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 17, 2022 - 05:02 pm 39.6k Views

Highest put option open interest contract was added at a strike price of 17500 for expiry on January 20.

Nifty 50 after a gap of almost two and half months has reclaimed 18,300 level. Though in the morning, it opened with a gap down of 20 points tracking SGX Nifty, in the end, it closed with a gain of 0.29% or 52.3 points at 18308.1. Nifty AUTO remains the best performing index while Nifty Pharma and Healthcare Index are the worst-performing sectors in today’s trade. Asian markets remain mixed while the European market is trading in green.

Activity on the F&O front for weekly expiry on January 20 shows the highest call option open interest at19000 strike price. Highest open interest contract of 113445 stood at this strike price. The second-highest call option open interest 98636 for Nifty 50 stood at a strike price of 18300. In terms of the highest addition of open interest in the call options front, it was at 18300 in the last trading session. A total of 27490 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 where 92648 open interest was added on January 17, followed by 18300 where 31375 open interest was added. Highest total put open interest (142999) stood at a strike price of 17500. This is followed by a strike price of 18000, which saw a total put option open interest of 104156 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.1 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 18250.

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number