Wednesday, October 10, 2012

Option Open Interest for 10-10-2012

Inference
Nifty opened below 5700 and stayed weak throughout the session to close at the low point of the day at 5652.15 a huge loss of 52.45 points. Today sell off was based on long liquidation with Nifty losing more than 6.90 lacs of OI. The OI Table saw the CE writers on a rampage with huge addition of 13.6 lacs at 5700 level which is right now resistance for tomorrow.
  • Call option 5600-6000 added 33.05 lacs huge amount of OI, with small profit booking seen at 6100 and above level.
  • Put Option 5500-5300 added 12.41 lacs huge amount of OI, with huge liquidation seen at 5700 and above strike prices.
  • Highest accumulation on Call option 5900 at 77.3 lacs & 5800 at 76.9 lacs whereas Put option 5500 at 65.4 lacs & 5600 at 63.9 lacs.
  • Nifty Open Interest is at 2,56,05,500 down by 6,90,350 with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 11,47,550 up by 14,175 with decrease in price, most probably short build-up.
  • FII’s sold huge 17.12 lacs of Futures, most probably long liquidation as their Net OI also decreased by 10.14 lacs, and their average price per contract comes to around 5352.
  • FII’s future open contract as on date is 5.764 lacs.
  • PCR Open Interest (Volume) has gone below 1 and now at 0.964.
  • Support still at 5600, though covered a few OI and below that at 5500 with OI above 65.4 lacs.
  • Resistance came down to 5700 with huge addition for the day at 13.6 lacs and above that at 5800 with OI above 76.9 lacs.
  • Range as per Option Table is 5614 -5707 and as per VIX is 5602 - 5702 with 5680 as the Pivot.
Option Call for 11-10-2012
Buy Nifty 5700CE above 65 for targets of 72, 86 SL - 61
Buy Nifty 5700PE above 84 for targets of 92, 99 SL - 79

India VIX : 16.83 up by 0.03 points
Call OI : 41202250
Put OI : 39714050
PCR OI : 0.964
SMR : 17.46 (Neutral to Bearish: Bears in 3 days flat has changed the very face of the OI Table, with PCR going below 1 and level from 5800-6000 having OI in excess of 75 lacs...)