Tuesday, October 30, 2012

Option Open Interest for 30-10-2012

Inference
Nifty started the day on a flat note but went down more than 1.2% to end below the psychological level of 5600 after 26 trading session, largely due to RBI keeping key policy rates unchanged and also lowered GDP forecast in its half yearly monetary policy review. The index ultimately closed shop at 5597.90 a huge loss of 67.70 points. The OI Table saw huge addition at 5600 and 5700 CE levels.
  • Call option 5600-6000 added 51.94 lacs huge amount of OI with some profit booking seen at 6100 and above strike prices.
  • Put Option 5600-5300 added 19.79 lacs huge amount of OI with huge short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 5900 at 55.4 lacs & 6000 at 49.0 lacs whereas Put option 5600 at 49.0 lacs & 5500 at 44.2 lacs.
  • Nifty Open Interest is at 1,79,13,000 up by 91,150 with huge decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 11,14,625 up by 73,575 with huge decrease in price, most probably short build-up.
  • FII’s sold huge 11.51 lacs of Futures, most probably long liquidation, as their net OI also decreased by 7.19 lacs and their average price per contract comes to around 4867.
  • FII’s future open contract as on date is 379422.
  • PCR Open Interest (Volume) crashed down to 1.028.
  • The best support still very much at 5600, with highest OI of 49.01 lacs.
  • Initial resistance now at 5700, with huge addition for the day at 13.95 lacs and above that at 5800-5900 with OI above 47 lacs.
  • Range as per Option Table is 5573 -5666 and as per VIX is 5553 - 5642 with 5630 as the Pivot.
Option Call for 31-10-2012
Buy Nifty 5700CE above 72 for targets of 89, 122 SL - 68
Buy Nifty 5600PE above 76 for targets of 90, 104 SL - 67

India VIX : 15.17 up by 0.05 points
Call OI : 31734000
Put OI : 32623300
PCR OI : 1.028
SMR : 14.76 (Bearish: Range ultimately broke down and closed just below 5600, will the Bulls rise to the occasion and take control or the Bears will surely take charge...)