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

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

by 5paisa Research Team Last Updated: Nov 25, 2021, 05:54 PM IST

The highest call option open interest for expiry on December 2, stood at 18,000 for Nifty.

Indian equity market gained on monthly expiry day on the back of positive news flow. Rating agency, Moody’s Investors Service in its latest report has projected that the economic growth in India will rebound strongly. It has pegged GDP growth for the nation at 9.3% and 7.9% in FY22 and FY23, respectively. After a drop in the first hour of trade, Nifty 50 continued to move higher.

There was not much activity on the F&O front for the next weekly expiry on December 2. Nevertheless, reading of today’s activity shows 18,000 to act as a resistance. The highest call option open interest (36,164) 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 17,500 in the last trading session. A total of 18,237 open interest was added at this strike price. The next highest call option open interest stands at 17,500 where total open interest stood at 35,391.

In terms of put activity, the highest put writing was seen at a strike price of 16,500 (28,266 open interest added on November 25), followed by 17,400 (23,187 open interest added on November 25).

Highest total put open interest (45,583) 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 45,343 contracts.

Following table shows the difference between call and put options at strike price near to max pain of 17500.

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

  

17,200.00  

1165  

27156  

25991  

17,300.00  

2490  

36479  

33989  

17,400.00  

8599  

45343  

36744  

17500  

35391  

45583  

10192  

17,600.00  

31850  

12715  

-19135  

17,700.00  

27763  

7620  

-20143  

17,800.00  

29930  

6210  

-23720  

 

 

 

 

 

 

 

 

The Nifty 50 put call ratio (PCR) closed at 1.01 compared to 0.64  in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

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SENSEX
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