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: 2022-03-31T17:46:49+05:30

Highest call option open interest contract was added at a strike price of 18500 for expiry on April 7.

Nifty 50 slipped 33.5 points in today’s trade to snap a three-day winning run. The market opened at 17519.20 against the previous close of 17498.25. At close, it was down by 33.5 points or 0.19% from yesterday’s trading and closed at 17464.75.

In the final month of FY22, Nifty 50 gained over 5% and for the entire financial year, it closed with a gain of 19%. The global market is also trading in red. Asian markets closed with a loss of 0.2-1.2%, while European markets are currently trading in red.

Activity on the F&O front for weekly expiry on April 7 shows 17500 to act as a strong resistance now. Highest call open interest contract of 80120 stood at this strike price. The second-highest call option open interest 57974 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 42882 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 17354 open interest was added today, followed by 17500 strike price where (17271) open interest was added. Highest total put open interest (61324) stood at a strike price of 17500. This is followed by a strike price of 16500, which saw a total put option open interest of 41771 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 April 7 stands at 17500.

Top five call and put open interest with their strike price 

Strike Price  

Open Interest (Call)  

17500  

80120  

18500  

57974  

17600  

52442  

18000  

50822  

18200  

37100  

Strike Price  

Open Interest (Put)  

17500  

61324  

16500  

41771  

17600  

40391  

17400  

35351  

16000  

33703 


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