F&O Cues: Key support & resistance levels for Nifty 50
5paisa Research Team
Last Updated: 13th December 2022 - 05:28 pm
Today the Nifty F&O action for November 25 expiry shows strong resistance at 18,000.
Today Indian equity market hit a hattrick in terms of closing in the red. The frontline equity indices traded in the green for the first 30 minutes, however, soon it lost ground and traded in red for the entire day. Selling was intensified in last half an hour. Doctor Copper is currently trading at a five-month low, which is casting doubt on global economic growth going ahead and in turn, is weighing on the equity market.
Activity in the F&O market for the weekly expiry on November 25, 2021, shows that resistance has come down to 18,000. The highest call option open interest (115637) for Nifty 50 stood at a strike price of 18,000. 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 71,758 open interest was added at this strike price. The next highest call option open interest stands at 18,500 where total open interest stood at 81,959.
In terms of put activity, the highest put writing was seen at a strike price of 17,300 (23,132 open interest added on November 18), followed by 17,000 (20,049 open interest added on November 18). The highest put open interest unwinding was seen at a strike price of 18,000 (5911 open interest shed on November 18).
Highest total put open interest (61,284) stood at a strike price of 17,500. This is followed by a strike price of 17,400, which saw a total put option open interest of 57,890 contracts.
Following table shows the difference between call and put options at strike price near to max pain of 17800.
|
Strike Price |
Open Interest (Call option) |
Open Interest (Put option) |
Diff(Put – Call) |
|
17,500.00 |
11768 |
61284 |
49516 |
|
17,600.00 |
4523 |
36933 |
32410 |
|
17,700.00 |
19205 |
40078 |
20873 |
|
17800 |
52376 |
49392 |
-2984 |
|
17,900.00 |
70189 |
25520 |
-44669 |
|
18,000.00 |
115637 |
34048 |
-81589 |
|
18,100.00 |
59462 |
12299 |
-47163 |
The Nifty 50 put call ratio (PCR) closed at 0.68 compared to 0.56 in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.
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