Nifty, BankNifty Outlook or analysis based on option chain (Dec 03 24)
Funds Flow (Rs crore) Last closing
DII ** 3,588.66FII/FPI * -238.28
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 1.22 on December 2, from 1.08 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 volatility index, climbed after a sharp fall the previous day and remained below the 15 mark, at 14.7, increasing by 1.91 percent from 14.43.Nifty Call Options Data
According to the weekly options data, the maximum open interest was seen at the 25,000 strike (with 1.3 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,800 strike (94.2 lakh contracts), and the 25,500 strike (79.33 lakh contracts).Maximum Call writing was observed at the 24,800 strike, which saw an addition of 43.21 lakh contracts, followed by the 25,000 and 24,600 strikes, which added 34.64 lakh and 28.67 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,000 strike, which shed 5.14 lakh contracts, followed by the 24,150 and 24,200 strikes, which shed 2.83 lakh and 2.35 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the 24,000 strike holds the maximum open interest (with 1.14 crore contracts), which can act as a key support level for the Nifty. It was followed by the 23,500 strike (98.4 lakh contracts), and the 24,100 strike (77.73 lakh contracts).The maximum Put writing was placed at the 24,000 strike, which saw an addition of 45.56 lakh contracts, followed by the 23,600, and 24,100 strikes, with 39.39 lakh, and 34.4 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 25,000 strike, which shed 8,825 contracts, followed by the 24,850 strike which shed 575 contracts.
Key Levels For The Nifty 50
Resistance 24,307, 24,377, and 24,489Support 24,084, 24,014, and 23,903
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 54,000 strike, with 16.59 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 (13.7 lakh contracts) and the 52,500 strike (9.55 lakh contracts).Maximum Call writing was visible at the 54,000 strike (with the addition of 2.73 lakh contracts), followed by the 52,000 strike (94,890 contracts) and the 53,000 strike (83,505 contracts), while the maximum Call unwinding was seen at the 54,300 strike, which shed 32,235 contracts, followed by the 53,800 and 53,700 strikes, which shed 27,600 and 20,595 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 50,000 strike holds the maximum open interest (with 11.97 lakh contracts), which can act as a key support level for the index. This was followed by the 52,000 strike (11.38 lakh contracts) and the 51,000 strike (9.61 lakh contracts).The maximum Put writing was observed at the 50,000 strike (which added 1.63 lakh contracts), followed by the 52,100 strike (1.27 lakh contracts) and the 52,000 strike (72,585 contracts), while the maximum Put unwinding was seen at the 52,700 strike, which shed 16,830 contracts, followed by the 52,600 and 52,800 strikes, which shed 14,955 and 11,100 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 52,192, 52,311, and 52,503Support 51,808, 51,689, and 51,497
Post Comment