F&O Cues: Key support and resistance levels for Nifty 50
Highest put option open interest contract was added at a strike price of 17900 for expiry on November 03, 2022.
Nifty regained the 18000 mark in today’s trade. Nifty 50 opened at 17910.20 against the previous close of 17786.80. It closed with a gain of 225.4 points or 1.27 % at 18012.2. What helped such a huge gain for the Nifty was UltraTech Cement, M&M, L&T, HDFC, Sun Pharma and HDFC Bank which were the top gainers in today's trading session. Nifty VIX further declined in today’s trade. It opened at 15.92 and closed at 15.80 with dropping by %.
Activity on the F&O front for weekly expiry on November 03, 2022 shows 18500 to act as a strong resistance now. Highest call open interest contract of 128125 stood at this strike price. The second-highest call option open interest 120481 for Nifty 50 stood at a strike price of 18000. In terms of the highest addition of open interest in the call options front, it was at 18500 in the last trading session. A total of 33090 open interest was added at this strike price.
In terms of put activity, the highest put writing was seen at a strike price of 17900, where 87296 open interest added on October 3, 2022, followed by 18000 strike price, where (84847) open interest added on October 31, 2022. Highest total put open interest (113815) stood at a strike price of 17800. This was followed by a strike price of 17700, which saw a total put option open interest of 109369 contracts.
The Nifty 50 put call ratio (PCR) closed at 1.24 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.
Max pain at the end of today's trade for weekly expiry on November 03, 2022 stands at 17950.
Top five call and put open interest with their strike price
|
Strike Price |
Open Interest (Call) |
|
18500 |
128125 |
|
18000 |
120481 |
|
18200 |
111809 |
|
18300 |
103762 |
|
18400 |
79034 |
|
Strike Price |
Open Interest (Put) |
|
17800 |
113815 |
|
17700 |
109369 |
|
17500 |
107191 |
|
17900 |
105455 |
|
18000 |
96642 |
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