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: 2022-03-11T17:10:06+05:30

Highest put option open interest contract was added at a strike price of 16000 for expiry on March 17.

After gaining by almost 1000 points in last three trading sessions, Nifty 50 moved into a consolidation move today.  After opening with a gap down of 66.1 points it made an intraday recovery and closed with a gain of 35.55 points or 0.21%at 16630.45. Among Asian peers, Nifty 50 remained one of the best performing sectors while European markets are trading with a gain of almost 1%. Going ahead, market participants will be looking after the US FED move as US inflation accelerated to a 40-year high in Feb’22 to 7.9%. Failed talk between Russia and Ukraine remained an overhang on the market.

Activity on the F&O front for weekly expiry on March 17 shows 17500 to act as a strong resistance now. Highest open interest contract of 86674 stood at this strike price. The second-highest call option open interest 80426 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 17500 in the last trading session. A total of 41098 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16000, where 30727 open interest was added today, followed by 16500 strike price where (24587) open interest was added. Highest total put open interest (72810) 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 52182 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.74 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 17 stands at 16600.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

17500  

86674  

17000  

80426  

18000  

79274  

17600  

45876  

19800  

45061  

Strike Price  

Open Interest (Put)  

16000  

72810  

15000  

52182  

16500  

45359  

15500  

43371  

16600  

32692 

 


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