Tuesday, December 11, 2012

Option Open Interest for 11-12-2012

Inference
What a day it was in Nifty, and it happened as said yesterday, we got a 100 points move with the index initially moving up to the highs of the day at 5965 (Future making a high of 6002.85) and then nose-diving to the lows of day at 5865. Some responsive buying towards the end saw the index close just below 5900 at 5898.80 a small loss of 10.10 points. The broader market was very weak, with 476 advances to 1063 declines. The OI Table saw 6000CE OI crossing 1 crore for the first time in the series.
  • Call option 5900-6200 added 22.97 lacs huge amount of OI with some short covering seen at 5800 and below strike prices.
  • Put Option 6000-5800 added 10.55 lacs huge amount of OI with some profit booking seen at 5700 and below strike prices.
  • Highest accumulation on Call option 6000 at 1.03 crore & 6100 at 61.8 lacs whereas Put option 5800 at 78.8 lacs & 5500 at 70.0 lacs.
  • Nifty Open Interest is at 2,03,38,150 down by huge 1,97,850, with small decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 12,89,275 down by huge 1,25,700, with decrease in price, most probably long liquidation.
  • FII’s bought huge 8.1 lacs of Futures, most probably long build-up as their OI also increased by 3886 contracts, and the average price per contract comes to around 5850.
  • FII’s future open contract as on date is 391484.
  • PCR Open Interest (Volume) is down a bit due to huge profit booking at 5700 and lower level PE’s and now at 1.234.
  • Support at 5800 now looking strong enough with OI above 78.8 lacs and below that at 5700 with OI of 59.1 lacs.
  • 6000CE saw OI of above 1 crore and is now a super strong resistance, and above that at 6100 with OI of 61.8 lacs.
  • Range as per Option Table is 5863 -5951 and as per VIX is 5854 - 5944 with 5910 as the Pivot.
Option Call for 12-12-2012
Buy Nifty 6000CE above 42 for targets of 57, 79 SL - 39
Buy Nifty 5900PE above 50 for targets of 66, 83 SL - 47

India VIX : 14.67 up by 0.16
Call OI : 43006800
Put OI : 53080350
PCR OI : 1.234
SMR : 11.89 (Bullish: A 100 pointer as said done perfectly with the index back at neutral territory at end of day with neither the Bull nor Bear having an edge...)