Saturday, November 17, 2012

Option Open Interest for 16-11-2012

Inference
Nifty opened flat and what looked like a normal range bound day, turned out to be a nightmare for the bulls with huge liquidation in Nifty saw the index close at the lowest point of the day at 5574.05, a huge loss of 56.95 points. The broader market was also very weak with 483 advances to 1021 declines. The OI Table saw huge addition at 5500-5700 CE levels and now 5700 would be the level to scale for the Bulls to get back in the game.
  • Call option 5500-5700 added 34.41 lacs huge amount of OI with some profit booking seen at 5900 and above strike prices.
  • Put Option 5500-5100 added 12.46 lacs huge amount of OI with huge short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5800 at 93.3 lacs & 5700 at 80.9 lacs whereas Put option 5500 at 69.8 lacs & 5600 at 68.7 lacs.
  • Nifty Open Interest is at 1,50,38,100 down by 19,18,450 with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 11,56,925 down by 48,625 with decrease in price, most probably long liquidation.
  • FII’s sold HUGE 13.77 lacs of Futures, most probably long liquidation, as their net OI also decreased by 15.36 lacs and their average price per contract comes to around 4856.
  • FII’s future open contract as on date is 338053.
  • PCR Open Interest (Volume) is very weak and now at 0.911.
  • Support is down to 5500 with huge OI of 69.8 lacs, and below that at 5400 with OI of 63.7 lacs.
  • Huge resistance right now at 5700, with OI above 80.9 lacs, and above that at 5800 with highest OI of 93.3 lacs.
  • Range as per Option Table is 5545 -5634 and as per VIX is 5527 - 5621 with 5600 as the Pivot.
Option Call for 19-11-2012
Buy Nifty 5600CE above 58 for targets of 76, 100 SL - 54
Buy Nifty 5600PE above 64 for targets of 81, 99 SL - 54

India VIX : 16.22 up by 0.69
Call OI : 44660400
Put OI : 40683750
PCR OI : 0.911
SMR : 17.81 (Bearish: It’s Bears all the way with 5600 taken down after 2 months of range bound trade. Expiry could be well below 5700 for this series...)