Tuesday, October 16, 2012

Option Open Interest for 16-10-2012

Inference
Nifty opened positive on the back of good global cues and hovered around 5700 for the better part of first half, but Europe open saw huge sell-off to the lows of the day at 5635. Nifty ultimately closed around the lows at 5648.00, loss of 39.25 points. The OI Table saw huge addition at 5700 and 5800CE.
  • Call option 5600-5800 added 23.60 lacs huge amount of OI, with huge profit booking seen at 5900 and above strike prices.
  • Put Option 5600-5500 added 4.55 lacs huge amount of OI, with huge short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 5800 at 1.01 crore & 5900 at 72.9 lacs whereas Put option 5600 at 77.3 lacs & 5500 at 64.7 lacs.
  • Nifty Open Interest is at 2,40,37,500 down by 5,70,200 with huge decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 11,46,175 down by 35,275 with decrease in price, most probably huge long liquidation.
  • FII’s sold huge 2.35 lacs of Futures, most probably long liquidation, as their Net OI also decreased by 6.23 lacs, and their average price per contract comes to around 4960.
  • FII’s future open contract as on date is 5.955 lacs.
  • PCR Open Interest (Volume) is decreasing fast and now at 0.884.
  • Support still very much at 5600, with net OI above 77.3 lacs and below that at 5500 with OI above 64.7 lacs.
  • Initial resistance now at 5700 with huge addition for the day at 14.23 lacs and net OI above 72 and above that at 5800 with highest OI of 1 crore.
  • Range as per Option Table is 5615 -5714 and as per VIX is 5602 - 5694 with 5670 as the Pivot.
Option Call for 17-10-2012
Buy Nifty 5700CE above 42 for targets of 57, 85 SL - 39
Buy Nifty 5700PE above 78 for targets of 96, 115 SL - 68

India VIX : 15.57 down by 0.33
Call OI : 42834600
Put OI : 37859550
PCR OI : 0.884
SMR : 17.62 (Bearish: Any thought of Bullishness in Nifty was nipped in the bud by the resurgent Bears. The OI Table is highly tilted in favour of the Bears with PCR moving lower to 0.884...)