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 11, 2022 - 04:17 am 45.8k Views
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Today the Nifty F&O action for November 25 expiry shows 17,500 to remain an important level.

The highest put and call writing was seen at 17,500.

Indian equity market finally broke four days of losing streak in today’s trade. Nevertheless, the opening of the trade was not so encouraging and it seemed that today also, we will close in deep red. Frontline equity indices opened with a gap down and made intraday low in the first 15 minutes of trading. However, by the end of the day, Nifty closed in green and was up 0.50% or 86.8 points at 17503.3 and also bounced back from its 20 weekly EMA. Nifty VIX continued its uptrend and was up by 2.83% in today’s trade and closed at 18.02

Activity in the F&O market for the weekly expiry on November 25, 2021, shows 17,800 to act as the first line of strong resistance followed by 18,000. The highest call option open interest (161589) for Nifty 50 stood at a strike price of 18,000. In terms of the highest addition of open interest in the call options front, it was at 17,500 in the last trading session. A total of 26,275 open interest was added at this strike price. The next highest call option open interest stands at 17,800 where total open interest stood at 126,544.

In terms of put activity, the highest put writing was seen at a strike price of 17,500 (26,275 open interest added on November 23), followed by 17,650 (11,850 open interest added on November 23). The highest put open interest unwinding was seen at a strike price of 17,700 (6346 open interest shed on November 23).

Highest total put open interest (101,923) stood at a strike price of 17,000. This is followed by a strike price of 17,500, which saw a total put option open interest of 89,499 contracts.

Following table shows the difference between call and put options at strike price near to max pain of 17500. 

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

  

17,200.00  

6840  

59608  

52768  

17,300.00  

18282  

84759  

66477  

17,400.00  

32049  

83594  

51545  

17500  

92342  

89499  

-2843  

17,600.00  

89570  

28629  

-60941  

17,700.00  

93287  

18186  

-75101  

17,800.00  

126544  

36401  

-90143  

 

 

 

 

 

 

 

 

The Nifty 50 put call ratio (PCR) closed at 0.66 compared to 0.5  in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

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