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 24, 2022, 06:04 PM IST

Highest put option open interest contract was added at a strike price of 17000 for expiry on March 3.

Indian equity market logged the fourth-worst fall ever. Nifty 50 fell by 815.3 points or 4.78% down and closed at 16247.95. Last time we saw such a level was in August 2021. The conflict between Russia and Ukraine has taken a centre stage now for the global equity market. Geo-political tension escalated with Russia invading parts of Ukraine. The repercussion of which is visible in the entire equity market globally.

Indian equity market is no exception and saw one of the worst falls ever. It remained one of the worst performers in the Asian equity market. European equity markets are also trading in red currently with the French and German markets trading with a cut of more than 4%.

Activity on the F&O front for weekly expiry on March 3 remained quite lacklustre as market participants remained unsure of the market movement. Highest open interest contract of 21113 stood at 18000 strike price. The second-highest call option open interest stood of 19873 for Nifty 50 stood at a strike price of 17200. 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 11897 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 15486 open interest was added today, followed by 17200 where (8989) open interest was added. Highest total put open interest (27088) 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 15691 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.79 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 March 3 stands at 17150.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

18000  

21113  

17200  

19873  

17500  

19020  

17300  

15599  

17900  

13220  

Strike Price  

Open Interest (Put)  

17000  

27088  

16500  

15691  

16000  

15010  

17100  

13050  

17200  

12426 

SENSEX
54,656.34
329.95 (0.61%)
Nifty 50
16,351.95
85.80 (0.53%)
Nifty Bank
34,644.10
367.70 (1.07%)
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SENSEX
54,656.34
329.95 (0.61%)
Nifty 50
16,351.95
85.80 (0.53%)
Nifty Bank
34,644.10
367.70 (1.07%)

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