F&O Cues: Key support and resistance levels for Nifty 50 on Friday
Nifty F&O action for November 12 expiry shows 17,800 will act as feeble support.
The Indian equity market continued its losing streak and closed in red for three days in a row. In the last two trading sessions the intraday range was on the lower side, however, today the fall and range both were wide. Today being the expiry day it was expected that the market will remain volatile. Indian equity market was the only major market that closed in red in today’s trade. It seems that a higher than expected inflation number for the US is impacting only our market.
Activity in the F&O market for the weekly expiry on November 18, 2021, shows that 18,000 will continue as a strong resistance. The highest call option open interest (59,570) 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 was at 18,000 in the last trading session. A total of 51,555 open interest was added at this strike price. The next highest call option open interest stands at 19,000 where total open interest stood at 42,702.
In terms of put activity, the highest put writing was seen at a strike price of 17300 (22,011 open interest added on November 11), followed by 17,400 (20,833 open interest added on November 11). There was hardly and put unwinding that happened in today’s F&O activity.
Highest total put open interest (28,875) stood at a strike price of 17,500. This is followed by a strike price of 17,400, which saw a total put option open interest of 28,212 contracts.
Following table shows the difference between call and put options at strike price near to max pain of 17900.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
17,600.00 |
2417 |
19913 |
17496 |
|
17,700.00 |
2858 |
18589 |
15731 |
|
17,800.00 |
14637 |
24921 |
10284 |
|
17900 |
34431 |
21780 |
-12651 |
|
18,000.00 |
59570 |
15940 |
-43630 |
|
18,100.00 |
38642 |
4076 |
-34566 |
|
18,200.00 |
34152 |
2208 |
-31944 |
The Nifty 50 put call ratio (PCR) closed at 0.64 worse than 0.69 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 | 7683.00 | -7.7 (-0.1%) |
| CAC 40 | 8027.43 | -64.43 (-0.8%) |
| DAX | 17971.48 | -117.22 (-0.65%) |
| Dow Jones | 38460.92 | -42.77 (-0.11%) |
| FTSE 100 | 8092.27 | 51.89 (0.65%) |
| Hang Seng | 17284.55 | 83.27 (0.48%) |
| US Tech Composite | 15717.75 | 16.11 (0.1%) |
| Nikkei 225 | 37628.41 | -831.6 (-2.16%) |
| S&P 500 | 5071.63 | 1.08 (0.02%) |
| Gift Nifty | 22660.00 | 290 (1.3%) |
| Shanghai Composite | 3052.90 | 8.08 (0.27%) |
| Taiwan Weighted | 19857.42 | -274.32 (-1.36%) |
| US 30 | 38262.80 | -119 (-0.31%) |
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