Sunday, December 16, 2012

Option Open Interest for 14-12-2012

Inference
Nifty opened flat and looked weak during initial hours of trade, but after inflation data came in at lower than expected 7.24%, the index recovered well enough to post reasonable gain of 28.10 points to close the day at 5879.60. On a week-on-week basis the index lost 27.80 points or around 0.47%. The broader market was a bit weak, with 720 advances to 777 declines. The OI Table saw 5800PE crossing 90 lacs and seems like the base till expiry.
  • Call option 6100 added 3.20 lacs huge amount of OI with huge profit booking seen at 6000 and above strike prices.
  • Put Option 5900-5600 added 16.44 lacs huge amount of OI with some profit booking seen at 5500 strike price.
  • Highest accumulation on Call option 6000 at 1.12 crore & 6100 at 77.5 lacs whereas Put option 5800 at 91.7 lacs & 5500 at 72.1 lacs.
  • Nifty Open Interest is at 2,13,71,850 down by huge 1,36,850, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 12,97,850 up by huge 39,525, with increase in price, most probably long build-up.
  • FII’s sold huge 2.39 lacs of Futures, most probably short build-up as their OI also increased by 560 contracts, and the average price per contract comes to around 5843.
  • FII’s future open contract as on date is 415990.
  • PCR Open Interest (Volume) has moved higher to 1.250 due to huge addition at 5800PE.
  • Super Support now at 5800PE with OI above 91.7 lacs and below that at 5700 with OI of 68.7 lacs.
  • Tremendous resistance at 6000CE with OI above 1.12 crore, and above that at 6100 with OI of 77.5 lacs.
  • Range as per Option Table is 5828 -5916 and as per VIX is 5836 - 5923 with 5890 as the Pivot.
Option Call for 17-12-2012
Buy Nifty 5900CE above 62 for targets of 72, 82 SL - 58
Buy Nifty 5900PE above 55 for targets of 65, 84 SL - 51

India VIX : 14.23 down by 0.48 points
Call OI : 44672300
Put OI : 55830400
PCR OI : 1.250
SMR : 11.39 (Bullish to Neutral: As said yesterday no follow up action by the Bears, who got the chance to pin the Bulls on the mat but came a cropper. The Bulls are coming back, now they need a follow-up action...)