Tuesday, July 17, 2012

Option Open Interest for 17-07-2012

Inference
Nifty opened up on good global cues but the Bulls were unable to hold onto the gains and surrendered all meekly to the Bears, with the index ultimately closing in red at 5192.85. The Nifty closed below the psychological level of 5200 for second day in a row and now looks weak with CE writers taking full charge of the OI Table.
  • Call option 5200-5300 added 13 lacs huge amount of OI, with profit booking seen at 5400 and above levels.
  • Put Option 5000 added just 1.28 lacs of OI, with huge liquidation seen at 5100 and above levels.
  • Highest accumulation on Call option 5300 at 95.2 lacs & 5400 at 91.6 lacs whereas Put option 5000 at 86.1 lacs & 5100 at 65 lacs.
  • Nifty Open Interest is at 2,43,18,250 up by 3,71,650 with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 26,32,250 down by 76,875 with decrease in price, most probably huge long liquidation.
  • FII’s bought 2.8 lacs Futures, most probably long build-up, as their OI also increased by 8.77 lacs, and their average price per contract comes to around 5033.
  • FII’s future open contract as on date is 6.11 lacs.
  • PCR Open Interest (Volume) has dropped below the danger level of 1.2 and now at 1.198.
  • Support right now at 5100 looks good with OI of 65 lacs, below that at 5000, having highest OI on PE side at 86.1 lacs.
  • Resistance at 5300 got a gigantic proposition with OI now above 95 lacs.
  • Range as per Option Table is 5150 -5253 and as per VIX is 5145 - 5241 with 5220 as the Pivot.
Option Call for 18-07-2012
Buy Nifty 5200CE above 58 for targets of 70, 90 SL - 54
Buy Nifty 5200PE above 50 for targets of 61, 72 SL - 46

India VIX : 17.78 down by 0.99 points
Call OI : 39127900
Put OI : 46856100
PCR OI : 1.198
SMR : 14.85 (Neutral to Bearish : Seems like Bulls have given up all hope with 5300 now dream for them, Bears need to go for the KILL...)