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 10, 2022, 04:36 PM IST

Highest put option open interest contract was added at a strike price of 17500 for expiry on January 13.  

The first day of the week saw the Indian equity market opening on a positive note. Despite not an encouraging global cue, Nifty 50 opened with a gap up of 100 points. For a brief period, it went below 17,900, however, it soon recovered from its day’s low and continued to build on that. At the end of the trading session, Nifty 50 closed with a gain of 190.6 points or 1.07%. All the sectoral indices closed in green and Nifty PSU Bank was the best performer while Nifty Pharma, though the worst performer closed in green.      

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 88835 stood at this strike price. The second-highest call option open interest 85375 for Nifty 50 stood at a strike price of 18500. 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 84252 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 (90144 open interest added on 10-Jan-2022), followed by 17800 where (86759) open interest was added on January 10. Highest total put open interest (90744) stood at a strike price of 17500. This is followed by a strike price of 17800, which saw a total put option open interest of 86826 contracts. 

The Nifty 50 put call ratio (PCR) closed at 1.26 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 17900. 

Strike Price   

Open Interest (Call)   

18000   

88835   

18500   

85375   

19000   

84699   

18400   

71157   

18200   

61325   

 

Strike Price   

Open Interest (Put)   

17500   

90744   

17800   

86826   

17200   

84599   

17000   

83187   

17700   

80572 

SENSEX
54,208.53
-109.94 (-0.20%)
Nifty 50
16,240.30
-19.00 (-0.12%)
Nifty Bank
34,163.70
-138.20 (-0.40%)
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SENSEX
54,208.53
-109.94 (-0.20%)
Nifty 50
16,240.30
-19.00 (-0.12%)
Nifty Bank
34,163.70
-138.20 (-0.40%)

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