Thursday, October 18, 2012

Option Open Interest for 18-10-2012

Inference
Nifty opened flat and stayed around the previous day close but huge buying in banking shares (some rumours of rate cut) saw the index moved up vertically above 5700 to end the day strong at 5718.70, a huge gain of 58.45 points. The OI Table saw huge addition at 5600 and 5700PE.
  • Call option 5800 added 7.45 lacs huge amount of OI, with huge short covering seen at 5700 and below strike prices.
  • Put Option 5800-5600 added 32.74 lacs huge amount of OI, with huge profit booking seen at 5500 and below strike prices.
  • Highest accumulation on Call option 5800 at 95.3 lacs & 5900 at 72.6 lacs whereas Put option 5600 at 87.6 lacs & 5700 at 70.6 lacs.
  • Nifty Open Interest is at 2,42,53,650 up by 5,05,100 with huge increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 12,10,975 up by 91,325 with huge increase in price, most probably long build-up.
  • FII’s bought 1.03 lacs of Futures, most probably long build-up, as their Net OI also increased by 11.82 lacs, and their average price per contract comes to around 5052.
  • FII’s future open contract as on date is 6.196 lacs.
  • PCR Open Interest (Volume) made a jump above 1 and now above 1.049.
  • Support jumped up to 5700, with huge addition for the day at 17.8 lacs and below that at 5600 with OI above 87.5 lacs.
  • Resistance just shifted up to 5800 with highest OI of 95.3 lacs and above that at 5900 with OI of 72.6 lacs.
  • Range as per Option Table is 5655 -5752 and as per VIX is 5675 - 5763 with 5700 as the Pivot.
Option Call for 19-10-2012
Buy Nifty 5700CE above 64 for targets of 78, 93 SL - 54
Buy Nifty 5700PE above 39 for targets of 52, 77 SL - 35

India VIX : 14.76 down by 0.41
Call OI : 38832100
Put OI : 40752600
PCR OI : 1.049
SMR : 14.06 (Neutral to Bullish: Well Bulls did it in style holding onto the 5630-40 range moved vertically above the psychological level 5700 and the weak Bears covered huge. Are the Bulls back???)