Wednesday, October 17, 2012

Option Open Interest for 17-10-2012

Inference
Nifty opened positive on the back of good global cues, but was sold off instantly below the previous day’s close. The index became sluggish thereafter within a very narrow range but saw buying in the dying minutes to close positive at 5660.25, a smallish gain of 12.25 points. The OI Table saw huge addition at 5500PE and 5800CE.
  • Call option 5800 added 16.86 lacs huge amount of OI, with huge profit booking seen at 5900 and above strike prices.
  • Put Option 5700-5500 added 24.93 lacs huge amount of OI, with huge short covering seen at 5800 and above strike prices.
  • Highest accumulation on Call option 5800 at 1.17 crore & 5700 at 67.7 lacs whereas Put option 5500 at 85.5 lacs & 5600 at 78.9 lacs.
  • Nifty Open Interest is at 2,37,48,550 down by 2,88,950 with small increase in price, most probably long liquidation or short covering.
  • Bank Nifty Open Interest is at 11,19,650 down by 26,525 with small increase in price, most probably long liquidation.
  • FII’s bought huge 3.84 lacs of Futures, most probably long build-up, as their Net OI also increased by 0.22 lacs, and their average price per contract comes to around 4971.
  • FII’s future open contract as on date is 5.959 lacs.
  • PCR Open Interest (Volume) just moved up to 0.935 on the back of huge addition at 5500PE.
  • Support still very good at 5600, with net OI above 78.9 lacs and below that at 5500 with OI above 85.5 lacs.
  • Initial resistance still at 5700, though covered some but net OI above 67.7 and above that at 5800 with highest OI of 1.17 crore.
  • Range as per Option Table is 5614 -5707 and as per VIX is 5615 - 5705 with 5670 as the Pivot.
Option Call for 18-10-2012
Buy Nifty 5700CE above 35 for targets of 44, 54 SL - 32
Buy Nifty 5700PE above 63 for targets of 80, 96 SL - 59

India VIX : 15.17 down by 0.40 points
Call OI : 42990650
Put OI : 40193250
PCR OI : 0.935
SMR : 17.23 (Bearish to Neutral: Nothing kind of a day in Nifty, but the only thing going for the Bulls is that though the Bears tried hard but were not able to close the index in negative. Will the Bulls be able to hold onto the 5630-40 range in the coming days???)