Support at 5300 with highest OI of 95.12 lacs and below that at 5200 with OI above 93.5 lacs.
  • Resistance has shifted one level above at 5500 with huge OI of 78.1 lacs and above that at 5600 with OI above 835 lacs.
  • Range as per Option Table is 5370 -5467 and as per VIX is 5388 - 5474 with 5420 as the Pivot.
Option Call for 13-09-2012
Buy Nifty 5400CE above 83 for targets of 93, 103 SL - 77
Buy Nifty 5400PE above 46 for targets of 54, 68 SL - 42

India VIX : 15.04 down by 0.34 points
Call OI : 36066250
Put OI : 45333100
PCR OI : 1.257
SMR : 11.97 (Bullish: The psychological level of 5400 has been wrested by the Bulls, and now need to hold it for more upside, OI Table looks rosy for them right now but caution is need of the hour...)