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: 2022-03-28T17:35:38+05:30

Highest put option open interest contract was added at a strike price of 16500 for expiry on March 31.

After a gap of three days, Indian frontline equity indices saw a positive closing in today’s trade. Getting a mixed signal from the US market, Nifty 50 opened in positive, however, soon slipped towards the 17000 mark from where it made a swift recovery.

Nifty 50 opened at 17181.85 against the previous close of 17153.00. It finally closed with a gain of 69.0 points or 0.4% at 17222.0. The Indian equity market made a recovery as the European market opened in green and are trading with a gain of more than 1% currently.

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 211175.0 stood at this strike price. The second-highest call option open interest 122508.0 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 17900 in the last trading session. A total of 65294 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 31013 open interest was added today, followed by 16400 strike price where (18476) open interest was added. Highest total put open interest (125019.0) stood at a strike price of 16500. This is followed by a strike price of 16000, which saw a total put option open interest of 122386.0 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.81 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 17150.


Top five call and put open interest with their strike price 

Strike Price  

Open Interest (Call)  

18000.0  

211175.0  

17500.0  

122508.0  

17900.0  

114226.0  

18500.0  

107610.0  

17200.0  

100060.0  

Strike Price  

Open Interest (Put)  

16500.0  

125019.0  

16000.0  

122386.0  

17000.0  

111464.0  

17200.0  

91739.0  

16800.0  

65215.0  


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Open Free Demat Account

& get benefits worth 2100*

 
Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number