F&O CuesKey support & resistance levels for Nifty 50

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

by 5paisa Research Team Last Updated: Apr 28, 2022, 06:32 PM IST

Highest put option open interest contract was added at a strike price of 16000 for expiry on May 5. 

On the monthly expiry day, Nifty rallied more than 1% and continued with one day of up and down moves. After closing in red in yesterday’s close, Nifty 50 closed with a gain of 206.65 points or 1.21% at 17245.05, recouping yesterday’s entire loss. The recovery in the market was led by FMCG, Oil & Gas and Financials stocks. Besides, there was also positive global news and short covering seen that helped the market. Broader markets, however, underperformed frontline indices. Economic slowdown, lockdown in China, high inflation, geo-political tension and potential aggressive US rate hikes will keep the market volatile for a while.

Activity on the F&O front for weekly expiry on May 5 shows 17300 to act as a resistance now. Highest call open interest contract of 48433 stood at this strike price. The second-highest call option open interest 47190 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 17300 in the last trading session. A total of 27806 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16000, where 44794 open interest was added today, followed by 17200 strike price where (30589) open interest was added. Highest total put open interest (62849) stood at a strike price of 16000. This is followed by a strike price of 17000, which saw a total put option open interest of 59950 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.11 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 May 5 stands at 17200.

Top five call and put open interest with their strike price.

Strike Price  

Open Interest (Call)  

17300  

48433  

18000  

47190  

17500  

41357  

17200  

35169  

17800  

33855  

Strike Price  

Open Interest (Put)  

16000  

62849  

17000  

59950  

16900  

42653  

16500  

39414  

17200  

37628 

 

SENSEX
52,973.84
180.22 (0.34%)
Nifty 50
15,842.30
60.15 (0.38%)
Nifty Bank
33,597.60
476.25 (1.44%)
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SENSEX
52,973.84
180.22 (0.34%)
Nifty 50
15,842.30
60.15 (0.38%)
Nifty Bank
33,597.60
476.25 (1.44%)

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