Saturday, July 14, 2012

Option Open Interest for 13-07-2012

Inference
Nifty opened strong above the previous day’s close on good global cues but started selling off from the word go. During the afternoon, it breached previous day’s closing level and closed the day weak at 5227.25 a small loss of 8.00 points. On a week on week basis the index lost 89.70 points or 1.69%, in the process breaking the momentum of the last 5 weeks. The OI Table saw huge liquidation at most PE levels and huge addition at 5300-5400CE and now 5400 level has OI in excess of 90 lacs and is the resistance for the series.
  • Call option 5300-5400 added 15.3 lacs huge amount of OI, with huge profit booking seen at 5500 and above levels.
  • Put Option 4900 added4.28 lacs huge amount of OI, with huge liquidation seen at 5000 and above levels.
  • Highest accumulation on Call option 5400 at 91.6 lacs & 5300 at 77.1 lacs whereas Put option 5000 at 82.8 lacs & 5100 at 66 lacs.
  • Nifty Open Interest is at 2,37,47,700 up by 4,48,100 with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 27,26,300 down by 56,875 with decrease in price, most probably huge long liquidation.
  • FII’s sold 81.75 thousand Futures, most probably short build-up, as their OI also increased by 6.41 lacs, and their average price per contract comes to around 5067.
  • FII’s future open contract as on date is 5.90 lacs.
  • PCR Open Interest (Volume) is dropping fast and now at 1.315, lowest of the series.
  • Support is still at 5200, though it has weakened quite a bit with huge liquidation of 6 lacs, below that at 5100, having OI around 66 lacs.
  • Resistance is at 5300, with huge addition of 7.6 lacs for the day and above that at 5400 with highest OI of 91.6 lacs.
  • Range as per Option Table is 5184 -5285 and as per VIX is 5177 - 5277 with 5260 as the Pivot.
Option Call for 16-07-2012
Buy Nifty 5300CE above 39 for targets of 46, 58 SL - 35
Buy Nifty 5200PE above 43 for targets of 50, 58 SL - 39

India VIX : 18.26 down by 0.56 points
Call OI : 37409300
Put OI : 49209700
PCR OI : 1.315
SMR : 13.88 (Neutral : OI Table on the verge of turning negative with 5400 now looking like Wall of China for the Bulls...)