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: Feb 01, 2022, 05:19 PM IST

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)  

18000  

154103  

18500  

144523  

18200  

117063  

19000  

95285  

19800  

90201  

Strike Price  

Open Interest (Put)  

16500  

108291  

17000  

100478  

16000  

74533  

17200  

68360  

15100  

68060  

SENSEX
54,252.53
503.27 (0.94%)
Nifty 50
16,170.15
144.35 (0.90%)
Nifty Bank
35,094.90
755.40 (2.20%)
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SENSEX
54,252.53
503.27 (0.94%)
Nifty 50
16,170.15
144.35 (0.90%)
Nifty Bank
35,094.90
755.40 (2.20%)

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