F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
10th December 2022 - 05:00 am
The highest call option open interest for expiry on December 2, stood at 18,000 for Nifty.
Indian equity market gained on monthly expiry day on the back of positive news flow. Rating agency, Moody’s Investors Service in its latest report has projected that the economic growth in India will rebound strongly. It has pegged GDP growth for the nation at 9.3% and 7.9% in FY22 and FY23, respectively. After a drop in the first hour of trade, Nifty 50 continued to move higher.
There was not much activity on the F&O front for the next weekly expiry on December 2. Nevertheless, reading of today’s activity shows 18,000 to act as a resistance. The highest call option open interest (36,164) for Nifty 50 stood at a strike price of 18,000. In terms of the highest addition of open interest in the call options front, it was at 17,500 in the last trading session. A total of 18,237 open interest was added at this strike price. The next highest call option open interest stands at 17,500 where total open interest stood at 35,391.
In terms of put activity, the highest put writing was seen at a strike price of 16,500 (28,266 open interest added on November 25), followed by 17,400 (23,187 open interest added on November 25).
Highest total put open interest (45,583) stood at a strike price of 17,500. This is followed by a strike price of 17,400, which saw a total put option open interest of 45,343 contracts.
Following table shows the difference between call and put options at strike price near to max pain of 17500.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
|||
|
17,200.00 |
1165 |
27156 |
25991 |
||||
|
17,300.00 |
2490 |
36479 |
33989 |
||||
|
17,400.00 |
8599 |
45343 |
36744 |
||||
|
17500 |
35391 |
45583 |
10192 |
||||
|
17,600.00 |
31850 |
12715 |
-19135 |
||||
|
17,700.00 |
27763 |
7620 |
-20143 |
||||
|
17,800.00 |
29930 |
6210 |
-23720 |
||||
|
|
|
|
|
|
|
|
|
The Nifty 50 put call ratio (PCR) closed at 1.01 compared to 0.64 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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