Wednesday, December 26, 2012

Option Open Interest for 26-12-2012

Inference
The Bulls came back when it mattered most, Nifty after opening flat gained momentum after the initial hours of trade to scale 5900 with ease and closed at 5905.60, a good gain of 49.85 points. The best part was huge addition to the tune of 32 lacs in Jan series. The broader market also performed well, with 819 advances to 679 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 5900-5800 added 16.15 lacs huge amount of OI with huge profit booking seen at 5700 and below strike prices.
  • Highest accumulation on Call option 6000 at 1.13 crore & 6100 at 65.1 lacs whereas Put option 5800 at 92.3 lacs & 5700 at 65.6 lacs.
  • Nifty Open Interest is at 1,21,99,100 down by 8,16,700, with addition of huge 31.67 lacs in Jan series 100% rollover with huge long build-up in next series.
  • Bank Nifty Open Interest is at 7,32,000 down by huge 1,75,625, with addition of 3.05 lacs in Jan series 100% rollover with huge long build-up in next series.
  • FII’s bought 2.88 lacs of Futures, most probably long build-up as their OI also increased by 77028 contracts, and the average price per contract comes to around 5874.
  • FII’s future open contract as on date is 560331.
  • PCR Open Interest (Volume) has jumped to 1.379 due to huge liquidation seen at each and every CE levels.
  • The best support at 5800PE with OI now above 92.2 lacs and below that at 5700 with OI of 65.6 lacs.
  • Huge resistance at 6000CE, with OI above 1.13 crore, and above that at 6100 with OI of 65.1 lacs.
  • Range as per Option Table is 5856 -5941 and as per VIX is 5862 - 5949 with 5900 as the Pivot.
A sneak peek at January OI Table, Range of  5700-6100

Option Call for 27-12-2012
Buy Nifty 5900CE above 26 for targets of 39, 51 SL - 21
Buy Nifty 5900PE above 22 for targets of 34, 56 SL - 19

India VIX : 14.10 down by 0.39
Call OI : 35793450
Put OI : 49358750
PCR OI : 1.379
SMR : 10.22 (Bullish: So we have 5900, as said in my previous update, now the most probable expiry could be around 5900 with both the CE & PE writers reaping huge benefit...)