Nifty, BankNifty Outlook or analysis based on option chain (Dec 02 24)
Funds Flow (Rs crore) Last closing
DII ** 5,723.34FII/FPI * -4,383.55
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.08 on November 29, from 0.95 level in the previous session.The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.
India VIX
The India VIX, the fear indicator, declined sharply to 14.43, down 5.13 percent from 15.21, giving some comfort to bulls. If it falls further and settles around the 12-13 range, the bulls may gain a more comfortable position.Nifty Call Options Data
According to the weekly options data, the 25,000 strike holds the maximum open interest (with 95.68 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,500 strike (73.47 lakh contracts), and the 25,500 strike (63.46 lakh contracts).Maximum Call writing was observed at the 25,000 strike, which saw an addition of 32.03 lakh contracts, followed by the 25,500 and 24,700 strikes, which added 20.65 lakh and 17.31 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,000 strike, which shed 4.96 lakh contracts, followed by the 23,900 and 23,950 strikes, which shed 3 lakh and 2.33 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 23,500 strike (with 70.59 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,000 strike (69.31 lakh contracts), and the 23,800 strike (55.83 lakh contracts).The maximum Put writing was placed at the 24,000 strike, which saw an addition of 28.48 lakh contracts, followed by the 23,800, and 24,100 strikes, with 27.62 lakh, and 21.7 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 24,250 strike, which shed 27,375 contracts, followed by the 25,000 and 25,200 strikes which shed 15,275 and 2,425 contracts, respectively.
Key Levels For The Nifty 50
Resistance 24,182, 24,244, and 24,343Support 23,982, 23,921, and 23,821
Bank Nifty Call Options Data
According to the monthly options data, the 54,000 strike holds the maximum Call open interest, with 13.85 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 53,000 strike (12.87 lakh contracts) and the 52,500 strike (9.04 lakh contracts).Maximum Call writing was visible at the 52,000 strike (with the addition of 99,345 contracts), followed by the 52,100 strike (69,810 contracts) and the 53,300 strike (66,900 contracts), while the maximum Call unwinding was seen at the 54,100 strike, which shed 28,035 contracts, followed by the 52,500 and 50,000 strikes, which shed 19,920 and 13,980 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 52,000 strike (with 10.66 lakh contracts), which can act as a key support level for the index. This was followed by the 50,000 strike (10.34 lakh contracts) and the 51,000 strike (9.07 lakh contracts).The maximum Put writing was observed at the 51,800 strike (which added 1.41 lakh contracts), followed by the 52,000 strike (1.3 lakh contracts) and the 51,000 strike (1.16 lakh contracts), while there was hardly any Put unwinding seen.
Key Levels For The Bank Nifty
Resistance 52,152, 52,250, and 52,407Support 51,838, 51,741, and 51,584
Post Comment