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: 2022-02-16T16:38:41+05:30

Highest put option open interest contract was added at a strike price of 17300 for expiry tomorrow.

In a very volatile trading day, Nifty 50 finally ended in the red. Although the range of movement was not very wide and Nifty 50 moved in a range of 233 points, it saw swinging between negative and positive for a couple of times. In the end, it closed down by 30.25 points or 0.17% at 17,322 points. India underperformed its Asian peers in today’s trade as the Indian market had already reacted to the easing of tension between Ukraine and Russia in yesterday’s trade. Europe is also currently trading in green except for FTSE 100.

Activity on the F&O front for weekly expiry tomorrow shows 17500 to act as a strong resistance now. Highest open interest contract of 171314 stood at this strike price. The second-highest call option open interest 151956 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 17600 in the last trading session. A total of 56089 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17300, where 43604 open interest was added today, followed by 17400 where (34190) open interest was added. Highest total put open interest (128264) stood at a strike price of 17000. This is followed by a strike price of 16500, which saw a total put option open interest of 112080 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.78 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 17350.

Top five call and put open interest with their strike price 

Strike Price  

Open Interest (Call)  

17500  

171314  

17600  

151956  

18000  

150372  

17700  

131154  

17800  

116993  

Strike Price  

Open Interest (Put)  

17000  

128264  

16500  

112080  

17300  

84900  

16800  

81950  

16000  

71219 


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