Wednesday, November 28, 2012

Option Open Interest for 27-11-2012

Inference
Nifty opened up on the back of good global cues, and galloped away above 5700 within the first hour of trade. The index remained strong throughout the full session to close near the highs of the day at 5727.45 a huge gain of 91.55 points. The broader market was positive with 1003 advances to 512 declines. The OI Table saw huge huge unwinding in most of the CE levels.
  • Call option 5800 added 7.22 lacs huge amount of OI with huge short covering seen at 5700 and below strike prices.
  • Put Option 5800-5700 added 35.33 lacs huge amount of OI with profit booking seen at 5600 and below strike prices.
  • Highest accumulation on Call option 5800 at 89.2 lacs whereas Put option 5600 at 84.8 lacs & 5500 at 74.7 lacs.
  • Nifty Open Interest is at 93,78,700 down by 21,24,350, whereas Dec Series saw addition of 54.84 lacs with huge increase in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 8,33,825 down by 1,97,975, whereas Dec Series saw addition of 4.05 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • FII’s bought huge 24.28 lacs of Futures, most probably long build-up, as their net OI also increased by 47.74 lacs and their average price per contract comes to around 5246.
  • FII’s future open contract as on date is 467510.
  • PCR Open Interest (Volume) increased above Bull level to 1.349 due to huge addition at 5700PE and reduction at 5700CE level.
  • Initial support for expiry now at 5700, and below that at 5600 with highest OI of 84.8 lacs.
  • Resistance now at 5800, with highest OI in Option Table at 89.2 lacs.
  • Range as per Option Table is 5668 -5753 and as per VIX is 5686 - 5769 with 5690 as the Pivot.
Option Call for 29-11-2012
Buy Nifty 5700CE above 38 for targets of 51, 64 SL - 29
Buy Nifty 5700PE above 23 for targets of 37, 66 SL - 19

India VIX : 13.96 down by 0.71 points
Call OI : 32248250
Put OI : 43496300
PCR OI : 1.349
SMR : 10.35 (Bullish: Bulls came back with a vengeance on the eve of expiry to stamp their authority with a close above 5700 level and in the process 5700PE nudged higher than that of 5700CE. Looking at the OI Table expiry could be around 5700 level...)