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: 2022-03-24T17:00:46+05:30

Highest put option open interest contract was added at a strike price of 17200 for expiry on March 31.

Getting a negative handover from, the US market, Indian equity market also opened in red today. Nifty 50 opened below 17,200 at 17094.95 against the previous close of 17245.65. In a volatile trading session, it closed with a loss of 22.9 points or 0.13% at 17222.75.

As oil is once again on the boil, Indian equity market underperformed its global peers. Few equity indices are trading in green. Most of the European indices are trading in red. Uncertainty around US Fed and geopolitical concerns will impact the equity market trading for a while

Activity on the F&O front for weekly expiry on March 31 shows 18000 to act as a strong resistance. Highest open interest contract of 111034.0 stood at this strike price. The second-highest call option open interest 104531.0 for Nifty 50 stood at a strike price of 18500. In terms of the highest addition of open interest in the call options front, it was at 18500 in the last trading session. A total of 60616 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17200, where 31316 open interest was added today, followed by 15500 strike price where (21514) open interest was added. Highest total put open interest (109030.0) stood at a strike price of 16000. This is followed by a strike price of 17000, which saw a total put option open interest of 87473.0 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.96 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 31 stands at 17100.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

18000.0  

111034.0  

18500.0  

104531.0  

17500.0  

80493.0  

18300.0  

71153.0  

17200.0  

61514.0  

Strike Price  

Open Interest (Put)  

16000.0  

109030.0  

17000.0  

87473.0  

16500.0  

87263.0  

15500.0  

70088.0  

17200.0  

69567.0 


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