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: Dec 15, 2022 - 06:34 pm 35k Views
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Highest put option open interest contract was added at a strike price of 16200 for expiry tomorrow.

Sensex and Nifty 50 saw one of the best rises in recent times led by Reliance Industries and Financials. Nifty 50 opened at 16078.0 against the previous close of 16013.45. It finally closed with a gain of 331.9 points or 2.07% at 16345.35. Even BSE Sensex closed with a gain of 1223.24 points at 54,647.33.

Reliance Industries, gained by 5.24%, contributing almost one-third of the gain in Sensex. Among the Asian equity market, the Indian equity market remained one of the best-performing markets. European markets opened in green and are trading with a gain of more than 3%.

Activity on the F&O front for weekly expirytomorrow shows 17000 to act as a strong resistance now. Highest open interest contract of 193317 stood at this strike price. The second-highest call option open interest 110189 for Nifty 50 stood at a strike price of 16800. In terms of the highest addition of open interest in the call options front, it was at 16800 in the last trading session. A total of 19666 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16200, where 51443 open interest was added today, followed by 16300 strike price where (44729) open interest was added. The highest total put open interest (112230) stood at a strike price of 15500. This is followed by a strike price of 16000, which saw a total put option open interest of 93708 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.73 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 tomorrow stands at 16200.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

17000  

193317  

16800  

110189  

16500  

86680  

16700  

84208  

16900  

76524  

Strike Price  

Open Interest (Put)  

15500  

112230  

16000  

93708  

15000  

89488  

16200  

60831  

15800  

59956 

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