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: Nov 17, 2021, 06:42 PM IST

Today the Nifty F&O action for November 18 expiry shows feeble support at 17,800.

The Indian equity market continued to close in red for the second day in a row. It opened with a negative note and moved up steadily to cross the 18,000 mark during the first one hour of trade. Nevertheless, it could not sustain the momentum and fell after that. The surge in covid cases in some countries along with a not very positive view of FIIs has made the market nervous.

Activity in the F&O market for the weekly expiry on November 18, 2021, shows that resistance has remained at 18,200. The highest call option open interest (136379) for Nifty 50 stood at a strike price of 18,200. In terms of the highest addition of open interest in the call options front, it was at 18,000 in the last trading session. A total of 67,918 open interest was added at this strike price. The next highest call option open interest stands at 18,000 where total open interest stood at 133,159.

In terms of put activity, the highest put writing was seen at a strike price of 17,900 (19,949 open interest added on November 17), followed by 17,800 (13,914 open interest added on November 17). The highest put open interest unwinding was seen at a strike price of 18,100 (13,432 open interest shed on November 17).

Highest total put open interest (75,788) stood at a strike price of 17,800. This is followed by a strike price of 17,900, which saw a total put option open interest of 70,503 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.56 compared to 0.6 in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

Following table shows the difference between call and put options at strike price near to max pain of 17900. 

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

17,800.00  

16606  

75788  

59182  

17,900.00  

62586  

70503  

7917  

18,000.00  

133159  

43057  

-90102  

18100  

118364  

12183  

-106181  

18,200.00  

136379  

8816  

-127563  

18,300.00  

96266  

3426  

-92840  

18,400.00  

59061  

1114  

-57947  

SENSEX
54,884.66
632.13 (1.17%)
Nifty 50
16,352.45
182.30 (1.13%)
Nifty Bank
35,613.30
518.40 (1.48%)
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SENSEX
54,884.66
632.13 (1.17%)
Nifty 50
16,352.45
182.30 (1.13%)
Nifty Bank
35,613.30
518.40 (1.48%)

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