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: Dec 12, 2022 - 04:13 pm 33.4k Views
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Highest put option open interest contract was added at a strike price of 16000 for expiry on March 31.

Nifty 50 closed in red for the third consecutive day. Even today it kept on swinging between negative and positive. Nifty 50 opened with a gap up at 17289.00 against the previous close of 17222.75. However, it fell during the trading session and closed with a fall of 69.75 points or 0.4% at 17153.0. Indian equity market remained one of the worst-performing equity indices globally. All the European indices are currently trading with gain. Indian equity market has remained in a tight range between 17000-17500.

Activity on the F&O front for weekly expiry on March 31 shows 18000 to act as a strong resistance now. Highest call open interest contract of 155320.0 stood at this strike price. The second-highest call option open interest 119677.0 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 18100 in the last trading session. A total of 68282 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 38978 open interest was added today, followed by 17000 strike price where (18668) open interest was added. Highest total put open interest (148950.0) 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 95801.0 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.82 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  

155320.0  

18500.0  

119677.0  

17500.0  

114684.0  

18100.0  

100619.0  

17200.0  

86819.0  

Strike Price  

Open Interest (Put)  

16000.0  

148950.0  

16500.0  

95801.0  

17000.0  

94334.0  

17200.0  

78646.0  

15000.0  

63293.5 

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