F&O Cues: Key support and resistance levels for Nifty 50
Highest put option open interest for expiry on December 9 stands at 18,000 for Nifty.
The Indian equity market after underperforming the global market for a while seems to be doing a catch-up. Nifty 50 gained for the second day in a row and remained the top-performer among the Asian peers. At the time of writing (16:50 Hrs) European markets are also trading in red as fear of the spread of a new variant of coronavirus is making the market volatile.
Activity on the F&O front for weekly expiry on December 9 shows 18,000 to act as a resistance. The highest call option open interest (41,200) for Nifty 50 stood at a strike price of 18,000. In terms of the highest addition of open interest in the call options front, it was at 17,400 in the last trading session. A total of 23,576 open interest was added at this strike price. The next highest call option open interest stands at 17,400 where total open interest stood at 38,946.
In terms of put activity, the highest put writing was seen at a strike price of 17,300 (41,464 open interest added on December 2), followed by 17,000 (41,119 open interest added on December 2).
Highest total put open interest (62,472) stood at a strike price of 17,000. This is followed by a strike price of 16,000, which saw a total put option open interest of 52,112 contracts.
Following table shows the difference between call and put options at strike price near to max pain of 17300.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
|||
|
17,000.00 |
6093 |
62472 |
56379 |
||||
|
17,100.00 |
9767 |
36550 |
26783 |
||||
|
17,200.00 |
14594 |
40980 |
26386 |
||||
|
17300 |
27178 |
47509 |
20331 |
||||
|
17,400.00 |
38946 |
19324 |
-19622 |
||||
|
17,500.00 |
33133 |
7625 |
-25508 |
||||
|
17,600.00 |
30149 |
2399 |
-27750 |
||||
The Nifty 50 put call ratio (PCR) closed at 1.37 compared to 0.87 in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.
Share Market Today
| Indices Name | Price | Price Change (% change) |
|---|---|---|
| S&P ASX 200 | 7087.30 | 52 (0.74%) |
| CAC 40 | 7303.45 | 20.87 (0.29%) |
| DAX | 16207.17 | 8.49 (0.05%) |
| Dow Jones | 35755.45 | 6.3 (0.02%) |
| FTSE 100 | 7464.63 | 37.22 (0.5%) |
| Hang Seng | 17024.62 | 49.85 (0.29%) |
| US Tech 100 | 14158.20 | 4.76 (0.03%) |
| Nikkei 225 | 33486.89 | 165.67 (0.5%) |
| S&P 500 | 4546.31 | 1.61 (0.04%) |
| Gift Nifty | 20329.50 | -4 (-0.02%) |
| Shanghai Composite | 3029.67 | 7.98 (0.26%) |
| Taiwan Weighted | 17433.85 | 63.29 (0.36%) |
| US 30 | 35754.90 | 3.7 (0.01%) |
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