F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
24th January 2022 - 05:53 pm
Highest put option open interest contract was added at a strike price of 16000 for expiry on January 27.
Nifty 50 posted a negative close for the fifth day in a row. Today Nifty VIX rose almost 21% from the previous close of 18.89 to 22.83. The market today witnessed a gap down opening and has been sliding down like a falling knife to make a day’s low of 16,997.85. Although it started moving up since then but was not able to cover its lost ground. Though all the sectoral and thematic indices closed in red, it was PSU, Banks and Healthcare sectors that fell less as compared to Nifty 50.
Activity on the F&O front for weekly expiry on January 27 shows 18000 is where highest call open interest. Highest open interest contract of 197164 stood at this strike price. The second-highest call option open interest 173398 for Nifty 50 stood at a strike price of 17500, this might act as a strong resistance for this monthly expiry. In terms of the highest addition of open interest in the call options front, it was at 17500 in the last trading session. A total of 143816 open interest was added at this strike price.
In terms of put activity, the highest put writing was seen at a strike price of 16000 (21907) open interest added on January 24, followed by 16500 where (18231) open interest was added. Highest total put open interest (103123) stood at a strike price of 17000. This is followed by a strike price of 16000, which saw a total put option open interest of 95348 contracts.
The Nifty 50 put call ratio (PCR) closed at 0.53 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 17400.
|
Strike Price |
Open Interest (Call) |
|
18000 |
197164 |
|
17500 |
173398 |
|
19000 |
150683 |
|
18500 |
139892 |
|
17600 |
118999 |
|
Strike Price |
Open Interest (Put) |
|
17000 |
103123 |
|
16000 |
95348 |
|
16500 |
93032 |
|
17500 |
61657 |
|
17200 |
58246 |
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Tanushree Jaiswal
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