Wednesday, December 12, 2012

Option Open Interest for 12-12-2012

Inference
Nifty had a inside day after the huge move of yesterday with the index opening positive but selling off instantly. A better than expected IIP growth at 8.2% compared to same month last year, saw the index move up smartly but was sold off again to close near the lows of the day at 5888, a small loss of 10.80 points. The broader market also performed badly, with 639 advances to 859 declines. The OI Table saw 6000CE OI at 1.1 crore for the first time in the series.
  • Call option 5900-6200 added 25.30 lacs huge amount of OI with some short covering seen at 5800 and below strike prices.
  • Put Option 6000-5500 added 17.25 lacs huge amount of OI with some profit booking seen at 5400 and below strike prices.
  • Highest accumulation on Call option 6000 at 1.11 crore & 6100 at 70.3 lacs whereas Put option 5800 at 81.6 lacs & 5500 at 74.3 lacs.
  • Nifty Open Interest is at 2,11,27,750 up by huge 7,89,600, with small decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 12,74,450 down by 14,825, with decrease in price, most probably long liquidation.
  • FII’s sold huge 1.3 lacs of Futures, most probably short build-up as their OI also increased by 15696 contracts, and the average price per contract comes to around 5852.
  • FII’s future open contract as on date is 407180.
  • PCR Open Interest (Volume) again down, but still above the Bull level of 1.20 and now at 1.210.
  • Super Support now at 5800PE with OI above 81.6 lacs and below that at 5700 with OI of 65.3 lacs.
  • Wall of China at 6000CE with OI above 1.1 crore, and above that at 6100 with OI of 70.3 lacs.
  • Range as per Option Table is 5851 -5936 and as per VIX is 5843 - 5933 with 5900 as the Pivot.
Option Call for 13-12-2012
Buy Nifty 5900CE above 81 for targets of 91, 106 SL - 78
Buy Nifty 5900PE above 47 for targets of 55, 63 SL - 44

India VIX : 14.51 down by 0.16 points
Call OI : 45179400
Put OI : 54650050
PCR OI : 1.210
SMR : 12.00 (Bullish to Neutral: Range bound day, but the CE writers are finally coming back with 6000 level now out of bounds for the Bulls...)