Sunday, December 9, 2012

Option Open Interest for 07-12-2012

Inference
Nifty had a very volatile day with the index dancing to the tunes of Rajya Sabha. Huge spikes up and down were seen. Nifty opened positive but drifted down to close around the lows of the day at 5907.40, a loss of 23.50 points. The broader market was also weak, with 678 advances to 855 declines. The OI Table is getting prepared for battle zone around 5900 level.
  • Call option 5900-6100 added 20.61 lacs huge amount of OI with some short covering seen at 5800 and below strike prices.
  • Put Option 5900-5400 added 11.40 lacs huge amount of OI with some short covering seen at 6000 strike price.
  • Highest accumulation on Call option 6000 at 86.2 lacs & 6100 at 64.4 lacs whereas Put option 5500 at 71.2 lacs & 5800 at 65.4 lacs.
  • Nifty Open Interest is at 2,05,88,800 down by small 75,500, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 14,26,650 down by huge 46,875, with decrease in price, most probably long liquidation.
  • FII’s bought huge 6.20 lacs of Futures, most probably long build-up as their OI also increased by 9919 contracts, and the average price per contract comes to around 5867.
  • FII’s future open contract as on date is 395048.
  • PCR Open Interest (Volume) is down due to huge addition at 6100CE level and now at 1.256.
  • Support at 5800 with OI above 65.4 lacs and below that at 5700 with OI of 56.4 lacs.
  • Super Resistance is at 6000, with highest OI of 86.2 lacs and above that at 6100 with OI of 64.4 lacs.
  • Range as per Option Table is 5868 -5959 and as per VIX is 5861 - 5954 with 5910 as the Pivot.
Option Call for 10-12-2012
Buy Nifty 6000CE above 55 for targets of 67, 83 SL - 51
Buy Nifty 5900PE above 56 for targets of 65, 75 SL - 52

India VIX : 14.96 down by 0.28
Call OI : 40731200
Put OI : 51169350
PCR OI : 1.256
SMR : 11.91 (Bullish: Bears gained some momentum for the day, but will the Bulls sit back or come back harder, Monday could be the decider...)