Thursday, November 1, 2012

Option Open Interest for 01-11-2012

Inference
Nifty opened soft, but gathered momentum on the upside with each passing hour to close around the highs of the day at 5645.05, a small gain of 25.35 points. The Bulls are back with back-to-back up-move and comfortably above the resistance zone of 5630-35. The OI Table saw huge addition at 5700 and lower PE levels.
  • Call option 5700-5900 added 2.30 lacs huge amount of OI with some profit booking seen at 6000 strike price.
  • Put Option 5700-5200 added 22.22 lacs huge amount of OI with small short covering seen at 5900 strike prices.
  • Highest accumulation on Call option 5900 at 60.5 lacs & 5700 at 52.9 lacs whereas Put option 5600 at 57.0 lacs & 5300 at 60.6 lacs.
  • Nifty Open Interest is at 1,71,86,250 down by 3,20,700 with small increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 10,12,175 down by 70,100 with increase in price, most probably huge short covering.
  • FII’s bought huge 4.33 lacs of Futures, most probably short covering, as their net OI also decreased by 4.88 lacs and their average price per contract comes to around 4904.
  • FII’s future open contract as on date is 371958.
  • PCR Open Interest (Volume) jumped to 1.086 due to huge addition at 5600-5200PE levels.
  • Support at 5600 is looking better with each passing day, with highest OI of 57 lacs.
  • Initial resistance still at 5700, with huge OI of 52.9 lacs and above that at 5800-5900 with OI above 52 lacs.
  • Range as per Option Table is 5591 -5685 and as per VIX is 5603 - 5687 with 5645 as the Pivot.
Option Call for 02-11-2012

India VIX : 14.08 down by 0.32 points
Call OI : 33120250
Put OI : 35954700
PCR OI : 1.086
SMR : 12.97 (Neutral: The Bulls made sure that they are very much in the game with another day of positive consolidation but still need a good day to stamp their authority...)