Thursday, December 27, 2012

Option Open Interest for 27-12-2012

Inference
Nifty opened positive, but was sold off from the word go with the intensity increasing with each passing hour. The Bulls lost all in the last half hour to close below the psychological level of 5900 and around the lows of the day at 5870.10 a loss of 35.50 points. The broader market was also weak, with 526 advances to 969 declines. The OI Table at the start of the new series looks like in a range of 5700-6100 for the time being.
  • Call option 5800-6400 added 35.30 lacs huge amount of OI with some addition seen at 5500 level also.
  • Put Option 6300-5400 added 38.27 lacs huge amount of OI.
  • Highest accumulation on Call option 6000 at 46.6 lacs & 6100 at 29 lacs whereas Put option 5800 at 39.7 lacs & 5700 at 34.7 lacs.
  • Nifty Open Interest is at 1,64,65,550 up by 29,45,600, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 10,02,150 up by huge 3,38,675, with small decrease in price, most probably long/short build-up.
  • FII’s sold huge 7.57 lacs of Futures, most probably short build-up, and the average price per contract comes to around 5948.
  • FII’s future open contract as on date is 265286.
  • PCR Open Interest (Volume) at start of series is just above 1 at 1.050.
  • Support building up at 5800PE with OI now above 39.7 lacs and below that at 5700 with OI of 34.7 lacs.
  • Resistance at 6000CE, with OI above 46.6 lacs, and above that at 6100 with OI of 28.9 lacs.
  • Range as per Option Table is 5842 -5927 and as per VIX is 5828 - 5912 with 5880 as the Pivot.
Option Call for 28-12-2012
Buy Nifty 5900CE above 120 for targets of 131, 149 SL - 115
Buy Nifty 5900PE above 79 for targets of 84, 95 SL - 75

India VIX : 13.74 down by 0.36 points
Call OI : 21788500
Put OI : 22880950
PCR OI : 1.050
SMR : 13.08 (Bearish to Neutral: Expiry saw the Bears back in business, but no follow-up action is being seen in the last few days, will Friday be different...)