Thursday, November 15, 2012

Option Open Interest for 15-11-2012

Inference
Nifty opened weak on the back of weak global cues and went on to touch the lows of 5600. A small pullback towards the end, saw the index close at 5631, still a good loss of 35.95 points. The broader market was also weak with 542 advances to 981 declines. The OI Table is truly in the hands of the Bears with huge addition for the day from 5600-5800CE levels.
  • Call option 5600-5800 added 38.18 lacs huge amount of OI with some profit booking seen at 5900 and above strike prices.
  • Put Option 5400 added 1.75 lacs huge amount of OI with huge short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5800 at 93.4 lacs & 5900 at 70.1 lacs whereas Put option 5600 at 77.7 lacs & 5500 at 64.7 lacs.
  • Nifty Open Interest is at 1,69,56,550 down by 13,86,100 with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 12,05,550 down by 73,355 with not much change in price, most probably long liquidation.
  • FII’s sold HUGE 24.31 lacs of Futures, most probably long liquidation, as their net OI also decreased by 30.45 lacs and their average price per contract comes to around 4971.
  • FII’s future open contract as on date is 368768.
  • PCR Open Interest (Volume) went down below 1 and now at 0.974.
  • Support at 5600 is starting to look weak with huge liquidation for the day at 5.08 lacs, and below that at 5500 with OI of 64.7 lacs.
  • Initial resistance right now at 5700, with huge addition for the day at 16.9 lacs and above that at 5800 with highest OI of 93.4 lacs.
  • Range as per Option Table is 5587 -5673 and as per VIX is 5585 - 5677 with 5670 as the Pivot.
Option Call for 16-11-2012
Buy Nifty 5700CE above 33 for targets of 40, 48 SL - 30
Buy Nifty 5600PE above 37 for targets of 43, 53 SL - 33

India VIX : 15.53 up by 0.62 points
Call OI : 42229700
Put OI : 41140300
PCR OI : 0.974
SMR : 15.94 (Bearish: The Bears made sure that the downward momentum established on Mahurat trading day was not a fluke with huge addition at 5600-5800CE levels and PE writers covering fast...)