Thursday, November 29, 2012

Option Open Interest for 29-11-2012

Inference
Expiry day saw Nifty scale new highs for the series and also for the year with the index adding 97.55 points to shut shop at 5825. It was a one way trading with the index gaining in strength with each passing hour with no correction at all in-between. Nifty added huge 72.2 lacs in Open Interest. The broader market was positive but not in sync with Nifty with 891 advances to 638 declines. The December series OI Table saw huge addition at 5900-6100CE and 5800-5700PE levels with initial range of 5700-6000.
  • Call option 5900-6300 added 54.44 lacs huge amount of OI with some short covering seen at 5700 and below strike prices.
  • Put Option 6200-5600 added 57.84 lacs huge amount of OI with some more addition seen at 5400 strike price.
  • Highest accumulation on Call option 6000 at 60.3 lacs whereas Put option 5600 at 49.1 lacs & 5700 at 47.6 lacs.
  • Nifty Open Interest is at 1,78,86,150 up by huge 72,21,750, with huge increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,69,325 up by huge 6,48,550, with huge increase in price, most probably huge long build-up.
  • FII’s bought huge 40.41 lacs of Futures, most probably long build-up, and the average price per contract comes to around 5853.
  • FII’s future open contract as on date is 331495.
  • PCR Open Interest (Volume) at start of series is comfortably placed at 1.311.
  • Initial support at 5700, and below that at 5600 with highest OI of 49.1 lacs.
  • Resistance right now at 5900, and above that at 6000 with highest OI in Option Table at 60.3 lacs.
  • Range as per Option Table is 5759 -5849 and as per VIX is 5778 - 5872 with 5790 as the Pivot.
Option Call for 30-11-2012
Buy Nifty 5900CE above 73 for targets of 89, 105 SL - 61
Buy Nifty 5800PE above 68 for targets of 80, 103 SL - 65

India VIX : 15.37 up by 1.41
Call OI : 28472000
Put OI : 37314100
PCR OI : 1.311
SMR : 11.73 (Bullish: What a way to end the series, the Bulls did it in style and in the process new highs for the series and for the year, now Bear need to do all the hard work to stay in contention else its Bulls all the way...)