Sunday, October 21, 2012

Option Open Interest for 19-10-2012

Inference
Nifty opened negative and remained so with steady decline towards the lows of the day around 5660, but a late buying saw the index close at 5684.25, still a good loss of 34.45 points. On a week on week basis Nifty ended flat with a gain of just 8.20 points and a ‘DOJI’. The OI Table rolled back whatever was done on Thursday, with huge addition at 5600-5700CE and short covering at 5700PE level.
  • Call option 5600-5800 added 21.94 lacs huge amount of OI, with huge profit booking seen at 5900 and above strike prices.
  • Put Option 5800-5600 covered 41.88 lacs huge amount of OI, with no addition seen at any strike price.
  • Highest accumulation on Call option 5800 at 1.07 crore & 5700 at 61.9 lacs whereas Put option 5600 at 68 lacs & 5500 at 66.8 lacs.
  • Nifty Open Interest is at 2,22,01,300 down by 20,52,350 whereas Nov series added 12.06 lacs with decrease in price, most probably 100% rollover with huge long liquidation.
  • Bank Nifty Open Interest is at 10,46,425 down by 1,64,550 whereas Nov series added 65 thousand with decrease in price, most probably 100% rollover with huge long liquidation.
  • FII’s sold huge 5.39 lacs of Futures, most probably short build-up, as their Net OI also increased by 1.53 lacs, and their average price per contract comes to around 5018.
  • FII’s future open contract as on date is 622617.
  • PCR Open Interest (Volume) again dipped below 1 due to huge liquidation at most PE levels and now at 0.914.
  • Support at 5600, though have weakened due to huge liquidation for the day at 19.5 lacs but still OI above 68 lacs and below that at 5500 with OI above 66.8 lacs.
  • Resistance moved down to 5700 with huge addition for the day at 9.2 lacs and above that at 5800 with highest OI of 1.07 crore.
  • Range as per Option Table is 5636 -5733 and as per VIX is 5641 - 5728 with 5690 as the Pivot.
Option Call for 22-10-2012
Buy Nifty 5700CE above 35 for targets of 47, 64 SL - 31
Buy Nifty 5700PE above 44 for targets of 56, 70 SL - 40

India VIX : 14.54 down by 0.22 points
Call OI : 39316200
Put OI : 35936050
PCR OI : 0.914
SMR : 15.91 (Bearish: Bulls really messed it up on Friday, giving up any hope of an expiry above 5750 range with huge-huge liquidation seen at 5700 and 5600PE level. Bears are in control and 5600 levels looks vulnerable right now...)