Monday, December 3, 2012

Option Open Interest for 03-12-2012

Inference
A perfect consolidation day after 3 days of huge up-move of 250 points, the index closed flat at 5870.95 a smallish loss of 8.90 points within a small range with each dip bought into. The broader market was strong though nifty ended in red, with 939 advances to 587 declines. The OI Table is still very much in Bull territory with support getting stronger now at 5800 level.
  • Call option 5900-6300 added 27.01 lacs huge amount of OI with some short covering seen at 5700 and below strike prices.
  • Put Option 5900-5500 added 24.64 lacs huge amount of OI with not much change in other strike prices.
  • Highest accumulation on Call option 6000 at 73.9 lacs & 5900 at 43.9 lacs whereas Put option 5700 at 57.7 lacs & 5800 at 57.0 lacs.
  • Nifty Open Interest is at 1,97,12,200 up by huge 3,07,500, with small decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 13,62,750 down by 64,125, with small decrease in price, most probably long liquidation.
  • FII’s sold huge 4.48 lacs of Futures, most probably short build-up as their OI also increased by 4927 contracts, and the average price per contract comes to around 5829.
  • FII’s future open contract as on date is 376958.
  • PCR Open Interest (Volume) just came down a bit due to huge addition at 6000-6100CE and now at 1.348.
  • Support got stronger at 5800, with huge addition for the day at 7.3 lacs and below that at 5700 with highest OI of 57.7 lacs.
  • Resistance still very much at 5900 but not strong enough, and above that at 6000 with highest OI in Option Table at 73.9 lacs.
  • Range as per Option Table is 5830 -5919 and as per VIX is 5823 - 5919 with 5860 as the Pivot.
Option Call for 04-12-2012
Buy Nifty 5900CE above 90 for targets of 100, 111 SL - 85
Buy Nifty 5900PE above 79 for targets of 88, 99 SL - 75

India VIX : 15.62 up by 0.47
Call OI : 34147450
Put OI : 46044500
PCR OI : 1.348
SMR : 11.58 (Bullish: Was it a consolidation day or change of trend? Based on OI table looks like bears are still not able to make much of a dent...)