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 21, 2022, 05:24 PM IST

Highest call option open interest contract was added at a strike price of 17600 for expiry on January 27.

The Indian equity market continued with its downward journey for the fourth day in a row. At one point in time, it was trading below the 17,500 level. Nevertheless, the last half an hour of recovery led the market to close at 17,617 down by 139.85 points or 0.79%. In today’s trade, only FMCG closed in the green while all others closed in red, with PSU Banks and consumer durable being the worst performers. Relentless selling by FIIs and volatility in the global market has led to pressure in the Indian equity market.

Activity on the F&O front for weekly expiry on January 27 shows 18000 to act as a strong resistance now. Highest open interest contract of 188847 stood at this strike price. The second-highest call option open interest 155964 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 17600 in the last trading session. A total of 46748 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 (34296) open interest added on January 21, followed by 17600 where (33817) open interest was added. Highest total put open interest (114381) stood at a strike price of 17000. This is followed by a strike price of 17500, which saw a total put option open interest of 82979 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.72 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 17700.

Strike Price  

Open Interest (Call)  

18000  

188847  

19000  

155964  

18500  

126406  

17900  

104327  

17800  

97949  

Strike Price  

Open Interest (Put)  

17000  

114381  

17500  

82979  

16500  

77482  

17600  

73964  

16000  

72589  

SENSEX
52,973.84
180.22 (0.34%)
Nifty 50
15,842.30
60.15 (0.38%)
Nifty Bank
33,597.60
476.25 (1.44%)
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SENSEX
52,973.84
180.22 (0.34%)
Nifty 50
15,842.30
60.15 (0.38%)
Nifty Bank
33,597.60
476.25 (1.44%)

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