F&O Cues: Key support and resistance levels for Nifty 50

F&O Cues: Key support and resistance levels for Nifty 50

by 5paisa Research Team Last Updated: Apr 04, 2022, 12:45 PM IST

The level of 18,000 will act as key support while 18,500 will be strong resistance. 

After forming a base on Monday’s trade and arresting its fall, the frontline equity indices finally saw gains in yesterday’s trade. Though the session remained volatile, at one point in time Nifty 50 was trading in red, but by the end of the trading session, it closed in green and gained 0.8 %.

Such a reversal in the trading led to heavy call unwinding at 18,200 strike price and 42793 calls were shed at that price. In terms of overall open interest, maximum open interest stood at a strike price of 18,500, which will act as a strong resistance. Total call open interest of 1,25,093 contracts stood at a strike price of 18,500. Call writing was seen at 18,600 and 18,650. Total open interest at the strike price of 18,600 stood at 86,397.

The highest put writing was seen at strike price 18200 (25,872 contracts added on October 26), followed by 18,300 (19,750 contracts added on October 26), while there was put unwinding at strike price 17,000 (12476 contracts shed), followed by 17,500 (8541 contracts shed).

Highest total put open interest of 86,972 contracts stood at a strike price of 18,000, which will act as strong support for the market in near future. This is followed by strike price 18200, which saw a total put option of 81,571 contracts, while strike price 17,500 has 70,263 contracts in open interest.

The Nifty 50 put call ratio (PCR) closed at 0.81. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

Following table shows the participant wise action of key players on the index options front.

   

Index Put Options  

Client Type  

Change of OI*  

% Change of OI*  

Oct 26 2021  

Oct 25 2021  

Oct 22 2021  

Client  

24842  

-8.67%  

-261825  

-286667  

-355420  

Pro  

-17630  

50.24%  

-52725  

-35095  

28774  

DII  

0  

0.00%  

64190  

64190  

68935  

FII  

-7212  

-2.80%  

250360  

257572  

257711  

*Change from Previous Day  

   

   

   

   

   

   

   

Index Call Options  

Client Type  

Change of OI*  

% Change of OI*  

Oct 26 2021  

Oct 25 2021  

Oct 22 2021  

Client  

-91087  

-90.39%  

9682  

100769  

67784  

Pro  

81888  

-42.83%  

-109292  

-191180  

-145593  

DII  

0  

0.00%  

401  

401  

401  

FII  

9200  

10.22%  

99210  

90010  

77408  

*Change from Previous Day  

   

   

   

   

   

   

   

Net Change in Open Interest  

Client Type  

Change of OI*  

% Change of OI*  

Oct 26 2021  

Oct 25 2021  

Oct 22 2021  

Client  

-115929  

-29.92%  

271507  

387436  

423204  

Pro  

99518  

-63.76%  

-56567  

-156085  

-174367  

DII  

0  

0.00%  

-63789  

-63789  

-68534  

FII  

16412  

-9.79%  

-151150  

-167562  

-180303  

*Change from Previous Day  

   

   

   

   

   

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

SENSEX
52,727.98
462.26 (0.88%)
Nifty 50
15,699.25
142.60 (0.92%)
Nifty Bank
33,627.45
492.45 (1.49%)

Open Free Demat Account

& get benefits worth 2100*

 
Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code

By proceeding, you agree to the T&C.

SENSEX
52,727.98
462.26 (0.88%)
Nifty 50
15,699.25
142.60 (0.92%)
Nifty Bank
33,627.45
492.45 (1.49%)

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number