Monday, September 24, 2012

Option Open Interest for 24-09-2012

Inference
Nifty opened flat and tried to move up above 5700 but was sold of immediately to the lows around 5670. It again tried to consolidate around the previous day’s close but during the afternoon session a weak opening in Europe saw the index closing at the low point at 5669.60, a small loss of 21.55 points. The Option Table saw huge addition at 5800CE and 5500PE which now has OI above 90 lacs.
  • Call option 5700-6000 added 25.0 lacs huge amount of OI, with huge liquidation seen at 5600 and below strike prices.
  • Put Option 5800, 5600-5500 added 12.8 lacs huge amount of OI, with huge profit booking seen at 5400 and below strike prices.
  • Highest accumulation on Call option 5800 at 76.4 lacs & 5700 at 70.1 lacs whereas Put option 5500 at 90.5 lac & 5600 at 78.8 lacs.
  • Nifty Open Interest is at 2,15,45,000 down by 6,01,800 whereas Oct series added 21.07 lacs OI with small decrease in price, most probably 100% rollover with huge short build-up in next series.
  • Bank Nifty Open Interest is at 18,80,575 down by 85,725 whereas Oct series added 1.21 lacs OI with increase in price, most probably 100% rollover and huge long build-up in next series.
  • FII’s sold huge 2.58 lacs of Futures, most probably short build-up as their net OI also increased by 37.12 lacs, and their average price per contract comes to around 5549.
  • FII’s future open contract as on date is 6.03 lacs.
  • PCR Open Interest (Volume) just cooled down a bit to 1.6666.
  • Strong Support at 5600 with total OI above 78.8 lacs and below that at 5500 with highest OI of 90.45 lacs.
  • Resistance still at 5700 with OI above 70.1 lacs and above that at 5800 with OI of more than 76.4 lacs.
  • Range as per Option Table is 5631 -5726 and as per VIX is 5614 - 5725 with 5680 as the Pivot.
Option Call for 25-09-2012
Buy Nifty 5700CE above 39 for targets of 50, 70 SL - 35
Buy Nifty 5700PE above 46 for targets of 54, 65 SL - 42

India VIX : 18.62 down by 0.10 points
Call OI : 32758500
Put OI : 54564100
PCR OI : 1.666
SMR : 11.30 (Bullish: Another of the consolidation day after a huge up-move, anything wrong in it, na, Bulls are still very much in control but we may just see some expiry jitters.)