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: Mar 16, 2022, 07:26 PM IST

Highest call option open interest contract was added at a strike price of 18000 for expiry tomorrow.

 After a gap of one day, the Indian equity market has regained its momentum. In today’s trade taking cues from SGX Nifty, Nifty 50 opened gap up at 16876.65 against the previous close of 16663.0. It closed with a gain of 312.35 points or 1.87% at 16975.35. A drastic drop in crude oil prices, China’s pledge to support its economy and likely resolution of the Russia-Ukraine war has triggered such a rally. Global equity markets are also trading with a positive bias and the pan-European STOXX 600 index is currently trading with a gain of 1.99%.

Activity on the F&O front for weekly expiry tomorrow shows 17500 to act as a strong resistance now. Highest open interest contract of 173468 stood at this strike price. The second-highest call option open interest 124615 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 18000 in the last trading session. A total of 42738 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 82046 open interest was added today, followed by 16900 strike price where (64214) open interest was added. Highest total put open interest (177116) stood at a strike price of 16000. This is followed by a strike price of 16500, which saw a total put option open interest of 85185 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.84 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 tomorrow stands at 16900.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

17500  

173468  

18000  

124615  

17000  

108869  

17400  

107119  

17300  

88482  

Strike Price  

Open Interest (Put)  

16000  

177116  

16500  

85185  

16900  

77366  

16200  

66310  

16700  

62839 

SENSEX
52,973.84
180.22 (0.34%)
Nifty 50
15,842.30
60.15 (0.38%)
Nifty Bank
33,597.60
476.25 (1.44%)
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SENSEX
52,973.84
180.22 (0.34%)
Nifty 50
15,842.30
60.15 (0.38%)
Nifty Bank
33,597.60
476.25 (1.44%)

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