F&OCues:Key support & resistance levels for Nifty 50

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

by 5paisa Research Team Last Updated: 2022-04-29T18:38:04+05:30

Highest put option open interest contract was added at a strike price of 17100 for expiry on May 5.

Indian equity market gave all its early gain after witnessing a sharp selloff in the last half hour of trade. BSE Sensex fell by more than 900 points from the day’s high and closed with a decline of 460.19 points at 57060.87. Nifty 50 opened at 17329.25 against the previous close of 17245.05 and closed with a slump of 142.5 points or 0.83% at 17102.55.

Companies that dragged the indices were Axis Bank, Reliance, and Infosys. All the sectoral indices closed in red in today’s trade. Indian equity market remained one of the worst performers globally. European equities are trading in green as strong earnings reports and a rally in technology stocks boosted risk appetite.

Activity on the F&O front for weekly expiry on May 5 shows highest call open interest contract of 121998 stood at 18000 strike price. The second-highest call option open interest 106466 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 18500 in the last trading session. A total of 84559 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17100, where 58103 open interest was added today, followed by 16200 strike price where (50597) open interest was added. Highest total put open interest (89360) stood at a strike price of 17000. This is followed by a strike price of 17100, which saw a total put option open interest of 87829 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.7 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)  

18000  

121998  

17300  

106466  

18500  

99162  

17500  

90990  

17800  

88463  

Strike Price  

Open Interest (Put)  

17000  

89360  

17100  

87829  

16200  

69730  

16000  

65978  

16800  

51676 


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