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: 2022-02-28T17:28:46+05:30

Highest call option open interest contract was added at a strike price of 17500 for expiry on March 3.

Indian equity market remained the top performer in today’s trade. Though Nifty 50 opened with a gap down of almost 176 points, however, it recouped all its losses and finally closed with a gain of 0.81% or 135.5 points to end at 16793.9. Asian equity market closed with a gain of 0.2% to 0.73% while the European equity markets are bleeding with a cut of more than 1.5%. This is after western nations imposed fresh sanctions on Russia over its invasion of Ukraine, while President Vladimir Putin put nuclear forces on a higher alert. Shares of European banks with links to Russia suffered the sharpest declines.

Activity on the F&O front for weekly expiry on March 3 shows 17500 to act as a strong resistance. Highest open interest contract of 150153 stood at this strike price. The second-highest call option open interest 98707 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 17500 in the last trading session. A total of 44794 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 14750, where 51569 open interest was added today, followed by 15000 strike price where (45715) open interest was added. Highest total put open interest (89573) stood at a strike price of 16000. This is followed by a strike price of 15000, which saw a total put option open interest of 78664 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 March 3 stands at 16700.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

17500  

150153  

18000  

98707  

17400  

81670  

17000  

74372  

17200  

63842  

Strike Price  

Open Interest (Put)  

16000  

89573  

15000  

78664  

15500  

76095  

16500  

73693  

14750  

70228 


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