Nifty, BankNifty Outlook or analysis based on option chain (Dec 04 24)
Funds Flow (Rs crore) Last closing
DII ** -250.99FII/FPI * 3,664.67
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, rose to 1.29 on December 3, from 1.22 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 25,000 strike holds the maximum open interest (with 1.33 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 (1.06 crore contracts), and the 24,500 strike (85 lakh contracts).Maximum Call writing was observed at the 24,900 strike, which saw an addition of 32.65 lakh contracts, followed by the 24,700 and 25,300 strikes, which added 22.2 lakh and 14.75 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,300 strike, which shed 30.82 lakh contracts, followed by the 24,200 and 24,350 strikes, which shed 19.78 lakh and 10.89 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 23,500 strike (with 1.55 crore contracts), which can act as a key support level for the Nifty. It was followed by the 24,000 strike (1.3 crore contracts), and the 23,800 strike (91.89 lakh contracts).The maximum Put writing was placed at the 23,500 strike, which saw an addition of 57.07 lakh contracts, followed by the 24,400, and 23,800 strikes, with 37.31 lakh, and 26.48 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 23,600 strike, which shed 4.19 lakh contracts, followed by the 24,150 and 24,100 strikes which shed 1.45 lakh and 1.19 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance 24,483, 24,531, and 24,608Support 24,329, 24,282, and 24,205
Bank Nifty Call Options Data
According to the monthly options data, the 53,000 strike holds the maximum Call open interest, with 15.37 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 54,000 strike (14.66 lakh contracts) and the 55,000 strike (14.39 lakh contracts).Maximum Call writing was visible at the 52,700 strike (with the addition of 4.32 lakh contracts), followed by the 53,500 strike (2.61 contracts) and the 52,800 strike (2.39 lakh contracts), while the maximum Call unwinding was seen at the 54,000 strike, which shed 1.92 lakh contracts, followed by the 52,500 and 52,000 strikes, which shed 1.62 lakh contracts each.
Bank Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 52,500 strike (with 15.6 lakh contracts), which can act as a key support level for the index. This was followed by the 52,000 strike (14.89 lakh contracts) and the 51,000 strike (11.85 lakh contracts).The maximum Put writing was observed at the 52,500 strike (which added 7.81 lakh contracts), followed by the 52,000 strike (3.51 lakh contracts) and the 53,000 strike (2.52 lakh contracts), while the maximum Put unwinding was seen at the 55,000 strike, which shed 2.66 lakh contracts, followed by the 50,500 and 52,100 strikes, which shed 1.53 lakh and 13,665 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 52,780, 52,913, and 53,129Support 52,349, 52,216, and 52,001
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