Tuesday, October 9, 2012

Option Open Interest for 09-10-2012

Inference
Nifty opened up on good global cues and stayed positive throughout the full session of trade, a dip coming around Europe opening, promptly bought. Nifty closed just above the psychological level of 5700 at 5704.60 a small gain of 28.60 points or 0.50%. The OI Table saw the PE writers back, but 5800 looks like a super resistance for the series right now.
  • Call option 5800-5900 added 7.71 lacs huge amount of OI, with small profit booking seen at 6000 and above level.
  • Put Option 5700-5500 added 8.49 lacs huge amount of OI, with small liquidation seen at 5900 and above strike prices.
  • Highest accumulation on Call option 5800 at 73.3 lacs & 6000 at 70.6 lacs whereas Put option 5600 at 64.2 lacs & 5500 at 60.2 lacs.
  • Nifty Open Interest is at 2,62,95,850 down by 30,250 with increase in price, most probably small short covering.
  • Bank Nifty Open Interest is at 11,33,375 up by huge 40,575 with increase in price, most probably huge long build-up.
  • FII’s bought 1.19 lacs of Futures, most probably long build-up as their Net OI also increased by 4.20 lacs, and their average price per contract comes to around 5515.
  • FII’s future open contract as on date is 5.967 lacs.
  • PCR Open Interest (Volume) is at the same level as yesterday’s 1.031.
  • Support at 5600 got better with OI now at 64.24 lacs and below that at 5500 with OI of above 60.2 lacs.
  • Resistance at 5800 with highest OI of 73.3 lacs and above that at 5900-6000 with OI of 70 lacs each.
  • Range as per Option Table is 5657 -5753 and as per VIX is 5654 - 5755 with 5705 as the Pivot.
Option Call for 10-10-2012
Buy Nifty 5700CE above 88 for targets of 102, 119 SL - 83
Buy Nifty 5700PE above 64 for targets of 77, 91 SL - 59

India VIX : 16.80 down by 0.37 points
Call OI : 38049550
Put OI : 39211750
PCR OI : 1.031
SMR : 16.30 (Neutral: Bulls came back for the day, but it still seems like the Bears are having a upper hand right now, with higher levels out of bounds for the Bulls...)