F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
13th December 2022 - 04:14 pm
17,500 will act as key support while 18,000 will be strong resistance.
Last week was one of the worst in recent times in terms of performance for the Indian equity market. Nifty 50 posted its worst weekly performance in the last eight months. It lost 2.45% last week. What led to such bad performance was relentless selling by FIIs. After a volatile session on October 29, Nifty fell once again and at the close was down 1.04% or 185.6 points to 17671.6.
Activity on the F&O market for the weekly expiry on November 3, 2021, shows 18,000 will act as strong resistance now. Call open interest for weekly expiry stood at this strike (18,000) the highest. This is followed by 19,000 where total open interest stood at 1,10,703. In terms of the highest addition of open interest on the Friday trading session 83,375 was added at the strike price of 18,000.
In terms of put activity that will give a sense of support, the highest put writing was seen at a strike price of 16000 (22,017 contracts added on October 29), followed by 16,500 (19,522 contracts added on October 29), while there was put unwinding at strike price 18100 (8372 contracts shed), followed by 18,300 (6771 contracts shed).
Highest total put open interest (44,769) stood at a strike price of 17,000. This is followed by a strike price of 17,500, which saw a total put option of 43,786 contracts, while a strike price of 17,800 has 33,430 contracts in open interest.
Following table shows the difference between call and put option at strike price near to max pain of 18000.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
17,400.00 |
837 |
27301 |
26464 |
|
17,500.00 |
5578 |
43786 |
38208 |
|
17,600.00 |
10249 |
30160 |
19911 |
|
17700 |
26954 |
32045 |
5091 |
|
17,800.00 |
53439 |
33430 |
-20009 |
|
17,900.00 |
48025 |
19069 |
-28956 |
|
18,000.00 |
143674 |
31006 |
-112668 |
The Nifty 50 put call ratio (PCR) closed at 0.47. 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 29 2021 |
Oct 28 2021 |
Oct 27 2021 |
|
Client |
-22026 |
7.03% |
-335526 |
-313500 |
-346093 |
|
Pro |
10323 |
13.94% |
84353 |
74030 |
5695 |
|
DII |
280 |
0.76% |
37014 |
36734 |
64790 |
|
FII |
11423 |
5.63% |
214159 |
202736 |
275607 |
|
*Change from Previous Day |
|
|
|
|
|
|
|
Index Call Options |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Oct 29 2021 |
Oct 28 2021 |
Oct 27 2021 |
|
Client |
47906 |
43.56% |
157890 |
109984 |
186695 |
|
Pro |
-47831 |
34.09% |
-188121 |
-140290 |
-274052 |
|
DII |
0 |
0.00% |
401 |
401 |
401 |
|
FII |
-75 |
-0.25% |
29830 |
29905 |
86956 |
|
*Change from Previous Day |
|
|
|
|
|
|
|
Net Change in Open Interest |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Oct 29 2021 |
Oct 28 2021 |
Oct 27 2021 |
|
Client |
69932 |
16.51% |
493416 |
423484 |
532788 |
|
Pro |
-58154 |
27.13% |
-272474 |
-214320 |
-279747 |
|
DII |
-280 |
0.77% |
-36613 |
-36333 |
-64389 |
|
FII |
-11498 |
6.65% |
-184329 |
-172831 |
-188651 |
|
*Change from Previous Day |
|
|
|
|
|
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