Thursday, October 4, 2012

Option Open Interest for 04-10-2012

Inference
After 2 days of consolidation Nifty broke out with a gap-up to scale 5800 for the day, but closed just below at 5787.60 a huge gain of 56.35 points. Looking at the OI Table, more up-move is possible as we saw huge addition at 5800PE Level.
  • Call option 5900-6300 added 20.2 lacs huge amount of OI, with huge liquidation seen at 5800 and lower levels.
  • Put Option 6000-5600 added 30.25 lacs huge amount of OI, with profit booking seen at 5500 and lower strike prices.
  • Highest accumulation on Call option 6000 at 61 lacs & 5900 at 50.8 lacs whereas Put option 5600 at 55.8 lac & 5700 at 55.7 lacs.
  • Nifty Open Interest is at 2,56,45,250 up by 5,12,000 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,77,975 up by 11,175 with huge increase in price, most probably long build-up.
  • FII’s bought huge 12.46 lacs of Futures, most probably long build-up/short covering as their Net OI also decreased by 0.92 lacs, and their average price per contract comes to around 5655.
  • FII’s future open contract as on date is 5.463 lacs.
  • PCR Open Interest (Volume) has again moved above 1.2 to 1.222.
  • Support at 5700 is looking strong with huge addition of 7.3 lacs with OI now above 55.7 lacs and below that at 5600 with OI of above 55.8 lacs.
  • Resistance at 5900 with net OI above 50.8 lacs and above that at 6000 with highest OI of 61 lacs.
  • Range as per Option Table is 5735 -5828 and as per VIX is 5738 - 5837 with 5760 as the Pivot.
Option Call for 05-10-2012
Buy Nifty 5800CE above 96 for targets of 108, 122 SL - 91
Buy Nifty 5800PE above 77 for targets of 87, 102 SL - 73

India VIX : 16.44 down by 0.06 points
Call OI : 32128300
Put OI : 39253250
PCR OI : 1.222
SMR : 13.46 (Bullish: Oh, the answer is here, we moved higher above 5800 with Option Table supporting the up-move with huge addition at 5800PE and liquidation to the tune of 10 lacs at 5800CE...)

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