/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: 2022-04-07T17:57:22+05:30

Highest put option open interest contract was added at a strike price of 17700 for expiry on April 13. 

Frontline equity indices closed in red for the third day in a row. Global cues were not favourable and the domestic equity market opened with a gap down. Nifty 50 opened at 17723.30 against the previous close of 17807.65. It closed with a fall of 168.1 points or 0.94% at 17639.55. Asian markets also closed in red in today’s trade, however, European markets are currently trading in green. The broader markets that were outperforming the frontline market for the last few days, however, saw pressure in today’s trade and the breadth of the market was in favour of declines.

Activity on the F&O front for weekly expiry on April 13 shows highest call open interest contract of 89233 stood at 19000 strike price. The second-highest call option open interest 88666 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 19000 in the last trading session. A total of 70863 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17700, where 24961 open interest was added today, followed by 16500 strike price where (24718) open interest was added. Highest total put open interest (42578) stood at a strike price of 17800. This is followed by a strike price of 17000, which saw a total put option open interest of 40717 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.52 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 13 stands at 17750. 

Top five call and put open interest with their strike price 

Strike Price  

Open Interest (Call)  

19000  

89233  

18500  

88666  

18000  

79143  

17900  

77044  

17800  

70675  

Strike Price  

Open Interest (Put)  

17800  

42578  

17000  

40717  

17700  

37921  

17500  

31623  

16500  

31024 


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