Nifty, BankNifty Outlook or analysis based on option chain (Dec 05 24)
Funds Flow (Rs crore) Last closing
DII ** -900.62FII/FPI * 1,797.60
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 1.14 on December 4, from 1.29 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, increased slightly but remained below the 15 mark, rising 0.54 percent to 14.45 from 14.37.Nifty Call Options Data
According to the weekly options data, the maximum open interest remained at the 25,000 strike (with 1.55 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 (1.13 crore contracts), and the 24,500 strike (1.02 crore contracts).Maximum Call writing was observed at the 24,750 strike, which saw an addition of 27.97 lakh contracts, followed by the 24,550 and 24,600 strikes, which added 23.87 lakh and 21.96 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,400 strike, which shed 14.38 lakh contracts, followed by the 24,300 and 25,500 strikes, which shed 10.52 lakh and 11.56 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the 23,500 strike holds the maximum open interest (with 1.42 crore contracts), which can act as a key support level for the Nifty. It was followed by the 24,000 strike (1.28 crore contracts), and the 23,800 strike (1.21 crore contracts).The maximum Put writing was placed at the 23,800 strike, which saw an addition of 29.63 lakh contracts, followed by the 23,900, and 24,500 strikes, with 24.36 lakh, and 22.91 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 23,500 strike, which shed 12.87 lakh contracts, followed by the 24,300 and 24,100 strikes which shed 11.52 lakh and 9.87 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance 24,548, 24,597, and 24,676Support 24,390, 24,341, and 24,262
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 54,000 strike, with 16.32 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 55,000 strike (15.12 lakh contracts) and the 53,000 strike (14.35 lakh contracts).Maximum Call writing was visible at the 53,500 strike (with the addition of 1.67 lakh contracts), followed by the 54,000 strike (1.65 lakh contracts) and the 54,500 strike (1.52 lakh contracts), while the maximum Call unwinding was seen at the 52,500 strike, which shed 1.23 lakh contracts, followed by the 52,700 and 52,800 strikes, which shed 1.15 lakh and 1.05 lakh contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 52,000 strike holds the maximum open interest (with 16.7 lakh contracts), which can act as a key support level for the index. This was followed by the 52,500 strike (16.09 lakh contracts) and the 51,000 strike (14.55 lakh contracts).The maximum Put writing was observed at the 53,000 strike (which added 3.32 lakh contracts), followed by the 53,500 strike (3.11 lakh contracts) and the 51,000 strike (2.69 lakh contracts), while the maximum Put unwinding was seen at the 55,000 strike, which shed 1.83 lakh contracts, followed by the 52,800 and 52,900 strikes, which shed 27,480 and 4,815 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 53,381, 53,547, and 53,815Support 52,845, 52,679, and 52,411
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