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 22, 2022, 05:29 PM IST

Highest call option open interest contract was added at a strike price of 17700 for expiry on February 24.

Tracking the global equity market and geopolitical tension, Nifty 50 opened in deep red in today’s trade. Escalation of the situation between Russia and Ukraine where Russian president Vladimir Putin ordered troops into two breakaway regions of eastern Ukraine spooked the equity market globally. Nifty 50 opened almost 360 points down from yesterday’s close at 16847.95. In the latter half of the day, it recovered and finally closed at 17092.2, down by 114.45 points or 0.67%. European markets are currently trading with a cut of 0.5% except for the FTSE 100 Index that is trading in green. Most of the Asian markets closed in red in today’s trade.

Activity on the F&O front for weekly expiry on February 24 shows highest open interest contract of 158956 stood at a strike price of 18,000. The second-highest call option open interest 145939 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 17700 in the last trading session. A total of 67622 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 37214 open interest was added today, followed by 16500 where (36240) open interest was added. Highest total put open interest (138078) 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 129442 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.83 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 17100.

Top five call and put open interest with their strike price 

Strike Price  

Open Interest (Call)  

18000  

158956  

17500  

145939  

17700  

145056  

17600  

106742  

17800  

85801  

Strike Price  

Open Interest (Put)  

17000  

138078  

16000  

129442  

16500  

118378  

15100  

86448  

16800  

84948  

SENSEX
54,326.39
1,534.16 (2.91%)
Nifty 50
16,266.15
456.75 (2.89%)
Nifty Bank
34,276.40
960.75 (2.88%)
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SENSEX
54,326.39
1,534.16 (2.91%)
Nifty 50
16,266.15
456.75 (2.89%)
Nifty Bank
34,276.40
960.75 (2.88%)

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