Monday, November 12, 2012

Option Open Interest for 12-11-2012

Inference
Nifty opened on a positive note, but September IIP data at negative 0.4% came as a shocker for the market and the index drifted down to the lows of the day around 5665. Bargain hunting saw the index close at 5683.70 a miniscule loss of 2.55 points. The OI Table for the day saw 5800CE and 5600PE OI moving above 80 lacs.
  • Call option 5600-5900 added 10.48 lacs huge amount of OI with some profit booking seen at 6000 and above strike prices.
  • Put Option 5600-5400 added 12.69 lacs huge amount of OI with huge short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 5800 at 80.5 lacs & 5900 at 78.7 lacs whereas Put option 5600 at 82.9 lacs & 5500 at 69.6 lacs.
  • Nifty Open Interest is at 1,84,53,600 down by 4,51,200 with small decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 13,10,075 up by 64,150 with increase in price, most probably huge long build-up.
  • FII’s sold huge 7.79 lacs of Futures, most probably long liquidation, as their net OI also decreased by 8.69 lacs and their average price per contract comes to around 5036.
  • FII’s future open contract as on date is 422405.
  • PCR Open Interest (Volume) is still hovering at 1.086.
  • Support at 5600 is getting better with each passing day and now has the highest OI in the Option Table at 82.9 lacs, and below that at 5500 with OI of 69.6 lacs.
  • Huge Resistance at 5800, with OI of 80.5 lacs and above that at 5900 with OI above 78.7 lacs.
  • Range as per Option Table is 5645 -5734 and as per VIX is 5639 - 5728 with 5700 as the Pivot.
Option Call for 13-11-2012
Buy Nifty 5700CE above 67 for targets of 76, 88 SL - 63
Buy Nifty 5700PE above 54 for targets of 61, 70 SL - 50

India VIX : 14.86 up by 0.49 points
Call OI : 40027900
Put OI : 43462650
PCR OI : 1.086
SMR : 13.69 (Bearish to Neutral: We had one of the worst IIP data in recent time, but Nifty was resilient enough not to breakdown. Is it the festive season or the anticipation of rate cut which is holding the index afloat???)

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