Monday, October 8, 2012

Option Open Interest for 08-10-2012

Inference
Nifty opened weak and stayed weak throughout the day, with close coming at the lows at 5676, a huge loss of 70.95 points. It went down as in a trend day with no buying seen at all. The OI Table saw makeover with support shifting down to 5600 and solid resistance coming up at 5800.
  • Call option 5500-6000 added 24.14 lacs huge amount of OI, with small profit booking seen at 6100 and above level.
  • Put Option 5400-5600 added 15.24 lacs huge amount of OI, with huge liquidation seen at 5700 and above strike prices.
  • Highest accumulation on Call option 6000 at 71.1 lacs & 5800 at 70.1 lacs whereas Put option 5600 at 61 lacs & 5500 at 58 lacs.
  • Nifty Open Interest is at 2,63,26,100 down by 76,650 with decrease in price, most probably small long liquidation.
  • Bank Nifty Open Interest is at 10,92,800 down by huge 56,625 with decrease in price, most probably huge long liquidation.
  • FII’s bought huge 4.39 lacs of Futures, most probably long build-up as their Net OI also increased by 7.54 lacs, and their average price per contract comes to around 5516.
  • FII’s future open contract as on date is 5.882 lacs.
  • PCR Open Interest (Volume) is moving down fast and just above 1 at 1.031.
  • Support now at 5600 highest OI on the PE side at 60.96 lacs and below that at 5500 with OI of above 58 lacs.
  • Initial resistance at 5700 with huge addition for the day at 7.1 lacs and above that at 5800 with huge OI of 70.1 lacs.
  • Range as per Option Table is 5645 -5742 and as per VIX is 5625 - 5727 with 5700 as the Pivot.
Option Call for 09-10-2012
Buy Nifty 5800CE above 47 for targets of 58, 79 SL - 43
Buy Nifty 5700PE above 77 for targets of 87, 99 SL - 69

India VIX : 17.17 up by 0.39 points
Call OI : 37568900
Put OI : 38750250
PCR OI : 1.031
SMR : 16.65 (Neutral to Bearish: The down move that started on Friday carried on for the day and now the Option Table is looking fragile for the Bulls with support down to 5600 now...)