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: 2022-04-27T17:29:49+05:30

Highest put option open interest contract was added at a strike price of 17000 for expiry tomorrow.

The Indian equity market is moving one step forward and one step backward. It rose in yesterday’s trade and again fell in today’s trade. Frontline indices, BSE Sensex and Nifty 50 tumbled by 529.72 points and 162.60 points to close at 56,819.39 and 17,038.40, respectively. In today’s trade the best performing index was NIFTY MEDIA it was up by 0.07%. Rest all indices closed in red. The worst performing index in today's trade was NIFTY FINANCIAL SERVICES. It is down by -1.47%. Global equity markets are trading mixed. European market is trading in green, while NIKKEI 225 closed in red with a cut of over 1%.

Activity on the F&O front for weekly expiry tomorrow shows 17500 to act as a strong resistance now. Highest call open interest contract of 173704 stood at this strike price. The second-highest call option open interest 163112 for Nifty 50 stood at a strike price of 17300. In terms of the highest addition of open interest in the call options front, it was at 17100 in the last trading session. A total of 90095 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17000, where 50193 open interest was added today, followed by 16500 strike price where (22580) open interest was added. Highest total put open interest (200939) stood at a strike price of 17000. This is followed by a strike price of 16400, which saw a total put option open interest of 148260 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 tomorrow stands at 17100.

Top five call and put open interest with their strike price

Strike Price  

Open Interest (Call)  

17500  

173704  

17300  

163112  

17200  

155247  

17600  

142184  

17100  

139691  

Strike Price  

Open Interest (Put)  

17000  

200939  

16400  

148260  

16500  

127124  

16900  

92208  

16000  

88060 


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Open Free Demat Account

& get benefits worth 2100*

 
Resend OTP
Please Enter OTP
  • Have Promo code?
  • Use code ACT2100
Enter Promo code

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number