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: 2022-02-11T16:36:22+05:30

Highest call option open interest contract was added at a strike price of 17400 for expiry on February 17.

The Indian equity market ended in deep red in today’s trade. Out of 50 stocks in Nifty, 44 stocks closed in red in today’s trade. Frontline indices are down by more than 1% and even for the week, it is down by 0.5%. All the sectoral indices closed in red in today’s trade. Such a poor performance was primarily due to weak global cues after a higher inflation number recorded in the US. All the major global equity indices are trading in red except for NIKKEI 225 Index. European equity indices are trading with a cut of more than 1% currently.

Activity on the F&O front for weekly expiry on February 17 shows the highest open interest contract of 91016 stood at 18,000 strike price. The second-highest call option open interest 78180 for Nifty 50 stood at a strike price of 17500, which will act as resistance now. In terms of the highest addition of open interest in the call options front, it was at 17400 in the last trading session. A total of 60066 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16300, where 48960 open interest was added today, followed by 17100 where (42132) open interest was added. Highest total put open interest (63782) stood at a strike price of 17000. This is followed by a strike price of 16500, which saw a total put option open interest of 63154 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.81 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  

91016  

17500  

78180  

17600  

75735  

17400  

67822  

17700  

59027  

Strike Price  

Open Interest (Put)  

17000  

63782  

16500  

63154  

17400  

61832  

17100  

58652  

16300  

57987  


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Open Free Demat Account

& get benefits worth 2100*

 
Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number