Tuesday, December 25, 2012

Option Open Interest for 24-12-2012

Inference
Nifty opened gap-up and stayed above the previous day’s close for almost the entire session of trade and closed just above at 5855.75 a smallish gain of 8.05 points. It was a dull day of trade within a spread of 27 points and very low volumes. The broader market was just flat to negative, with 737 advances to 768 declines. The OI Table saw huge liquidation at 5800-6100CE levels.
  • Call option 5900 and above saw huge profit booking with some short covering below 5800 was also seen.
  • Put Option 5800-5700 added 4.41 lacs huge amount of OI with huge short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 1.17 crore & 5900 at 74.0 lacs whereas Put option 5800 at 90.6 lacs & 5700 at 79.3 lacs.
  • Nifty Open Interest is at 1,30,15,800 down by 25,70,200, with addition of 28.48 lacs in Jan series mostly rollover with small long build-up in next series.
  • Bank Nifty Open Interest is at 9,07,625 down by huge 1,17,200, with addition of 82,100 in Jan series mostly rollover with huge long liquidation.
  • FII’s bought 2.78 lacs of Futures, most probably long build-up as their OI also increased by 25987 contracts, and the average price per contract comes to around 5822.
  • FII’s future open contract as on date is 483303.
  • PCR Open Interest (Volume) is back above 1.2 and now at 1.232 due to huge liquidation seen at each and every CE levels.
  • The best support at 5800PE is getting better with OI now above 90.6 lacs and below that at 5700 with OI of 79.3 lacs.
  • Initial resistance is still at 5900CE, with OI above 74.0 lacs, and above that at 6000 with highest OI of 1.17 crore.
  • Range as per Option Table is 5815 -5900 and as per VIX is 5811 - 5900 with 5880 as the Pivot.
Option Call for 26-12-2012
Buy Nifty 5800CE above 74 for targets of 83, 95 SL - 70
Buy Nifty 5900PE above 49 for targets of 56, 66 SL - 45

India VIX : 14.49 down by 0.14 points
Call OI : 40816150
Put OI : 50274650
PCR OI : 1.232
SMR : 11.76 (Bearish to Neutral: Huge liquidation was seen at 5800-6100CE levels, but still strong resistance at 5900 level. With just 2 sessions to expiry, it’s either 5800 or 5900...)