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: Feb 18, 2022, 05:11 PM IST

Highest put option open interest contract was added at a strike price of 16800 for expiry on February 24.

The volatile week ended on a negative note for the Indian equity market. Nonetheless, for the entire week, Nifty 50 gained by 1.68%. Though the market opened in red, it remained in green territory most of the day, however, as the news came that Russia will be conducting a deterrence military drill on Saturday, selling pressure emerged and Nifty 50 erased all its gain. At closing, it was at 17276.3, down by 28.3 points or 0.16 per cent. The broader market underperformed the frontline indices and Mid-cap indices were down by almost one per cent. Asian market is closed mostly in red and European markets are trading mix currently.

Activity on the F&O front for weekly expiry on February 24, shows 18000 to act as a strong resistance now. Highest open interest contract of 141839 stood at this strike price. The second-highest call option open interest 99855 for Nifty 50 stood at a strike price of 17500. In terms of the highest addition of open interest in the call options front, it was at 18000 in the last trading session. A total of 42878 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16800, where 31563 open interest was added today, followed by 17300 where (29661) open interest was added. Highest total put open interest (122600) 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 93235 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.93 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 for weekly expiry on February 24 stands at 17300.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

18000  

141839  

17500  

99855  

18500  

81568  

17800  

77390  

17300  

66446  

Strike Price  

Open Interest (Put)  

17000  

122600  

16500  

93235  

16000  

83788  

15100  

83266  

17300  

73518 

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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