Monday, October 15, 2012

Option Open Interest for 15-10-2012

Inference
Nifty opened negative below the previous day’s close and languished around the lows for the better part of the morning session. After Europe opened, Nifty made a dash towards 5700, but was not able to conquer it and closed just below at 5687.25, a small gain of 11.20 points. The OI Table saw huge addition at 5600PE, which now looks like a very valid Support, resistance still very much at 5800.
  • Call option 5400, 5800, 6100 added 10.28 lacs huge amount of OI, with small profit booking seen at 5900 and above levels.
  • Put Option 5700-5600 added 9.22 lacs huge amount of OI, with huge profit booking seen at 5500 and lower strike prices.
  • Highest accumulation on Call option 5800 at 91.8 lacs & 5900 at 88.1 lacs whereas Put option 5600 at 76.9 lacs & 5500 at 60.5 lacs.
  • Nifty Open Interest is at 2,46,07,700 down by 2,63,350 with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 11,81,450 up by 17,625 with increase in price, most probably huge long build-up.
  • FII’s bought huge 6.50 lacs of Futures, most probably long build-up, as their Net OI also increased by 2.03 lacs, and their average price per contract comes to around 5024.
  • FII’s future open contract as on date is 6.079 lacs.
  • PCR Open Interest (Volume) decreased to 0.908 due to huge profit booking seen at 5500 and below PE levels.
  • Best Support at 5600, with huge addition for the day at 7.19 lacs and net OI above 76.9 lacs and below that at 5500 with OI above 60.5 lacs.
  • Rock solid Resistance still remains at 5800 with highest OI in Option Table at 91.8 lacs and above that at 5900 with OI above 88.1 lacs.
  • Range as per Option Table is 5634 -5728 and as per VIX is 5640 - 5735 with 5690 as the Pivot.
Option Call for 16-10-2012
Buy Nifty 5700CE above 59 for targets of 68, 77 SL - 55
Buy Nifty 5700PE above 62 for targets of 72, 89 SL - 58

India VIX : 15.90 down by 0.59 points
Call OI : 43510700
Put OI : 39486350
PCR OI : 0.908
SMR : 17.52 (Bearish to Neutral: Bulls were able to thwart the Bears for the Day with a positive close, but they still need to take control of 5700 though 5600 level looks secured right now...)