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: Dec 01, 2021, 05:57 PM IST

Highest call option open interest for expiry on December 2, stood at 17,500 for Nifty. 

After showing weakness in the last few trading sessions, the Indian equity market on the first day of December closed in green on the back of better news flow of economic growth. India’s GDP for the second quarter grew better than expected. Besides, we also saw the global market gaining as fear of a new variant of Covid-19 subsiding. At the end of the trade Nifty closed with a gain of 1.08% or 183.7 points at 17167.

Activity on the F&O front for weekly expiry on December 2 shows 17,500 to act as a resistance. The highest call option open interest (1,72,064) for Nifty 50 stood at a strike price of 17,500. 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 22,313 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 104,525.

In terms of put activity, the highest put writing was seen at a strike price of 17,100 (61,464 open interest added on December 1), followed by 16,500 (57,124 open interest added on December 1).

Highest total put open interest (128,906) stood at a strike price of 16,500. This is followed by a strike price of 17,000, which saw a total put option open interest of 122,361 contracts.

Following table shows the difference between call and put options at strike price near to max pain of 17150. 

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

  

16,900.00  

6454  

73558  

67104  

17,000.00  

28053  

122361  

94308  

17,100.00  

69127  

97100  

27973  

17200  

99236  

54919  

-44317  

17,300.00  

96420  

15118  

-81302  

17,400.00  

104225  

10429  

-93796  

17,500.00  

172064  

6974  

-165090  

 

 

 

 

 

 

 

 

The Nifty 50 put call ratio (PCR) closed at 0.87. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

SENSEX
54,252.53
503.27 (0.94%)
Nifty 50
16,170.15
0.00 (0.00%)
Nifty Bank
35,094.90
0.00 (0.00%)
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SENSEX
54,252.53
503.27 (0.94%)
Nifty 50
16,170.15
0.00 (0.00%)
Nifty Bank
35,094.90
0.00 (0.00%)

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