F&O Cues: Key support and resistance levels for Nifty 50
5paisa Research Team
15th November 2021 - 06:14 pm
Today the Nifty F&O action for November 18 expiry shows resistance has come down to 18,200.
Indian equity market after showing a promising upside on Friday (November 12), failed to maintain its momentum. Nifty 50 after witnessing a gap-up opening, failed to build on that and lost all the gain in today’s trade and saw a flat closing in today’s trade. The advance-decline ratio was in favour of decline. Overall, we see there is a lack of enthusiasm among investors as they are not very clear about the market direction.
Activity in the F&O market for the weekly expiry on November 18, 2021, shows that after today’s trade, resistance has moved from 18,500 to 18,200 now. The highest call option open interest (106646) for Nifty 50 stood at a strike price of 18,200. In terms of the highest addition of open interest in the call options front, it was at 18,200 in the last trading session. A total of 57,012 open interest was added at this strike price. The next highest call option open interest stands at 18,500 where total open interest stood at 105,486.
In terms of put activity, the highest put writing was seen at a strike price of 18200 (27,124 open interest added on November 15), followed by 18,100 (19,771 open interest added on November 15). The highest put open interest unwinding was seen at a strike price of 18,000 (23,640 open interest shed on November 15). This means traders are not sure of holding the 18,000 mark for this expiry.
Highest total put open interest (81156) stood at a strike price of 18,000. This is followed by a strike price of 17,500, which saw a total put option open interest of 74,599 contracts.
Following table shows the difference between call and put options at strike price near to max pain of 18100.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
17,800.00 |
7310 |
54450 |
47140 |
|
17,900.00 |
12002 |
66660 |
54658 |
|
18,000.00 |
33782 |
81156 |
47374 |
|
18100 |
67134 |
49752 |
-17382 |
|
18,200.00 |
106646 |
35937 |
-70709 |
|
18,300.00 |
90639 |
6789 |
-83850 |
|
18,400.00 |
65223 |
2058 |
-63165 |
The Nifty 50 put call ratio (PCR) closed at 0.8 compared to 1.05 in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.
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Tanushree Jaiswal
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