Tuesday, December 4, 2012

Option Open Interest for 04-12-2012

Inference
Another day of consolidation saw Nifty in a very narrow range of 36 points, but closing positive at 5889.25, a gain of 18.30 points. It was day when the bias remained positive throughout with small dips being bought into very fast. The broader market also performed well, with 828 advances to 687 declines. The OI Table saw 6000CE OI crossing 80 lacs which could act like huge barrier for the Bulls.
  • Call option 5900-6300 added 26.19 lacs huge amount of OI with some short covering seen at 5800 and below strike prices.
  • Put Option 6000-5500 added 15.64 lacs huge amount of OI with not much change in other strike prices.
  • Highest accumulation on Call option 6000 at 82.1 lacs & 5900 at 45.3 lacs whereas Put option 5500 at 65.8 lacs & 5700 at 58.6 lacs.
  • Nifty Open Interest is at 1,97,49,050 up by 36,850, with small increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 13,96,000 down by 33,250, with increase in price, most probably long build-up.
  • FII’s sold huge 4.95 lacs of Futures, most probably short long liquidation as their OI also decreased by 2311 contracts, and the average price per contract comes to around 5837.
  • FII’s future open contract as on date is 374647.
  • PCR Open Interest (Volume) came down a bit more due to huge addition at 6000-6200CE and now at 1.304.
  • Support still at 5800, with OI of 57.64 and below that at 5700 with OI of 58.6 lacs.
  • Resistance still at 5900 but not strong enough, and above that at 6000 with highest OI in Option Table at 82.1 lacs.
  • Range as per Option Table is 5840 -5927 and as per VIX is 5840 - 5938 with 5880 as the Pivot.
Option Call for 05-12-2012
Buy Nifty 5900CE above 95 for targets of 102, 109 SL - 90
Buy Nifty 5900PE above 77 for targets of 82, 93 SL - 73

India VIX : 15.91 up by 0.29 points
Call OI : 36606650
Put OI : 47717050
PCR OI : 1.304
SMR : 12.21 (Bullish: For the first time in the series, the Bears seem to have an upper hand at 6000CE level with OI above 82 lacs, which could act as huge resistance...)