F&O Cues: Key support & resistance levels for Nifty 50
Last Updated: 8th December 2022 - 10:08 pm
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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5paisa Research Team
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