F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
Last Updated: 4th April 2022 - 12:49 pm
Activity on the F&O market for the weekly expiry on November 3, 2021, shows 18,000 will act as strong resistance now.
The Indian equity market remained one of the worst-performing markets globally yesterday. This was led by weak global cues along with monthly F&O expiry. Frontline equity index Nifty 50 saw a fall of 2%, the highest fall since April 2021. In terms of sectoral indices Bank Nifty fell by almost 3%. FIIs continued their selling spree and have sold equity worth Rs 10,000 crore in the last five trading sessions.
Activity on the F&O market for the weekly expiry on November 3, 2021, shows 18,000 will act as strong resistance now. The highest put writing was seen at strike price of 17000 (20,552 contracts added on October 28), followed by 17,500 (17039 contracts added on October 27), while there was put unwinding at strike price 18200 (3324 contracts shed), followed by 18,250 (1026 contracts shed). Highest total put open interest (31010) stood at a strike price of 18,000. Although Nifty is trading below this level, it is likely that in the next few trading sessions market is likely to move towards the 18,000 level. This is followed by a strike price of 17,000, which saw a total put option of 27,767 contracts, while a strike price of 17,500 has 27,363 contracts in open interest.
In terms of overall open interest on the call option side, maximum open interest stood at strike price of 20000. Total call open interest of 67256 contracts stood at a strike price of 20,000. This was followed by a strike price of 18000 where 50374 contracts were added in open interest.
Following table shows the difference in open interest between call and put options at the different strike prices.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
17,600.00 |
948 |
20716 |
19768 |
|
17,700.00 |
1893 |
19973 |
18080 |
|
17,800.00 |
10114 |
25560 |
15446 |
|
17900 |
17593 |
22943 |
5350 |
|
18,000.00 |
60299 |
31010 |
-29289 |
|
18,100.00 |
49523 |
15457 |
-34066 |
|
18,200.00 |
51460 |
15403 |
-36057 |
The Nifty 50 put call ratio (PCR) closed at 0.52. A PCR above 1 is considered bullish, while a PCR below 1 is considered bearish.
Following table shows the participant wise action of key players on the index options front.
|
|
Index Put Options |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Oct 28 2021 |
Oct 27 2021 |
Oct 26 2021 |
|
Client |
32593 |
-9.42% |
-313500 |
-346093 |
-261825 |
|
Pro |
68335 |
1199.91% |
74030 |
5695 |
-52725 |
|
DII |
-28056 |
-43.30% |
36734 |
64790 |
64190 |
|
FII |
-72871 |
-26.44% |
202736 |
275607 |
250360 |
|
*Change from Previous Day |
|
|
|
|
|
|
|
Index Call Options |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Oct 28 2021 |
Oct 27 2021 |
Oct 26 2021 |
|
Client |
-76711 |
-41.09% |
109984 |
186695 |
9682 |
|
Pro |
133762 |
-48.81% |
-140290 |
-274052 |
-109292 |
|
DII |
0 |
0.00% |
401 |
401 |
401 |
|
FII |
-57051 |
-65.61% |
29905 |
86956 |
99210 |
|
*Change from Previous Day |
|
|
|
|
|
|
|
Net Change in Open Interest |
||||
|
Client Type |
Change of OI* |
% Change of OI* |
Oct 28 2021 |
Oct 27 2021 |
Oct 26 2021 |
|
Client |
-109304 |
-20.52% |
423484 |
532788 |
271507 |
|
Pro |
65427 |
-23.39% |
-214320 |
-279747 |
-56567 |
|
DII |
28056 |
-43.57% |
-36333 |
-64389 |
-63789 |
|
FII |
15820 |
-8.39% |
-172831 |
-188651 |
-151150 |
|
*Change from Previous Day |
|
|
|
|
|
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