F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
7th January 2022 - 05:08 pm
Highest put option open interest contract was added at a strike price of 17500 for expiry on January 13.
The equity market recouped part of the loss it suffered yesterday. Thanks to the last hour surge in the market, Nifty 50 ended in the green. Though the market opened in green and touched an intraday high of 17905, it soon went into profit booking and slipped to almost 17700 level. Finally Nifty closed with a gain of 0.38% or 66.8 points at 17812.7. Investors will be now focusing on inflation data for the eurozone and US jobs data due later in the day for clues on the pace of policy tightening.
Activity on the F&O front for weekly expiry on January 13 shows 18000 to act as a strong resistance now. Highest open interest contract of 91701 stood at this strike price. The second-highest call option open interest 70387 for Nifty 50 stood at a strike price of 18500. In terms of the highest addition of open interest in the call options front, it was at 18000 in the last trading session. A total of 86495 open interest was added at this strike price.
In terms of put activity, the highest put writing was seen at a strike price of 17500 (82415 open interest added on 07-Jan-2022), followed by 16800 (70264 open interest added on 07-Jan-2022). Highest total put open interest (83015) stood at a strike price of 17500. This is followed by a strike price of 16800, which saw a total put option open interest of 73255 contracts.
The Nifty 50 put call ratio (PCR) closed at 0.99 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.
Max pain at the end of today's trade stands at 17800.
|
Strike Price |
Open Interest (Call) |
|
18000 |
91701 |
|
18500 |
70387 |
|
19000 |
68234 |
|
18400 |
64295 |
|
17900 |
62788 |
|
Strike Price |
Open Interest (Put) |
|
17500 |
83015 |
|
16800 |
73255 |
|
17600 |
60480 |
|
17800 |
58336 |
|
17000 |
54360 |
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Tanushree Jaiswal
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