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: 2022-02-09T17:08:12+05:30

Highest put option open interest contract was added at a strike price of 17400 for expiry on February 10. 

Following global cues, the Indian equity market saw a positive closing for the second consecutive day. After a positive handover from the US market and a good opening in the Asian equity market, Nifty 50 opened with a gap up of 103 points and closed with a gain of 1.14% or 197 points at 17,463. European markets are also trading in green currently. Except for FTSE, all markets are trading with a gain of more than 1%.

Activity on the F&O front for weekly expiry on February 10 shows 18000 to act as a strong resistance now. Highest open interest contract of 148504 stood at this strike price. The second-highest call option open interest 143172 for Nifty 50 stood at a strike price of 17700. In terms of the highest addition of open interest in the call options front, it was at 17700 in the last trading session. A total of 24211 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17400, where 104886 open interest was added today, followed by 17300 where (42785) open interest was added. Highest total put open interest (121734) stood at a strike price of 17400. This is followed by a strike price of 17000, which saw a total put option open interest of 119937 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.78 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 17400.

Strike Price  

Open Interest (Call)  

18000  

148504  

17700  

143172  

17800  

127793  

17600  

120399  

17500  

115191  

Strike Price  

Open Interest (Put)  

17400  

121734  

17000  

119937  

16800  

90205  

17300  

75263  

17200  

72852 


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