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: 2022-02-02T17:37:19+05:30

Highest put option open interest contract was added at a strike price of 17700 for expiry on February 3.

Joining the global equity market, the Indian equity market too rallied in today’s trade. All Asian markets except for Shanghai Composite Index were up by more than 1% in today’s trade. Even the European market has opened up in green and trading with a gain of more than 0.5%. What supported the Indian equity market today were banks both private and public sector owned. They were the best sectoral gainers in today’s trade. All sectoral indices gained in today’s trade. At close, Nifty was up 1.16% or 203.1 points at 17780.

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 183063 stood at this strike price. The second-highest call option open interest 113298 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 18050 in the last trading session. A total of 52173 open interest was added at this strike price.

 In terms of put activity, the highest put writing was seen at a strike price of 17700, where 84659 open interest was added today, followed by 17600 where (67115) open interest was added. Highest total put open interest (105950) stood at a strike price of 17000. This is followed by a strike price of 17200, which saw a total put option open interest of 100886 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.96 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 17700.

Strike Price  

Open Interest (Call)  

18000  

183063  

18500  

113298  

18100  

106643  

18200  

90332  

17800  

76396  

Strike Price  

Open Interest (Put)  

17000  

105950  

17200  

100886  

17600  

95284  

17500  

94292  

17700  

93594  


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