Thursday, September 20, 2012

Option Open Interest for 20-09-2012

Inference
Nifty had a very weak opening below 5550 and tried to move up, but was sold off to end at the lows of the day at 5554.25 a loss of 45.80 points and below the psychological level of 5600 unable to sustain above for more than 2 days. The drama going on in Indian Politics is helping the Bears cause. The Option Table saw huge addition at 5600CE.
  • Call option 5500-5700 added 11.76 lacs huge amount of OI, with huge liquidation seen at 5400 and below strike prices.
  • Put Option 5500-5400 added 6.25 lacs huge amount of OI, with huge liquidation seen at 5600 and below strike prices.
  • Highest accumulation on Call option 5700 at 73.3 lacs & 5600 at 69.4 lacs whereas Put option 5400 at 80.5 lac & 5300 at 79.3 lacs.
  • Nifty Open Interest is at 2,18,78,700 up by 2,40,300 with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 19,45,200 down by 1,00,600 with decrease in price, most probably huge long liquidation.
  • FII’s sold small 35.3 thousand Futures, most probably short build-up as their net OI also increased by 12.46 lacs, and their average price per contract comes to around 5487.
  • FII’s future open contract as on date is 4.98 lacs.
  • PCR Open Interest (Volume) took a breather today and came down at 1.521.
  • Strong Support at 5500 with total OI above 75.8 lacs and below that at 5400 with OI of 80.5 lacs.
  • Resistance got upgraded to 5600 with huge addition of 6.36 lacs for the day, with OI at 69.4 lacs and above that at 5700 with OI of above 73.3 lacs.
  • Range as per Option Table is 5509 -5601 and as per VIX is 5500 - 5608 with 5570 as the Pivot.
Option Call for 21-09-2012
Buy Nifty 5600CE above 39 for targets of 48, 58 SL - 35
Buy Nifty 5600PE above 34 for targets of 44, 58 SL - 30

India VIX : 18.62 up by 0.79 points
Call OI : 33490350
Put OI : 50951400
PCR OI : 1.521
SMR : 12.24 (Bullish to Neutral: Neutral: Bears are back with a bang, need another day and they could have expiry as per their liking, and will the Bulls fight back tomorrow???)