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 21, 2022, 05:08 PM IST

Highest put option open interest contract was added at a strike price of 16500 for expiry on March 24.

Continued war in Ukraine and surging crude oil price is taking a toll on the Indian equity market. India remained one of the worst-performing equity markets globally.

Nifty 50 opened at 17329.50 against the previous close of 17287.05. The market soon slipped into red, and it closed with a loss of 169.45 points or 0.98% at 17117.6. The broader market outperformed the frontline indices in today’s trade. Rate sensitive sectors like automobiles, banks, realty and power sectors corrected while metal sector was the sole gainer.

Activity on the F&O front for weekly expiry on March 24 shows 18000 to act as a strong resistance. Highest open interest contract of 162706 stood at this strike price. The second-highest call option open interest 110732 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 18000 in the last trading session. A total of 108290 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16500, where 31047 open interest was added today, followed by 17100 strike price where (27020) open interest was added. Highest total put open interest (77323) 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 60452 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.54 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 24 stands at 17200.

Top five call and put open interest with their strike price 

Strike Price  

Open Interest (Call)  

18000  

162706  

17500  

110732  

18100  

101211  

18200  

95092  

18500  

89800  

Strike Price  

Open Interest (Put)  

16000  

77323  

16500  

60452  

17000  

47664  

16200  

42460  

16800  

42347 

 

 

 

SENSEX
54,326.39
1,534.16 (2.91%)
Nifty 50
16,266.15
456.75 (2.89%)
Nifty Bank
34,276.40
960.75 (2.88%)
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SENSEX
54,326.39
1,534.16 (2.91%)
Nifty 50
16,266.15
456.75 (2.89%)
Nifty Bank
34,276.40
960.75 (2.88%)

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