//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: 2022-04-08T18:08:10+05:30

Highest put option open interest contract was added at a strike price of 16800 for expiry on April 13.

The decision by apex bank of India to maintain an accommodative stance in its policy meet on Friday was welcomed by the domestic market. RBI kept the benchmark interest rate unchanged at 4% while it lowered the FY23 GDP growth forecast to 7.2% vs 7.8% earlier and raised the inflation estimate to 5.7% vs 4.5%. Nifty 50 in today’s trade opened at 17698.15 against the previous close of 17639.55. After showing nervousness in early part of the trade, it recovered from its low and closed with a gain of 144.8 points or 0.82% at 17784.35.

Activity on the F&O front for weekly expiry on April 13 shows a wide range of trading between 18500 and 17000. Highest call open interest contract of 168521 stood at a strike price of 18500. The second-highest call option open interest 105811 for Nifty 50 stood at a strike price of 18000. 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 79455 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16800, where 54039 open interest was added today, followed by 17600 strike price where (46162) open interest was added. Highest total put open interest (79287) stood at a strike price of 17000. This is followed by a strike price of 17700, which saw a total put option open interest of 78698 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.76 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 17800.

Top five call and put open interest with their strike price  

Open Interest (Call)  

Strike Price  

168521  

18500  

105811  

18000  

99271  

19000  

85943  

17800  

65699  

17900  

Open Interest (Put)  

Strike Price  

79287  

17000  

78698  

17700  

74136  

17600  

73066  

17800  

71412  

17500 


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