F&O Cues: Key support and resistance levels for Nifty 50
5paisa Research Team
8th November 2021 - 08:40 am
Nifty F&O action for November 11 expiry shows the highest put writing was seen at a strike price of 17,000.
After a long weekend, the Indian equity market is likely to open with a positive note. However, the future course of the market will be dependent upon FIIs flows, macro-economic data and earnings reports that are slated to come out this week. In a major global cue, last week US Federal Reserve left the rate unchanged and continued with its accommodative stance. This will have a positive impact on the Indian bourses. This was partly reflected during ‘Muhurat’ trading where key equity indices closed in green and Sensex reclaimed 60,000.
Activity on the F&O market for the weekly expiry on November 11, 2021, does not give a clear picture and open interest is spread everywhere. The highest call option open interest (71,651) for Nifty 50 stood at a strike price of 20,000. In terms of the highest addition of open interest on call options front was at 18,300 in the last trading session. A total of 22,496 open interest was added at this strike price. The next highest call option open interest stands at 18,000 where total open interest stood at 60,597.
In terms of put activity, the highest put writing was seen at strike price of 17000 (36,664 open interest added on November 03), followed by 17,700 (19,970 open interest added on November 03), while there was put unwinding at strike price 17,250, followed by 18,200.
Highest total put open interest (64,579) stood at a strike price of 17,000. This is followed by a strike price of 17,500, which saw a total put option open interest of 40,960 contracts.
Following table shows the difference between call and put options at strike price near to max pain of 17900.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
17,600.00 |
1266 |
25690 |
24424 |
|
17,700.00 |
3980 |
34589 |
30609 |
|
17,800.00 |
15366 |
35211 |
19845 |
|
17900 |
32562 |
30267 |
-2295 |
|
18,000.00 |
60597 |
20907 |
-39690 |
|
18,100.00 |
32786 |
9134 |
-23652 |
|
18,200.00 |
41471 |
3992 |
-37479 |
The Nifty 50 put call ratio (PCR) closed at 0.75 worse than 0.55 in the last trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.
Following table shows the participant wise action of key players on the index options front.
|
|
Index Put Options |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Nov 03 2021 |
Nov 02 2021 |
Nov 01 2021 |
|
Client |
-1726 |
-0.54% |
-320257 |
-318531 |
-303569 |
|
Pro |
-4197 |
-7.78% |
49755 |
53952 |
84353 |
|
DII |
2000 |
4.88% |
43014 |
41014 |
37014 |
|
FII |
-7439 |
-3.30% |
218322 |
225761 |
208602 |
|
*Change from Previous Day |
|
|
|
|
|
|
|
Index Call Options |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Nov 03 2021 |
Nov 02 2021 |
Nov 01 2021 |
|
Client |
-111758 |
-75.06% |
37139 |
148897 |
8430 |
|
Pro |
101838 |
52.04% |
-93835 |
-195673 |
-81060 |
|
DII |
0 |
0.00% |
401 |
401 |
401 |
|
FII |
9919 |
21.39% |
56295 |
46376 |
72229 |
|
*Change from Previous Day |
|
|
|
|
|
|
|
Net Change in Open Interest |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Nov 03 2021 |
Nov 02 2021 |
Nov 01 2021 |
|
Client |
-110032 |
-23.54% |
357396 |
467428 |
311999 |
|
Pro |
92672 |
37.76% |
-152756 |
-245428 |
-135012 |
|
DII |
0 |
0.00% |
-42613 |
-42613 |
-40613 |
|
FII |
17358 |
9.68% |
-162027 |
-179385 |
-136373 |
|
*Change from Previous Day |
|
|
|
|
|
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