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: 2022-03-03T17:30:13+05:30

Highest put option open interest contract was added at a strike price of 15000 for expiry on March 10.

Tracking a global positive cue from the US market, Nifty 50 too opened in green at 16723.2 against the previous close of 16605.95, which means a gap up of 118 points. Nonetheless, as the day progressed it erased all the gains and finally closed below 16500 with a loss of 107.9 points or 0.65% at 16498.05.

What helped the Indian equity market was commodity companies and IT companies while banking names continued to drag the market. Asian markets closed mixed while the European markets are currently trading in the red.

Activity on the F&O front for weekly expiry on March 10 shows the highest open interest contract of 62900 stood at 19800 strike price. The second-highest call option open interest 49031 for Nifty 50 stood at a strike price of 17000. In terms of the highest addition of open interest in the call options front, it was at 19800 in the last trading session. A total of 56013 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 15000, where 23501 open interest was added today, followed by 15500 strike price where 18291 open interest was added. Highest total put open interest (36592) stood at a strike price of 15000. This is followed by a strike price of 16000, which saw a total put option open interest of 36365 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.55 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 10 stands at 16600.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

19800  

62900  

17000  

49031  

18000  

47151  

17500  

43217  

17800  

35324  

Strike Price  

Open Interest (Put)  

15000  

36592  

16000  

36365  

16500  

35245  

14800  

32044  

15500  

29365 


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