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: 2022-02-01T17:19:12+05:30

Highest call option open interest contract was added at a strike price of 18200 for expiry on February 3.

Nifty 50 ended on a positive note in a volatile trading session. Though it opened with a gap up of around 200 points and touched intraday high of 17,622.4 during noon, soon after budget it fell sharply to negative territory. Nonetheless, it made a smart recovery and closed at 17,576.85 for the day up by 237 points or 1.37 per cent. Besides no-negative news from the budget is what helped the market as was shown by world equity indices. S&P500 and Nasdaq composite indices were up by 1.89% and 3.4% per cent, respectively. Even European equity markets are currently trading with a gain of one per cent.

Activity on the F&O front for weekly expiry on February 3 shows 18000 to act as a strong resistance now. Highest open interest contract of 154103 stood at this strike price. The second-highest call option open interest 144523 for Nifty 50 stood at a strike price of 18500. In terms of the highest addition of open interest in the call options front, it was at 18200 in the last trading session. A total of 78188 open interest was added at this strike price.

 In terms of put activity, the highest put writing was seen at a strike price of 16500, where 57496 open interest was added today, followed by 17000 where (54551) open interest added. Highest total put open interest of 108291 stood at a strike price of 16500. This is followed by a strike price of 17000, which saw a total put option open interest of 100478 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.76 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 17500.

Strike Price  

Open Interest (Call)  











Strike Price  

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