Sunday, November 25, 2012

Option Open Interest for 23-11-2012

Inference
Nifty opened flat and after around 2 hours of dull trade moved down below 5600 level, but the responsive buyers took control and moved the index above the previous day’s close. The index ultimately closed flat at 5626.60 a miniscule loss of 1.15 points. The broader market was weak with 647 advances to 841 declines. The OI Table saw huge profit booking at 5600-5500 PE levels.
  • Call option 5700 added 6.60 lacs of OI with huge short covering seen at 5600 and below strike prices.
  • Put Option 5700 and above covered huge amount of OI with huge profit booking seen at 5600 and below strike prices.
  • Highest accumulation on Call option 5700 at 87.7 lacs & 5800 at 86.0 lacs whereas Put option 5500 at 84.2 lacs & 5600 at 73.0 lacs.
  • Nifty Open Interest is at 1,27,60,850 down by 6,46,050, whereas Dec Series saw addition of 4.89 lacs with not much change in price, mostly rollover with some long liquidation.
  • Bank Nifty Open Interest is at 10,91,400 down by 47,175, whereas Dec Series saw addition of 0.16 lacs with decrease in price, mostly some rollover with long liquidation.
  • FII’s bought small 0.39 lacs of Futures, most probably long build-up, as their net OI also increased by 3.32 lacs and their average price per contract comes to around 4990.
  • FII’s future open contract as on date is 355103.
  • PCR Open Interest (Volume) decreased due to huge profit booking seen at 5600 and 5500 strike prices and now at 1.034.
  • Initial support now at 5600 with huge OI of 73.0 lacs, and below that at 5500 with highest OI of 84.2 lacs.
  • Huge Resistance 5700, with highest OI in Option Table at 87.7 lacs, and above that at 5800 with OI of 86.0 lacs.
  • Range as per Option Table is 5578 -5667 and as per VIX is 5583 - 5670 with 5625 as the Pivot.
Option Call for 26-11-2012
Buy Nifty 5600CE above 49 for targets of 63, 77 SL - 45
Buy Nifty 5700PE above 81 for targets of 96, 119 SL - 77

India VIX : 14.68 down by 0.23 points
Call OI : 40306150
Put OI : 41660550
PCR OI : 1.034
SMR : 15.03 (Neutral: Bulls held on to the gains to live another day, but the Bears made sure that 5700 level would be tough nut to crack this series. Seems like the index may oscillate between 5550-5720 level till expiry...)