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: 2022-02-15T16:56:07+05:30

Highest put option open interest contract was added at a strike price of 17000 for expiry on February 17.

After witnessing a massive fall in yesterday’s trade, the Indian equity market opened on a positive note in today’s trade. Nifty 50 opened in green in today’s trade with a gap up of 90.45 points at 16900 but soon slipped below. Nonetheless, after 10:00 AM it started to gain and continued for the entire day. It closed almost at high point of the day by gaining 509.65 points or 3.03% at 17,352.45. There was news that tension in Ukraine has been desclated with some Russian troops going back to the base station. This led to a surge in equity and a drop in crude oil price helping the Indian market.

Activity on the F&O front for weekly expiry on February 17 shows 17700 to act as a strong resistance now. Highest open interest contract of 131992 stood at this strike price. The second-highest call option open interest 124957 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 17700 in the last trading session. A total of 50404 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17000, where 101429 open interest was added today, followed by 17300 where (41090) open interest was added. Highest total put open interest (139896) stood at a strike price of 17000. This is followed by a strike price of 16000, which saw a total put option open interest of 93471 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.76 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 17200.

Top five call and put open interest with their strike price  

Strike Price  

Open Interest (Call)  

17700  

131992  

18000  

124957  

17500  

121268  

17600  

103642  

17800  

95444  

Strike Price  

Open Interest (Put)  

17000  

139896  

16000  

93471  

16500  

91557  

16800  

66600  

16900  

59559 


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