Tracking Nifty PC OI w.r.t Option Writer

Hello Respected TJ Member,

I am trying to track the Nifty Option Open Interest (OI). I am really inspired by SS http://www.traderji.com/derivatives/23534-food-thought-31.html#post416674 this post then further reading of http://www.traderji.com/options/34089-tracking-put-call-open-interest.html this thread, I am got interested to track Nifty OI.

Here is few guideline taken from above mentioned thread.

General Put / Call OI Rules on Option writers ( Sellers) Perspective
1. Highest Put OI at particular Strike Price --- Major Support Zone on that time
2. Highest Call OI at particular Strike Price --- Major Resistance Zone on that Time

OI Change Rule (taken from stocks.murtaza post)
1. Rising open interest in an uptrend is bullish.
2. Declining open interest in an uptrend is bearish or it may also mean just profit booking / short covering by buying back sold contracts which result in declining OI.
3. Rising open interest in a downtrend is bearish.
4. Declining open interest in a downtrend is bullish or it may also mean just profit booking / long covering by selling back bought contracts which result in declining OI.

Put Call Ratio Rule (taken from AW10 Post)
The way this PCR data at strike can be interpreted is by observing the trend in change. Simple interpretation of PCR at strike price is
- high PCR at a strike = Bullish at that strike i.e. Support zone,
- Low PCR at a strike = bearish i.e. Resistance zone.

I will Post some PC OI Analysis chart on EOD basis. I sincerely request to all senior member please contribute to this thread by making chart interpretation, giving suggestion for improving this thread..etc.

Edit
----

I am tracking Nifty PC OI throgh excel sheet. When you will Open this excel file it automatically download the current updated data from NSE site and update the chart. It also update every 5 min if you keep this file open. I am giving the link to download the same file. Please remove space between the URL

Please note that this is Excel 2007 file. It will not open in earlier version of excel.


Regards,

-Pralhad

Here is Today Charts....

Does this analysis and Chart make sense?

% change in OI it too high in 5200 puts. Nifty may cross 5200 also
Consistent closing above this is important.

Hi Pralhad,
Can U pls tell from where to get this chart.

Regards.

hi sana,

I am tracking Nifty PC OI throgh excel sheet. When you will Open this excel file it automatically download the current updated data from NSE site and update the chart. It also update every 5 min if you keep this file open. I am giving the link to download the same file. Please remove space between the URL

Please note that this is Excel 2007 file. It will not open in earlier version of excel.

Regards,

-Pralhad

Today was NR7 day, Hopefully we will see tomorrow range expantion.

I have considered only strike price 4500~5500 for this analysis.

Today Nifty closed negative by -0.44%, In last 30 min I have observed that lot of Put 5100 and 5200 was covered and 5100 Call was written. Eventhough the Nifty shut negative by 23 points, PCR increased by 0.72%.


Here is Analysis Table.





You can see Major support and resistance zone at 5000 and 5100 lvl on following chart.





Todays most of action taken on 5000 and 5100 strike price. 5000 PE increased by 12.23 Lac and 5000 CE covered by 21.4k whereas 5100 PE increased by 3.27 lack and 5100 CE by 6.73 lac




For today major % OI increment is 5000 Put Option which is 15.31%

Today range was also narrow : mad :

In last 45 min some player buying Nifty future agressively and in last 10 min we can see diversion in Nifty spot and NF. At last NF was traded at 7 point more premium.

Today Nifty Closed by +14.75 point and PCR increased by 4.26%

May be possibly we will see range breakup or even gap up if global cues are positive.

Again 5000 is Major Support zone and we can see weakness in 5100 Resistance zone.

Today again most of action taken place at 5000 and 5100 strike price.

Hy

Office has a " FileFormatConverter " for office 03 in office 07. This may help. You have to search under microsoft downloads.

DanPickUp

@ Pralhad,
Excellent work... ! i'll be tracking this post regularly.... The excel sheet is real good... appreciate your effort...!:thumb: