F&O Cues: Key support and resistance levels for Nifty 50
5paisa Research Team
Last Updated: 11th December 2022 - 02:35 am
Today the Nifty F&O action for November 18 expiry shows resistance has not moved up to 18,500.
Nifty fifty reclaimed the 18,100 mark on the trade of November 12. After falling for three days in a row, the Indian equity market finally saw the strength and closed in green. Nifty 50 gained as much as 1.28% or 229 points in today’s trade and remained one of the top performers in the Asian market. Nonetheless, the broader market under-performed getting reflected in the advance-decline ratio, which was almost one to one.
Activity in the F&O market for the weekly expiry on November 18, 2021, shows that after today’s trade resistance has moved by from 18,000 to 18,500 now. The highest call option open interest (83,240) for Nifty 50 stood at a strike price of 18,500. In terms of the highest addition of open interest in the call options front, it was at 18,500 in the last trading session. A total of 51,631 open interest was added at this strike price. The next highest call option open interest stands at 19,000 where total open interest stood at 58,546.
In terms of put activity, the highest put writing was seen at a strike price of 18000 (93,953 open interest added on November 12), followed by 17,900 (41,639 open interest added on November 12). There was hardly and any put unwinding happened in today’s F&O activity.
Highest total put open interest (109399) stood at a strike price of 18,000. This is followed by a strike price of 17,000, which saw a total put option open interest of 65,082 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) |
|
17,800.00 |
9794 |
58672 |
48878 |
|
17,900.00 |
20651 |
63274 |
42623 |
|
18,000.00 |
57253 |
109399 |
52146 |
|
18100 |
53994 |
31084 |
-22910 |
|
18,200.00 |
50193 |
9013 |
-41180 |
|
18,300.00 |
57356 |
4423 |
-52933 |
|
18,400.00 |
54801 |
1045 |
-53756 |
The Nifty 50 put call ratio (PCR) closed at 1.05 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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