F&O Cues: Key support & resistance levels for Nifty 50
Last Updated: 31st January 2022 - 05:04 pm
Highest put option open interest contract was added at a strike price of 17300 for expiry on February 3.
The Indian equity market today opened with a gap-up with Nifty 50 opening almost 200 points above its previous close. The reason for such a strong opening was a better show by Wall Street on Friday, which saw a strong rebound especially by Nasdaq which rallied by 3.13%. In the domestic market also we saw IT leading from the front and remained the top gainer in today’s trade. Ahead of Union Budget, traders are cautious and hence we saw a bit of profit booking in last half hour of trade. Nifty finally closed at 17,339.85 up by 1.39 % or 237.9 points
Activity on the F&O front for weekly expiry on February 3 shows 18500 to act as a strong resistance now. Highest open interest contract of 100893 stood at this strike price. The second-highest call option open interest 98279 for Nifty 50 stood at a strike price of 18000. In terms of the highest addition of open interest in the call options front, it was at 18500 in the last trading session. A total of 39674 open interest was added at this strike price.
In terms of put activity, the highest put writing was seen at a strike price of 17300, where 26630 open interest was added on January 31, followed by 16000 where (20187) open interest was added. Highest total put open interest (73206) stood at a strike price of 15100. This is followed by a strike price of 16000, which saw a total put option open interest of 60029 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 17300.
Strike Price |
Open Interest (Call) |
18500 |
100893 |
18000 |
98279 |
19000 |
93232 |
19800 |
75807 |
17900 |
59818 |
Strike Price |
Open Interest (Put) |
15100 |
73206 |
16000 |
60029 |
16500 |
51363 |
17300 |
49628 |
17000 |
48028 |
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5paisa Research Team
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