Monday, December 17, 2012

Option Open Interest for 17-12-2012

Inference
Nifty opened weak but covered up within the very first few minutes. Nifty was unable to stay above the previous day’s close level and had a slow and steady decline with each passing hour to the lows of the day at 5850, and closed just up at 5857.90 a small loss of 21.70 points. The broader market performed reasonably well, with 823 advances to 701 declines. The OI Table saw huge addition at 6000CE and now OI is above 1.22 Crore.
  • Call option 5800-6100 added 18.33 lacs huge amount of OI with huge profit booking seen at 6200 and above strike prices.
  • Put Option 5800-5600 added 4.43 lacs huge amount of OI with some short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 1.22 crore & 6100 at 78.7 lacs whereas Put option 5800 at 93.1 lacs & 5500 at 71.1 lacs.
  • Nifty Open Interest is at 2,13,36,850 down by 35,000, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 12,76,500 down by huge 21,350, with small decrease in price, most probably long liquidation.
  • FII’s bought huge 1.11 lacs of Futures, most probably short covering as their OI also decreased by 779 contracts, and the average price per contract comes to around 5819.
  • FII’s future open contract as on date is 415211.
  • PCR Open Interest (Volume) is down to 1.212, due to huge addition seen at 6000CE level.
  • Best Support still at 5800PE with OI above 93.1 lacs and below that at 5700 with OI of 70.1 lacs.
  • Huge resistance at 6000CE with OI above 1.22 crore, and above that at 6100 with OI of 78.7 lacs.
  • Range as per Option Table is 5821 -5905 and as per VIX is 5812 - 5904 with 5880 as the Pivot.
Option Call for 18-12-2012
Buy Nifty 5900CE above 51 for targets of 57, 65 SL - 48
Buy Nifty 5900PE above 58 for targets of 63, 70 SL - 54

India VIX : 14.92 up by 0.69
Call OI : 45745250
Put OI : 55461600
PCR OI : 1.212
SMR : 12.35 (Bearish to Neutral: Bulls messed it up, unable to take control and the Bears had the better of the exchanges with OI of 6000CE at unprecedented 1.22 Crore...)