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 27, 2022, 05:10 PM IST

Highest put option open interest contract was added at a strike price of 15100 for expiry on February 3.

Getting a negative cue from the US market, the Indian equity market too opened red in today’s trade. At one point in time, it was trading below the 16900 level. Nonetheless, recovery in the market from 12:20 PM helped to recoup some of the losses. In the end, Nifty 50 closed 167.8 down or 0.97% at 17110.15. This fall was on the back of the Federal Reserve plan for an interest rate increase in March and more policy tightening to curb high inflation. This spooked the equity markets globally including India.

Activity on the F&O front for weekly expiry on February 3 does not give a clear picture as we have Union Budget on February 1. Currently, the highest open interest contract of 66693 stood at a strike price of 19800. The second-highest call option open interest of 50055 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 19800 in today’s trading session. A total of 61382 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 15100, where 43881 open interest was added on January 27 followed by 15500 where (21751) open interest was added. Highest total put open interest (45674) stood at a strike price of 15100. This is followed by a strike price of 17000, which saw a total put option open interest of 33369 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.65 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 17100.

Strike Price  

Open Interest (Call)  

19800  

66693  

19000  

50055  

18000  

39685  

17000  

30900  

18500  

29414  

Strike Price  

Open Interest (Put)  

15100  

45674  

17000  

33369  

16500  

29297  

16000  

28253  

15500  

24457 

SENSEX
54,326.39
1,534.16 (2.91%)
Nifty 50
16,266.15
456.75 (2.89%)
Nifty Bank
34,276.40
960.75 (2.88%)
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SENSEX
54,326.39
1,534.16 (2.91%)
Nifty 50
16,266.15
456.75 (2.89%)
Nifty Bank
34,276.40
960.75 (2.88%)

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