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 08, 2021, 05:26 PM IST

Highest put option open interest contract was added at a strike price of 17300 for expiry on December 9.

For the second day in a row, frontline Indian equity indices gained by more than 1.5%. It was on the back of global positive cues and status quo maintained by the apex bank of India on the interest rate front. All these factors boosted the sentiment. Indian equity market remained the top performer in the Asian market. Nifty 50 almost hit a triple century in terms of gain while Sensex gained in four digits. Reliance Industries and banks led such growth in the equity market. At the closing bell on Wednesday, both Sensex and Nifty gained around 1.7% for the day.

Activity on the F&O front for weekly expiry on December 09 shows 17600 to act as a strong resistance now. Highest open interest contract of 121454 stood at this strike price. The second-highest call option open interest 112088 for Nifty 50 stood at a strike price of 17700. In terms of the highest addition of open interest in the call options front, it was at 17650 in the last trading session. A total of 54135 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17400 (103542) open interest added on (2021-12-08), followed by 17300 (95853 open interest added on 2021-12-08). Highest total put open interest (117051) stood at a strike price of 17000. This is followed by a strike price of 17400, which saw a total put option open interest of 113021 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.12 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

Following table shows the top 5 open interest

Strike Price  

Open Interest (Call)  

17600  

121454  

17700  

112088  

17500  

109331  

18000  

105704  

17800  

91970  

Strike Price  

Open Interest (Put)  

17000  

117051  

17400  

113021  

17300  

109491  

17200  

89033  

SENSEX
54,326.39
1,534.16 (2.91%)
Nifty 50
16,266.15
456.75 (2.89%)
Nifty Bank
34,276.40
960.75 (2.88%)
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SENSEX
54,326.39
1,534.16 (2.91%)
Nifty 50
16,266.15
456.75 (2.89%)
Nifty Bank
34,276.40
960.75 (2.88%)

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