F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
14th December 2022 - 05:36 pm
The level of 18,000 will act as key support while 18,300 will be a strong resistance.
In yesterday’s trade, the frontline equity indices lost some of the momentum gained on 26th October. The Nifty 50 opened with a positive note on October 27, however, it gave up all its gain after sell-off in the market in the second half of the day. By the end of the day, it was down by 0.31%.
Today is also the monthly options expiry day. Looking at yesterday’s trading action in the F&O market, it seems that the market is likely to close between 18,100 and 18,300 in today’s trade. The highest put writing was seen at strike price of 17950 (11,148 contracts added on October 27), followed by 18,050 (6458 contracts added on October 27), while there was put unwinding at strike price 17,000 (10551 contracts shed), followed by 17,400 (10546 contracts shed).
Highest total put open interest of 83,880 contracts stood at strike price 18,000, which will a strong support for the market in today’s trade. This is followed by strike price 18200, which saw a total put option of 79,932 contracts, while strike price 17,800 has 61,339 contracts in open interest.
In terms of overall open interest on the call option side, maximum open interest stood at a strike price of 18,500, which will act as a strong resistance. Total call open interest of 1,43,705 contracts stood at a strike price of 18,500. Aggressive call writing was seen at strike prices of 18,300 and 18,350, which will act as a first resistance level. Total open interest at the strike price of 18,300 stood at 1,39,864.
Following table shows the difference between call and put option at strike price near to max pain of 18200.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
17,900.00 |
9019 |
53653 |
44634 |
|
18,000.00 |
21648 |
83880 |
62232 |
|
18,100.00 |
25256 |
56507 |
31251 |
|
18200 |
102076 |
79932 |
-22144 |
|
18,300.00 |
139864 |
38895 |
-100969 |
|
18,400.00 |
109926 |
16672 |
-93254 |
|
18,500.00 |
143705 |
25801 |
-117904 |
The Nifty 50 put call ratio (PCR) closed at 0.0.68. 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* |
Oct 27 2021 |
Oct 26 2021 |
Oct 25 2021 |
|
Client |
-84268 |
32.18% |
-346093 |
-261825 |
-286667 |
|
Pro |
58420 |
-110.80% |
5695 |
-52725 |
-35095 |
|
DII |
600 |
0.93% |
64790 |
64190 |
64190 |
|
FII |
25247 |
10.08% |
275607 |
250360 |
257572 |
|
*Change from Previous Day |
|
|
|
|
|
|
|
Index Call Options |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Oct 27 2021 |
Oct 26 2021 |
Oct 25 2021 |
|
Client |
177013 |
1828.27% |
186695 |
9682 |
100769 |
|
Pro |
-164760 |
150.75% |
-274052 |
-109292 |
-191180 |
|
DII |
0 |
0.00% |
401 |
401 |
401 |
|
FII |
-12254 |
-12.35% |
86956 |
99210 |
90010 |
|
*Change from Previous Day |
|
|
|
|
|
|
|
Net Change in Open Interest |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Oct 27 2021 |
Oct 26 2021 |
Oct 25 2021 |
|
Client |
261281 |
96.23% |
532788 |
271507 |
387436 |
|
Pro |
-223180 |
394.54% |
-279747 |
-56567 |
-156085 |
|
DII |
-600 |
0.94% |
-64389 |
-63789 |
-63789 |
|
FII |
-37501 |
24.81% |
-188651 |
-151150 |
-167562 |
|
*Change from Previous Day |
|
|
|
|
|
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