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 06, 2022, 05:24 PM IST

Highest put option open interest contract was added at a strike price of 17700 for expiry on January 13.  

After a negative handover from the US market, the Indian equity market also witnessed a sharp fall in today’s trade. It was a reaction to Federal Reserve meeting minutes pointing to a faster-than-expected rise in U.S. interest rates due to concerns about persistent inflation. The saving grace for the Indian equity market was that it recovered from its earlier losses. At close, Nifty was down 1.0% or 179.4 points at 17745.9. Nifty VIX also gained 4.35% in today’s trade.

Activity on the F&O front for weekly expiry on January 13 shows 18000 to act as a strong resistance now. Highest open interest contract of 68176 stood at this strike price. The second-highest call option open interest 50001 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 62970 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17500 (57157) open interest added on (06-Jan-2022), followed by 17700 where 37204 open interest(added on 06-Jan-2022). Highest total put open interest (57757) stood at a strike price of 17500. This is followed by a strike price of 16500, which saw a total put option open interest of 39524 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.02 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 17750.

Strike Price  

Open Interest (Call)  

18000  

68176  

17800  

50001  

18500  

48191  

18400  

40747  

19000  

40011  

Strike Price  

Open Interest (Put)  

17500  

57757  

16500  

39524  

17000  

38991  

16000  

37879  

17700  

37356  

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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