Monday, November 19, 2012

Option Open Interest for 19-11-2012

Inference
Nifty opened flat and tried to move above 5600 in the initial hours of trade, but got sold off below the previous day’s close. The index tried to move above the dotted line but closed just below it at 5574.05, a minuscule loss of 2.65 points. The broader market was very weak at 449 advances to 1052 declines. The OI Table is looking extremely weak for the Bulls with huge liquidation at 5500 and above strike prices.
  • Call option 5600-5700 added 13.04 lacs huge amount of OI with some profit booking seen at 5800 and above strike prices.
  • Put Option 5400-5300 added 12.11 lacs huge amount of OI with huge short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5800 at 91.8 lacs & 5700 at 86.8 lacs whereas Put option 5400 at 71.8 lacs & 5500 at 66.7 lacs.
  • Nifty Open Interest is at 1,47,40,600 down by 2,97,500 with small decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 10,95,450 down by 61,475 with decrease in price, most probably long liquidation.
  • FII’s sold small 0.58 lacs of Futures, most probably long liquidation, as their net OI also decreased by 3.35 lacs and their average price per contract comes to around 4869.
  • FII’s future open contract as on date is 331356.
  • PCR Open Interest (Volume) is down again and now at 0.886.
  • Support still at 5500 with huge OI of 66.7 lacs, and below that at 5400 with OI of 71.8 lacs.
  • Huge resistance right now at 5700, with OI above 86.8 lacs, and above that at 5800 with highest OI of 91.8 lacs.
  • Range as per Option Table is 5528 -5617 and as per VIX is 5523 - 5620 with 5590 as the Pivot.
Option Call for 20-11-2012
Buy Nifty 5600CE above 45 for targets of 58, 66 SL - 42
Buy Nifty 5600PE above 58 for targets of 68, 82 SL - 55

India VIX : 16.68 up by 0.46 points
Call OI : 44882700
Put OI : 39779400
PCR OI : 0.886
SMR : 18.82 (Bearish: Bears are all over the place in the Option Table with 5700 now standing as huge resistance, though the index is nowhere near 5500 level, still huge liquidation was seen at 5500PE, looks ominous...)