Monday, July 16, 2012

Option Open Interest for 16-07-2012

Inference
Nifty opened flat just above the dotted line but was sold off immediately towards 5200 level, but a better than expected WPI data at 7.25% against an expectation of 7.62% saw the index surge towards 5250 level. The euphoria evaporated on weak opening of Europe and Nifty nose-dived to the lows of the day to close at 5197.25 a loss of 30.00 points. The OI Table saw huge addition at 5200-5300CE strike and now 5300CE with a OI of above 85.9 lacs looks like a huge barrier to the Bulls.
  • Call option 5200-5400 added 16.9 lacs huge amount of OI, with profit booking seen at 5500 and above levels.
  • Put Option 5100-4800 added 6.74 lacs huge amount of OI, with huge liquidation seen at 5200 and above levels.
  • Highest accumulation on Call option 5400 at 92.9 lacs & 5300 at 85.9 lacs whereas Put option 5000 at 84.8 lacs & 5100 at 67.3 lacs.
  • Nifty Open Interest is at 2,39,46,600 up by 1,98,900 with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 27,09,125 down by 17,175 with decrease in price, most probably huge long liquidation.
  • FII’s bought small 62.9 thousand Futures, most probably long build-up, as their OI also increased by 1.78 lacs, and their average price per contract comes to around 5043.
  • FII’s future open contract as on date is 5.93 lacs.
  • PCR Open Interest (Volume) has dropped near to the danger level of 1.2 and now just above at 1.244.
  • Support has shifted down to 5100, with huge OI of 67.3 lacs, below that at 5000, having highest OI on PE side at 84.8 lacs.
  • Resistance at 5300 just got bigger, with huge addition of 8.8 lacs for the day and above that at 5400 with highest OI of 92.9 lacs.
  • Range as per Option Table is 5157 -5260 and as per VIX is 5146 - 5248 with 5220 as the Pivot.
Option Call for 17-07-2012
Buy Nifty 5200CE above 68 for targets of 81, 104 SL - 64
Buy Nifty 5200PE above 52 for targets of 61, 70 SL - 46

India VIX : 18.77 up by 0.51 points
Call OI : 38742400
Put OI : 48185150
PCR OI : 1.244
SMR : 15.09 (Neutral to Bearish: Another level gone to the Bears, now 5300 looks like huge barrier, will the Bulls move in...)