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 22, 2022, 05:21 PM IST

Highest put option open interest contract was added at a strike price of 16300 for expiry on March 24.

Hawkish view of US Fed and rising crude oil prices have not deterred bulls in today’s trade and they made a swift recovery from day’s lows to close at the highest point of the day.

Nifty 50 opened at 17120.40 against the previous close of 17117.60. It rose 197.90 points or 1.16 per cent to close at 17,315.50. From its day’s low of 17006.3, it gained more than 300 points. Indian equity market remained one of the best performing equity indices globally. Hang Seng Index and NIKKEI 225 Index are equity indices that performed better than Nifty 50.

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 147308 stood at this strike price. The second-highest call option open interest 112380 for Nifty 50 stood at a strike price of 17800. In terms of the highest addition of open interest in the call options front, it was at 17800 in the last trading session. A total of 44037 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16300, where 67037 open interest was added today, followed by 17000 strike price where (43625) open interest was added. Highest total put open interest (97142) stood at a strike price of 16300. This is followed by a strike price of 17000, which saw a total put option open interest of 88122 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.76 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 17300.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

18000  

147308  

17800  

112380  

17600  

107501  

17500  

101921  

17400  

85227  

Strike Price  

Open Interest (Put)  

16300  

97142  

17000  

88122  

16000  

85458  

16500  

77511  

16800  

60947  

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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