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: 2022-03-07T17:04:06+05:30

Highest put option open interest contract was added at a strike price of 14750 for expiry on March 10.

The worsening situation between Russia and Ukraine is taking a toll on the equity markets globally. Nifty 50, today opened with a deep cut and below 16,000 for the first time since August 2021. It opened at 15867.95 against the previous close of 16245.35, which means a gap down of 377 points. The index closed with a cut of 382.2 points or -2.35% at 15863.15 in today’s trade. Except for the metal index, all other sectoral indices closed in red. The worst performer was Realty, which was down by 5.5%. Most of the Asian markets closed in red with a cut of around 2%, however, most of the European markets are trading with a cut of 3% currently.

Activity on the F&O front for weekly expiry on March 10 shows 17000 to act as a strong resistance now. Highest open interest contract of 153767 stood at this strike price. The second-highest call option open interest 118241 for Nifty 50 stood at a strike price of 17500. In terms of the highest addition of open interest in the call options front, it was at 17000 in the last trading session. A total of 55500 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 25085 open interest was added today, followed by 15800 strike price where (12343) open interest was added. Highest total put open interest (63155) stood at a strike price of 14750. This is followed by a strike price of 15000, which saw a total put option open interest of 60891 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.36 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 16000

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

17000  

153767  

17500  

118241  

19800  

83557  

17100  

81728  

16500  

76091  

Strike Price  

Open Interest (Put)  

14750  

63155  

15000  

60891  

15500  

46532  

14800  

41240  

15800  

35438 

 


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