F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
9th December 2022 - 09:22 am
Highest call option open interest for expiry on December 2, stood at 17,500 for Nifty.
After showing weakness in the last few trading sessions, the Indian equity market on the first day of December closed in green on the back of better news flow of economic growth. India’s GDP for the second quarter grew better than expected. Besides, we also saw the global market gaining as fear of a new variant of Covid-19 subsiding. At the end of the trade Nifty closed with a gain of 1.08% or 183.7 points at 17167.
Activity on the F&O front for weekly expiry on December 2 shows 17,500 to act as a resistance. The highest call option open interest (1,72,064) for Nifty 50 stood at a strike price of 17,500. In terms of the highest addition of open interest in the call options front, it was at 17,400 in the last trading session. A total of 22,313 open interest was added at this strike price. The next highest call option open interest stands at 17,400 where total open interest stood at 104,525.
In terms of put activity, the highest put writing was seen at a strike price of 17,100 (61,464 open interest added on December 1), followed by 16,500 (57,124 open interest added on December 1).
Highest total put open interest (128,906) stood at a strike price of 16,500. This is followed by a strike price of 17,000, which saw a total put option open interest of 122,361 contracts.
Following table shows the difference between call and put options at strike price near to max pain of 17150.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
|||
|
16,900.00 |
6454 |
73558 |
67104 |
||||
|
17,000.00 |
28053 |
122361 |
94308 |
||||
|
17,100.00 |
69127 |
97100 |
27973 |
||||
|
17200 |
99236 |
54919 |
-44317 |
||||
|
17,300.00 |
96420 |
15118 |
-81302 |
||||
|
17,400.00 |
104225 |
10429 |
-93796 |
||||
|
17,500.00 |
172064 |
6974 |
-165090 |
||||
|
|
|
|
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The Nifty 50 put call ratio (PCR) closed at 0.87. 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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