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F&O Cues: Key support & resistance levels for Nifty 50

F&O Cues: Key support & resistance levels for Nifty 50
by 5paisa Research Team 13/01/2022

Highest put option open interest contract was added at a strike price of 17000 for expiry on January 20.

For the fifth day in a row, the Indian equity market closed with gains. Getting a positive cue from the global market and better quarterly results posted by Indian IT majors, Nifty 50 opened positively and swung between red and green throughout. It was the last half-hour rally that helped Nifty 50 to close in green. At close, Nifty was up 0.25% or 45.4 points at 18257.5. Bank Nifty, after outperforming for the last few days, underperformed the market in today’s trade.

Activity on the F&O front for weekly expiry on January 20 shows 18200 to act as a strong resistance now. Highest open interest contract of 50084 stood at this strike price. The second-highest call option open interest 48953 for Nifty 50 stood at a strike price of 19000. In terms of the highest addition of open interest in the call options front, it was at 19000 in the last trading session. A total of 45655 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17000 (53406) open interest added on (January 13), followed by 18000 where (52855) open interest was added on January 13. Highest total put open interest (63378) stood at a strike price of 17000. This is followed by a strike price of 18000, which saw a total put option open interest of 59944 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.09 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 18200. 

Strike Price  

Open Interest (Call)  

18200  

50084  

19000  

48953  

18300  

48695  

18500  

40027  

18800  

38209  

Strike Price  

Open Interest (Put)  

17000  

63378  

18000  

59944  

18200  

45587  

17900  

32049  

17500  

26427  

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