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: Apr 01, 2022, 05:43 PM IST

Highest put option open interest contract was added at a strike price of 16500 for expiry on April 7.

Indian equity market today saw a subdued opening, however, quickly gained and shifted towards positive territory. The gain made in the last half an hour of trade led Nifty 50 to end near 17,700 and Sensex was up by 708 points. India remained the best performing equity indices in today’s trade. It is the only index that has closed with a gain of more than 1%.

Nifty 50 opened at 17436.90 against the previous close of 17464.75. It closed with a gain of 205.7 points or 1.18% at 17670.45. Out of the last five trading sessions, our market has gained in four.

Activity on the F&O front for weekly expiry on April 7 shows 18000 to act as a strong resistance now. Highest call open interest contract of 87479 stood at this strike price. The second-highest call option open interest 79909 for Nifty 50 stood at a strike price of 17600. In terms of the highest addition of open interest in the call options front, it was at 18000 in the last trading session. A total of 35832 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 62284 open interest was added today, followed by 17400 strike price where (49986) open interest was added. Highest total put open interest (104486) stood at a strike price of 16500. This is followed by a strike price of 17500, which saw a total put option open interest of 100484 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.18 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)  

18000  

87479  

17600  

79909  

17500  

65823  

18500  

55818  

18200  

50420  

Strike Price  

Open Interest (Put)  

16500  

104486  

17500  

100484  

17400  

85177  

17600  

65669  

17300  

60340 

SENSEX
53,394.32
600.70 (1.14%)
Nifty 50
15,937.85
155.70 (0.99%)
Nifty Bank
33,646.15
524.80 (1.58%)
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SENSEX
53,394.32
600.70 (1.14%)
Nifty 50
15,937.85
155.70 (0.99%)
Nifty Bank
33,646.15
524.80 (1.58%)

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