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 19, 2022, 04:50 PM IST

Highest put option open interest contract was added at a strike price of 17900 for expiry on January 20.

For the second day in a row, Nifty 50 suffered a loss in triple digits. Though it opened in positive, it soon slipped into the red. At one point in time, it breached 17900 level and in the end, closed below 18000 level at 17938.4 down by 174.65 points. Rising crude oil prices, inching inflation and higher bond yields have led to such a decline in the equity market. Nifty PSU Bank remained the best performer in today’s trade while IT continued to see pressure and remained the worst performer.

Activity on the F&O front for weekly expiry on January 20 shows 18300 to act as a strong resistance now. Highest open interest contract of 163948 stood at this strike price. The second-highest call option open interest 146573 for Nifty 50 stood at a strike price of 18100. 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 124091 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17900 (27715) open interest added on January 19, followed by 17700 where (25873) open interest was added. Highest total put open interest (94980) stood at a strike price of 17500. This is followed by a strike price of 17900, which saw a total put option open interest of 85286 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.49 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 18000. 

Strike Price  

Open Interest (Call)  

18300  

163948  

18100  

146573  

18600  

144342  

18200  

143882  

18000  

140240  

Strike Price  

Open Interest (Put)  

17500  

94980  

17900  

85286  

17800  

81447  

17700  

73843  

18000  

63068  

SENSEX
54,318.47
1,344.63 (2.54%)
Nifty 50
16,259.30
417.00 (2.63%)
Nifty Bank
34,301.90
704.30 (2.10%)
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SENSEX
54,318.47
1,344.63 (2.54%)
Nifty 50
16,259.30
417.00 (2.63%)
Nifty Bank
34,301.90
704.30 (2.10%)

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