Thursday, November 22, 2012

Option Open Interest for 22-11-2012

Inference
Nifty opened positive and immediately moved towards 5640 to be sold off to the lows of the day around 5610, where bargain hunters moved in to again moved the index to the highs of the day but closed well off at 5627.75 a small gain of 12.95 points. The broader market was just positive with 787 advances to 703 declines. The OI Table saw the support back at 5600 with huge addition for the day at 11.8 lacs.
  • Call option 5800 only added 0.40 lacs of OI with huge short covering seen at 5600 and below strike prices.
  • Put Option 5700-5500 added 21.03 lacs huge amount of OI with huge profit booking seen at 5400 and below strike prices.
  • Highest accumulation on Call option 5800 at 86.2 lacs & 5700 at 81.1 lacs whereas Put option 5500 at 91.5 lacs & 5600 at 82.2 lacs.
  • Nifty Open Interest is at 1,34,06,900 down by 5,03,850, whereas Dec Series saw addition of 6.41 lacs with increase in price, 100% rollover with some long build-up in next series.
  • Bank Nifty Open Interest is at 11,38,575 up by 47,925, whereas Dec Series saw addition of 0.39 lacs with increase in price, most probably long build-up in both series.
  • FII’s sold small 0.52 lacs of Futures, most probably short build-up, as their net OI also increased by 6.48 lacs and their average price per contract comes to around 4983.
  • FII’s future open contract as on date is 348473.
  • PCR Open Interest (Volume) has got a new lease of life and now at 1.080.
  • Support has moved up and now at 5600 with huge addition for the day at 11.8 lacs and OI now 82.2 lacs, and below that at 5500 with highest OI of 91.5 lacs.
  • Resistance still very much at 5700, though saw another round of liquidation but OI still above 81 lacs, and above that at 5800 with highest OI of 86.2 lacs.
  • Range as per Option Table is 5583 -5670 and as per VIX is 5584 - 5672 with 5615 as the Pivot.
Option Call for 23-11-2012
Buy Nifty 5600CE above 58 for targets of 70, 83 SL - 54
Buy Nifty 5700PE above 75 for targets of 90, 109 SL - 71

India VIX : 14.91 down by 0.55
Call OI : 40768200
Put OI : 44041600
PCR OI : 1.080
SMR : 13.80 (Neutral: Bulls made a good effort to scale the minefield of resistance around the 5630-5650 range, but closed below the range giving the Bears another chance to make a come back...)