Monday, December 10, 2012

Option Open Interest for 10-12-2012

Inference
Another volatile but small range-bound day for Nifty, with the index oscillating around the previous day’s close and ultimately closing just 1.50 points above it at 5908.90. Second inside day in a row for Nifty today, maybe a huge move is round the corner. The broader market also was perfectly balanced, with 758 advances to 757 declines. The OI Table is also balanced around the 5900 level with 5800 as support and 6000 as the big resistance.
  • Call option 5800-6000, 6200 added 15.21 lacs huge amount of OI with some profit booking seen at 6100 and above strike prices.
  • Put Option 6000-5700, 5500 added 22.86 lacs huge amount of OI with some profit booking seen at 5600 strike price.
  • Highest accumulation on Call option 6000 at 92.4 lacs & 6100 at 60.4 lacs whereas Put option 5500 at 74.1 lacs & 5800 at 72.8 lacs.
  • Nifty Open Interest is at 2,01,40,300 down by huge 4,48,500, with no change in price, most probably long liquidation/short covering.
  • Bank Nifty Open Interest is at 14,14,975 down by 11,675, with small increase in price, most probably short covering.
  • FII’s bought huge 1.75 lacs of Futures, most probably short covering as their OI also decreased by 7450 contracts, and the average price per contract comes to around 5865.
  • FII’s future open contract as on date is 387598.
  • PCR Open Interest (Volume) has moved up a bit and now at 1.288.
  • Support at 5800 is gaining solidness by the day with OI now above 72.8 lacs and below that at 5700 with OI of 60.4 lacs.
  • Super Resistance is still at 6000, with highest OI of 92.4 lacs and above that at 6100 with OI of 60.4 lacs.
  • Range as per Option Table is 5862 -5951 and as per VIX is 5864 - 5954 with 5910 as the Pivot.
Option Call for 11-12-2012
Buy Nifty 6000CE above 44 for targets of 51, 59 SL - 41
Buy Nifty 5900PE above 51 for targets of 56, 63 SL - 48

India VIX : 14.51 down by 0.45 points
Call OI : 41275050
Put OI : 53180050
PCR OI : 1.288
SMR : 11.26 (Bullish: Another consolidation day with the writers making sure that 6000 and 5800 levels could be the range for the next few days, still no decider, maybe a 100 pointer coming on Tuesday...)