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: 2022-12-13T16:27:29+05:30

Highest put option open interest contract was added at a strike price of 17200 for expiry on December 23. 

After falling for four continuous days, the Indian equity market closed with a gain in today’s trade. Taking cues from the global market Nifty 50 opened with a gap up of more than 100 points, however failed to hold that. Only in the last 45 minutes of trade it recovered and closed up by 0.16% or 27 points at 17248. Nifty VIX also cooled off by almost 8%. It seems that we have formed the base for the short term. Selling pressure emerges between 17300 and 17400.

Activity on the F&O front for weekly expiry on 23 December 2021, shows 17300 to act as a pivotal point now. Nevertheless, the highest open interest contract of 88,028 stood at a strike price of 18,500. The second-highest call option open interest 71,466 for Nifty 50 stood at a strike price of 17300. In terms of the highest addition of open interest in the call options front, it was at 18500 in the last trading session. A total of 83,441 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17300 (40276 open interest added on 2021-12-16 ), followed by 17200 (28536 open interest added on 2021-12-16). The highest total put open interest (48633) stood at a strike price of 17300. This is followed by a strike price of 17200, which saw a total put option open interest of 47580 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.58 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

Max pain at the end of today's trade stand at 17300.

Strike Price  

Open Interest (Call)  

18500  

88028  

17300  

71466  

17400  

71007  

18000  

64999  

17500  

56253  

Strike Price  

Open Interest (Put)  

17300  

48633  

17200  

47580  

17000  

31946  

16000  

28167  

16500  

27334  


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