Wednesday, October 3, 2012

Option Open Interest for 03-10-2012

Inference
Nifty saw another day of consolidation within a narrow range with positive bias on the back of positive global cues to end the day at 5731.25 another small gains of 12.45 points. The index stayed above the previous days close and a small dip got bought into. The Option Table saw huge addition at 5800-6000CE and 5700-5600PE level.
  • Call option 5800-6200 added 29.91 lacs huge amount of OI, with small liquidation seen at 5700 and lower levels.
  • Put Option 5900-5400 added 24.48 lacs huge amount of OI.
  • Highest accumulation on Call option 6000 at 60.5 lacs & 5800 at 58.7 lacs whereas Put option 5400 at 54.1 lac & 5300 at 54.1 lacs.
  • Nifty Open Interest is at 2,51,33,250 up by 8,50,050 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,66,800 down by 6,225 with small decrease in price, most probably long liquidation.
  • FII’s bought huge 16.85 lacs of Futures, most probably long build-up as their Net OI also increased by 14.29 lacs, and their average price per contract comes to around 5601.
  • FII’s future open contract as on date is 5.482 lacs.
  • PCR Open Interest (Volume) has gone down just below 1.2 and now at 1.179.
  • Support at 5700 got better with huge addition of 8 lacs with OI now above 48.4 lacs and below that at 5600 with OI of above 50.9 lacs.
  • Resistance at 5800 got better with huge addition of 9.1 lacs with net OI above 58.7 lacs and above that at 6000 with highest OI of 60.5 lacs.
  • Range as per Option Table is 5686 -5773 and as per VIX is 5682 - 5781 with 5720 as the Pivot.
Option Call for 04-10-2012
Buy Nifty 5800CE above 70 for targets of 76, 83 SL - 65
Buy Nifty 5700PE above 61 for targets of 66, 73 SL - 58

India VIX : 16.50 up by 0.16 points
Call OI : 31903500
Put OI : 37607500
PCR OI : 1.179
SMR : 14.00 (Bullish: The support level in the Option Table is moving higher with each passing day, whereas 5800 level is turning out to be a huge resistance for the time being, in a day or two we get the answer if we are near the top or we move higher...)