F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
13th December 2022 - 05:48 pm
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 |
Tanushree Jaiswal