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: Apr 05, 2022, 11:36 AM IST

Highest call option open interest contract was added at a strike price of 17500 for expiry on February 17.

The Indian equity market saw one of the worst falls in the last ten months. Last time we saw such a fall was in April 2021 during the second wave of Covid-19. Broader market indices have already entered into correction mode technically. They are down by more than 10% from their recent highs. Even the frontline indices are down by almost 9%. Nifty 50, fell by 531.95 points in today’s trade and closed below 17,000 level for the first time in 2022. There are geopolitical issues and a rise in crude oil prices, selling by FIIs and LIC IPO may be the reason behind such fall.

Activity on the F&O front for weekly expiry on February 17 shows 17500 to act as a strong resistance now. Highest open interest contract of 150891 stood at this strike price. The second-highest call option open interest 108046 for Nifty 50 stood at a strike price of 17600. In terms of the highest addition of open interest in the call options front, it was at 17500 in the last trading session. A total of 77339 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16000, where 23648 open interest was added today, followed by 15100 where (20047) open interest was added. Highest total put open interest (79244) stood at a strike price of 16000. This is followed by a strike price of 16500, which saw a total put option open interest of 62277 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.47 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 17000.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

17500  

150891  

17600  

108046  

17400  

98518  

18000  

97928  

17800  

95425  

Strike Price  

Open Interest (Put)  

16000  

79244  

16500  

62277  

15100  

47801  

17000  

43689  

16800  

41145  

SENSEX
54,052.61
-236.00 (-0.43%)
Nifty 50
16,125.15
-89.55 (-0.55%)
Nifty Bank
34,290.15
42.55 (0.12%)
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SENSEX
54,052.61
-236.00 (-0.43%)
Nifty 50
16,125.15
-89.55 (-0.55%)
Nifty Bank
34,290.15
42.55 (0.12%)

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