F&O Cues: Key support & resistance levels for Nifty 50

Highest put option open interest contract was added at a strike price of 14750 for expiry on March 10.

The worsening situation between Russia and Ukraine is taking a toll on the equity markets globally. Nifty 50, today opened with a deep cut and below 16,000 for the first time since August 2021. It opened at 15867.95 against the previous close of 16245.35, which means a gap down of 377 points. The index closed with a cut of 382.2 points or -2.35% at 15863.15 in today’s trade. Except for the metal index, all other sectoral indices closed in red. The worst performer was Realty, which was down by 5.5%. Most of the Asian markets closed in red with a cut of around 2%, however, most of the European markets are trading with a cut of 3% currently.

Activity on the F&O front for weekly expiry on March 10 shows 17000 to act as a strong resistance now. Highest open interest contract of 153767 stood at this strike price. The second-highest call option open interest 118241 for Nifty 50 stood at a strike price of 17500. In terms of the highest addition of open interest in the call options front, it was at 17000 in the last trading session. A total of 55500 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 14750, where 25085 open interest was added today, followed by 15800 strike price where (12343) open interest was added. Highest total put open interest (63155) stood at a strike price of 14750. This is followed by a strike price of 15000, which saw a total put option open interest of 60891 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.36 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 for weekly expiry on March 10 stands at 16000

Top five call and put open interest with their strike price