Wednesday, September 26, 2012

Option Open Interest for 26-09-2012

Inference
Nifty opened in the negative around 5650 level on weak global cues, but immediately moved up towards the previous day’s close. Strong seller moved the index again back to the lows of the day but Nifty managed to close flat at 5663.45 a small loss of 10.45. The Option Table saw huge addition at 5700CE and 5600PE, which seems to be the range for Expiry.
  • Call option 5600-5700 added 15.75 lacs huge amount of OI, with huge profit booking seen at 5800 and above strike prices.
  • Put Option 5600 added 8.90 lacs huge amount of OI, with huge profit booking seen at 5600 and below strike prices.
  • Highest accumulation on Call option 5800 at 86.3 lacs & 5700 at 83.3 lacs whereas Put option 5600 at 86.0 lac & 5500 at 73.0 lacs.
  • Nifty Open Interest is at 1,56,29,350 down by 35,78,900 whereas Oct series added 55.78 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 14,61,300 down by 2,13,775 whereas Oct series added 3.04 lacs OI with not much change in price, most probably 100% rollover with short/long build-up in next series.
  • FII’s bought huge 6.18 lacs of Futures, most probably long build-up as their net OI also increased by 35.60 lacs, and their average price per contract comes to around 5569.
  • FII’s future open contract as on date is 7.71 lacs.
  • PCR Open Interest (Volume) is steady at 1.642.
  • Support at 5600 has been strengthened with huge addition of 8.9 lacs for the day with net OI above 86 lacs.
  • Resistance at 5700 with huge addition for the day at 14.4 lacs and net OI now at 83.3 lacs.
  • Range as per Option Table is 5614 -5706 and as per VIX is 5613 - 5714 with 5670 as the Pivot.
A preview of October Series OI Table (5500-5800 Initial Range)

Option Call for 27-09-2012
Buy Nifty 5600CE above 73 for targets of 85, 96 SL - 68
Buy Nifty 5700PE above 44 for targets of 54, 70 SL - 39

India VIX : 16.97 down by 0.14 points
Call OI : 31173350
Put OI : 51194250
PCR OI : 1.642
SMR : 11.30 (Bullish: Tomorrow is Expiry and Nifty is exactly between the Support and Resistance of Option Table, whichever breaks could show the path for the next Series...)