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: Dec 13, 2022 - 01:22 pm 46.4k Views
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Today the Nifty F&O action for November 18 expiry shows strong resistance at 18,200.

The frontline equity index, Nifty 50 closed below the 18,000 mark in today’s trade. Although it opened in positive, but soon fell down. Attempts were made to recover the lost ground, but it did not yield much. At close, Nifty was down 0.61% or 110.2 points at 17999.2.

Activity in the F&O market for the weekly expiry on November 18, 2021, shows that resistance has remained at 18,200. The highest call option open interest (133423) for Nifty 50 stood at a strike price of 18,200. In terms of the highest addition of open interest in the call options front, it was at 18,100 in the last trading session. A total of 52,648 open interest was added at this strike price. The next highest call option open interest stands at 18,100 where total open interest stood at 117,855.

In terms of put activity, the highest put writing was seen at a strike price of 17,800 (10,274 open interest added on November 16), followed by 17,750 (8593 open interest added on November 16). The highest put open interest unwinding was seen at a strike price of 18,100 (17,730 open interest shed on November 16).

The highest total put open interest (63,379) stood at a strike price of 18,000. This is followed by a strike price of 17,800, which saw a total put option open interest of 62,523 contracts.

Following table shows the difference between call and put option at strike price near to max pain of 18000. 

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

17,700.00  

4935  

51477  

46542  

17,800.00  

17539  

62523  

44984  

17,900.00  

15853  

51228  

35375  

18000  

68885  

63379  

-5506  

18,100.00  

117855  

30528  

-87327  

18,200.00  

133423  

20090  

-113333  

18,300.00  

94175  

5103  

-89072 

The Nifty 50 put call ratio (PCR) closed at 0.6 compared to 0.8  in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

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