F&O Cues: Key support and resistance levels for Nifty 50
5paisa Research Team
Last Updated: 10th November 2021 - 05:40 pm
Nifty F&O action for November 11 expiry shows 18,200 will act as a key resistance now.
The Indian equity market, despite closing in red, outperformed most of its Asian peers on November 10. Taking cues from the Asian and US markets, Nifty 50 opened with a gap down and slipped further in the first hour of trade. However, post that it started to gain and was trading in green at one point of time at 1410 hours before closing in red for the second consecutive day. At close, Nifty was down 0.15% or 27 points to 18017.2.
Activity in the F&O market for the weekly expiry on November 11, 2021, shows that 18,200 will continue as a strong resistance for the next trading session. The highest call option open interest (124,931) for Nifty 50 stood at a strike price of 18,200. In terms of the highest addition of open interest in the call options front, it was at 18,000 in the last trading session. A total of 26,790 open interest was added at this strike price. The next highest call option open interest stands at 18,100 where total open interest stood at 104,229.
In terms of put activity, the highest put writing was seen at strike price of 17800 (14,941 open interest added on November 10), followed by 17,750 (12171 open interest added on November 10), while there was put unwinding at strike price 17,300, followed by 17,000.
Highest total put open interest (79,410) stood at a strike price of 17,900. This is followed by a strike price of 17,800, which saw a total put option open interest of 78,874 contracts.
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) |
|
17,700.00 |
6642 |
58397 |
51755 |
|
17,800.00 |
15634 |
78874 |
63240 |
|
17,900.00 |
21505 |
79410 |
57905 |
|
18000 |
83008 |
69845 |
-13163 |
|
18,100.00 |
104229 |
17809 |
-86420 |
|
18,200.00 |
124931 |
5129 |
-119802 |
|
18,300.00 |
92721 |
2415 |
-90306 |
The Nifty 50 put call ratio (PCR) closed at 0.69 worse than 0.73 in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.
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