Tuesday, September 25, 2012

Option Open Interest for 25-09-2012

Inference
Nifty opened flat and stayed in a narrow range for the better part of the day, keeping the previous days close as pivot. It ultimately closed very flat at 5673.90 a minute gain of 4.30 points and in the process made a perfect ‘Doji’ candlestick. The Option Table saw addition only at 5800CE and 5700PE, whereas huge profit booking was seen at lower level PE’s.
  • Call option 5800 added 13.2 lacs huge amount of OI, with huge liquidation seen at 5600 and below strike prices.
  • Put Option 5700 added 4.85 lacs huge amount of OI, with huge profit booking seen at 5600 and below strike prices.
  • Highest accumulation on Call option 5800 at 89.6 lacs & 5700 at 68.9 lacs whereas Put option 5600 at 77.1 lac & 5500 at 76.9 lacs.
  • Nifty Open Interest is at 1,92,08,250 down by 23,36,750 whereas Oct series added 46.97 lacs OI with small increase in price, most probably 100% rollover with huge long build-up in next series.
  • Bank Nifty Open Interest is at 16,75,075 down by 2,05,500 whereas Oct series added 1.20 lacs OI with small increase in price, most probably short covering with huge rollover in next series.
  • FII’s bought huge 10.97 lacs of Futures, most probably long build-up as their net OI also increased by 48.45 lacs, and their average price per contract comes to around 5567.
  • FII’s future open contract as on date is 7.00 lacs.
  • PCR Open Interest (Volume) is decreasing steadily from the high of 1.714 and now at 1.612.
  • Strong Support still at 5600 though some OI got covered and below that at 5500 with huge OI of 76.94 lacs.
  • Resistance still very much at 5700 with OI above 68.9 lacs and above that at 5800 with highest OI of 89.6 lacs.
  • Range as per Option Table is 5629 -5723 and as per VIX is 5623 - 5725 with 5680 as the Pivot.
Option Call for 26-09-2012
Buy Nifty 5700CE above 25 for targets of 34, 48 SL - 22
Buy Nifty 5700PE above 37 for targets of 47, 60 SL - 32

India VIX : 17.11 down by 1.72 points
Call OI : 32187700
Put OI : 51872850
PCR OI : 1.612
SMR : 10.62 (Bullish: Second day of consolidation after the huge up-move of Friday, but this gave a chance to the Bears to cement the higher levels as resistance. Looks like another range bound day in the offering before the expiry on Thursday....)