F&O Cues: Key support & resistance levels for Nifty 50


by 5paisa Research Team Last Updated: 2022-04-05T18:07:09+05:30

Highest put option open interest contract was added at a strike price of 18000 for expiry on April 7.

Nifty 50 saw one of the worst falls in the last few trading sessions. Profit booking in financials pulled down the market and, in the process, the domestic equity market remained one of the worst-performing markets in Asia. Nifty 50 opened at 18080.60 against the previous close of 18053.40. It closed with a fall of 96.0 points or 0.53% at 17957.4. European markets are trading mix on the back of the potential for more sanctions against Moscow, which could lead to higher commodity prices and fuel inflation concerns.

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 152961 stood at this strike price. The second-highest call option open interest 151504 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 18200 in the last trading session. A total of 46885 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 18000, where 31034 open interest was added today, followed by 17950 strike price where (13736) open interest was added. Highest total put open interest (137582) stood at a strike price of 18000. This is followed by a strike price of 17500, which saw a total put option open interest of 119910 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.93 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 17900.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

18000  

152961  

18500  

151504  

18200  

127226  

19000  

111133  

18600  

99169  

Strike Price  

Open Interest (Put)  

18000  

137582  

17500  

119910  

17000  

96582  

17400  

88755  

17800  

83532 


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