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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 14/01/2022

Highest put option open interest contract was added at a strike price of 17200 for expiry on January 20.

The Indian equity market made a smart recovery from its intra-day lows. It opened with a gap down of 72 points at 18185 and went on to a touch low of 18,119. Nevertheless, post noon it continued its rise and touched a high of 18,286 before closing at 18,255. It closed with a minor loss of two points after a continuous gain in the last five trading sessions. Among sectors except for IT, Consumer Durables and Realty, all other sectors ended in the red.

Activity on the F&O front for weekly expiry on January 20 shows that call options writers are playing safe and writing call at 19000 for Nifty. Highest open interest contract of 140462 stood at this strike price. The second-highest call option open interest 90725 for Nifty 50 stood at a strike price of 18200. 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 89409 open interest was added at this strike price.

When it comes to put activity, the highest put writing was seen at a strike price of 17200 where 69955 open interest was added on January 14, followed by 18200 where 54022 open interest was added. Highest total put open interest (100689) stood at a strike price of 18200. This is followed by a strike price of 18000, which saw a total put option open interest of 93658 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.98 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)  

19000  

140462  

18200  

90725  

19500  

80611  

18800  

74930  

18300  

71903  

Strike Price  

Open Interest (Put)  

18200  

100689  

18000  

93658  

17200  

84148  

17900  

60967  

17000  

60866  

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