F&O Cues: Key support & resistance levels for Nifty 50
Highest put option open interest contract was added at a strike price of 17000 for expiry on March 3.
After a gap of seven days Nifty 50 finally closed in green. It opened with a gap up of 267.7 points in today's trade and continued to build on that. In the end, Nifty 50 closed above 16600 at 16658.4 with a gain of 410.4 points or 2.53%. Metal and Realty names were the top gainers in today’s trade. India remained the best-performing equity index in Asia and though European markets are trading in green currently, they have gained lower than the Nifty 50. However, Nifty 50 lost 3.58% in the week.
Activity on the F&O front for weekly expiry on March 3 shows lower volumes and not much activity. Highest open interest contract of 21113 for Nifty 50 stood at a strike price of 18000. The second-highest call option open interest 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
Open Interest (Call)
Open Interest (Put)
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