F&O Cues: Key support & resistance levels for Nifty 50
Highest put option open interest contract was added at a strike price of 17,500 for expiry on December 9.
The Indian equity market is acting against the global equity market. In yesterday’s market when the global markets were painted in red, the Indian equity market closed in green. In today’s market when most of the markets are trading in the green, the Indian equity market closed in red. This is despite India's November Composite PMI coming at 59.2 versus 58.7, MoM. This resulted in the second-fastest rise in business activity in nearly ten-and-a-half years.
Activity on the F&O front for weekly expiry on December 9 shows 17,500 to act as a strong resistance now. The second-highest call option open interest (111,909) 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 17,500 in the last trading session. A total of 79,080 open interest was added at this strike price. The highest call option open interest stands at 18,000 where total open interest stood at 120,573.
In terms of put activity, the highest put writing was seen at a strike price of 16,400 (14,594 open interest added on December 3), followed by 16,700 (14,657 open interest added on December 3).
Highest total put open interest (55,923) 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 54,874 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 |
5897 |
55923 |
50026 |
||||
|
17,100.00 |
6660 |
26819 |
20159 |
||||
|
17,200.00 |
35968 |
53447 |
17479 |
||||
|
17300 |
50221 |
25070 |
-25151 |
||||
|
17,400.00 |
81449 |
19805 |
-61644 |
||||
|
17,500.00 |
111909 |
15046 |
-96863 |
||||
|
17,600.00 |
65694 |
3306 |
-62388 |
||||
The Nifty 50 put call ratio (PCR) closed at 0.59 compared to 1.37 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 | 7638.10 | 24.4 (0.32%) |
| CAC 40 | 8023.26 | 41.75 (0.52%) |
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| Dow Jones | 37965.43 | 212.12 (0.56%) |
| FTSE 100 | 7882.83 | 22.74 (0.29%) |
| Hang Seng | 16385.88 | 134.03 (0.82%) |
| US Tech Composite | 15750.18 | 61.81 (0.39%) |
| Nikkei 225 | 38079.63 | 117.83 (0.31%) |
| S&P 500 | 5042.89 | 20.68 (0.41%) |
| Gift Nifty | 22074.50 | -37.5 (-0.17%) |
| Shanghai Composite | 3074.22 | 2.84 (0.09%) |
| Taiwan Weighted | 20301.20 | 87.87 (0.43%) |
| US 30 | 37967.90 | 203.3 (0.54%) |
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