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: 2022-02-24T12:03:57+05:30

Highest call option open interest contract was added at a strike price of 17200 for expiry tomorrow.

Indian equity market tracking the Asian equity market opened in the green today and looked to break the five-day losing streak. Nevertheless, by the end of the trading, Nifty 50 closed in red. This is the sixth day in a row that Nifty 50 closed lower. At the close, it was down by 0.17 % or 28.95 points at 17063.25. Private banking heavyweights such as ICICI Bank and HDFC Bank along with Reliance Industries dragged the market while Titan and Kotak Mahindra supported the market.

Activity on the F&O front for weekly expiry tomorrow shows 17500 to act as a strong resistance now. Highest open interest contract of 185371 stood at this strike price. The second-highest call option open interest 178433 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 17200 in the last trading session. A total of 96762 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16500, where 84576 open interest was added today, followed by 17100 where (40895) open interest was added. Highest total put open interest (180062) stood at a strike price of 16500. This is followed by a strike price of 17000, which saw a total put option open interest of 122705 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.73 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 tomorrow stands at 17100.

Top five call and put open interest with their strike price 

Strike Price  

Open Interest (Call)  

17500  

185371  

18000  

178433  

17400  

156231  

17200  

147916  

17300  

124557  

Strike Price  

Open Interest (Put)  

16500  

180062  

17000  

122705  

16000  

100544  

17100  

82311  

16800  

78385 

 

Also read: Closing Bell: Losing streak continues; Nifty holds 17000


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Open Free Demat Account

& get benefits worth 2100*

 
Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number