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 07, 2021, 04:59 PM IST

Highest put option open interest contract was added at a strike price of 17,000 for expiry on December 9.

Indian equity market recouped the loss of yesterday's trading session. After getting a positive handover from the US market, the Indian equity market build on that gain and Nifty 50 closed with a gain of 1.56% or 264 points to 17176.7. What led to such growth was the positive statement from top scientist from the US, Anthony Fauci that lifted the sentiment towards the risky assets. Nifty bounced from oversold territory. The broader market underperformed the frontline market.

Activity on the F&O front for weekly expiry on December 09 shows 18000 to act as a strong resistance now. Highest open interest contract of 169389 stood at this strike price. The second-highest call option open interest 128244 for Nifty 50 stood at a strike price of 17500. In terms of the highest addition of open interest in the call options front, it was at 18000 in the last trading session. A total of 36234 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17000 (56042) open interest added on December 7, it was followed by 17200 where 51,224 open interest added on December 7. Highest total put open interest (109651) stood at a strike price of 17000. This is followed by a strike price of 17200, which saw a total put option open interest of 78695 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.77 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

The Following Table Shows Top 5 Open Interest in Call and Put Option 

Strike Price  

Call Open Interest  

18000  

169389  

17500  

128244  

17200  

94618  

17600  

92837  

17400  

89073  

  

  

Strike Price  

Put Open Interest  

17000  

109651  

17200  

78695  

16900  

73637  

16800  

70460  

16500  

70197  

SENSEX
54,318.47
1,344.63 (2.54%)
Nifty 50
16,259.30
417.00 (2.63%)
Nifty Bank
34,301.90
704.30 (2.10%)
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SENSEX
54,318.47
1,344.63 (2.54%)
Nifty 50
16,259.30
417.00 (2.63%)
Nifty Bank
34,301.90
704.30 (2.10%)

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