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: 2022-02-10T16:48:38+05:30

Highest put option open interest contract was added at a strike price of 17600 for expiry on February 17.

Indian equity market gained today after a dovish stance taken by the Reserve Bank of India. In its monetary policy meeting, the apex bank of India kept all the key policy rates unchanged. This helped the Indian market to gain and Nifty 50 closed above 17,600 up by 142.05 or 0.81%. Nifty 50 opened in green however, soon slipped into the red. Nonetheless, after the policy statement by RBI, the market gained and did not lose much. Nifty Auto and Nifty PSU Bank were the only losing index and Nifty Media and Nifty Metal were the main gainer.

Activity on the F&O front for weekly expiry on February 17 shows 17600 to act as a strong resistance now. Highest open interest contract of 54456 stood at this strike price. The second-highest call option open interest 35318 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 17600 in the last trading session. A total of 43674 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17600, where 48037 open interest was added today, followed by 16500 where (42161) open interest was added. Highest total put open interest (49843) stood at a strike price of 16500. This is followed by a strike price of 17600, which saw a total put option open interest of 49529 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.04 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 17600.

Strike Price  

Open Interest (Call)  

17600  

54456  

18000  

35318  

17800  

33037  

18100  

32619  

18500  

32041  

Strike Price  

Open Interest (Put)  

16500  

49843  

17600  

49529  

17400  

46376  

17500  

36599  

17300  

34106 


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