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: Jan 04, 2022, 05:16 PM IST

Highest put option open interest contract was added at a strike price of 17500 for expiry on January 6.

The Indian equity market rallied for the third day in a row. At the end of the day, Nifty closed with a gain of 1.02% or 179.6 points and in the process regained 17800 to close at 17805.3. Most of the gain came in the last one and half hours of trade. What helped such gain was Power, Oil & Gas and Banking stocks that rose the most while Healthcare and Metal indices lost the most. After rising for two days, Nifty VIX fell by 2.02% in today’s trade.

Activity on the F&O front for weekly expiry on January 6 shows 18000 will continue to act as a strong resistance. Highest open interest contract of 146122 stood at this strike price. The second-highest call option open interest 71523 for Nifty 50 stood at a strike price of 17800. 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 65909 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17600 (94200) open interest added on (04-Jan-2022), followed by 17500 where (84079) open interest was added on 04 January 2022. Highest total put open interest (126516) stood at a strike price of 17000. This is followed by a strike price of 17600, which saw a total put option open interest of 96983 contracts.
 

The Nifty 50 put call ratio (PCR) closed at 1.51 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 stands at 17700. 

Strike Price  

Open Interest(Call)  

18000  

146122  

17800  

71523  

17900  

69828  

18200  

60730  

18500  

60177  

Strike Price  

Open Interest (Put)  

17000  

126516  

17600  

96983  

17500  

94411  

17300  

91256  

17400  

86233  

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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