Nifty, BankNifty Outlook or analysis based on option chain (Dec 06 24)
Funds Flow (Rs crore) Last closing
DII ** -2,303.64FII/FPI * 8,539.91
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 1.24 on December 5, from 1.14 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, rose by 0.54 percent to 14.53, up from 14.45.Nifty Call Options Data
According to the weekly options data, the 25,500 strike holds the maximum open interest (with 41.38 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 25,000 strike (30.29 lakh contracts), and the 25,200 strike (28.83 lakh contracts).Maximum Call writing was observed at the 25,800 strike, which saw an addition of 17.89 lakh contracts, followed by the 24,700 and 25,500 strikes, which added 12.11 lakh and 11.13 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,500 strike, which shed 2.89 lakh contracts, followed by the 24,400 and 24,450 strikes, which shed 2.1 lakh and 1.36 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 24,500 strike (with 40.31 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,000 strike (30.7 lakh contracts), and the 24,700 strike (18.17 lakh contracts).The maximum Put writing was placed at the 24,700 strike, which saw an addition of 16.29 lakh contracts, followed by the 24,500, and 24,000 strikes, with 16.13 lakh, and 12.53 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 23,700 strike, which shed 6.24 lakh contracts.
Key Levels For The Nifty 50
Resistance 24,835, 24,968, and 25,183Support 24,406, 24,273, and 24,058
Bank Nifty Call Options Data
According to the monthly options data, the 54,000 strike holds the maximum Call open interest, with 17.54 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 (15.42 lakh contracts) and the 53,000 strike (13.18 lakh contracts).Maximum Call writing was visible at the 53,600 strike (with the addition of 1.64 lakh contracts), followed by the 54,000 strike (1.21 lakh contracts) and the 53,900 strike (1.09 lakh contracts), while the maximum Call unwinding was seen at the 53,500 strike, which shed 2.77 lakh contracts, followed by the 53,200 and 53,300 strikes, which shed 1.4 lakh and 1.29 lakh contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 52,000 strike (with 17.67 lakh contracts), which can act as a key support level for the index. This was followed by the 52,500 strike (14.97 lakh contracts) and the 53,000 strike (12.13 lakh contracts).The maximum Put writing was observed at the 53,500 strike (which added 2.4 lakh contracts), followed by the 54,000 strike (2.25 lakh contracts) and the 53,700 strike (1.48 lakh contracts), while the maximum Put unwinding was seen at the 51,800 strike, which shed 1.14 lakh contracts, followed by the 52,500 and 55,000 strikes, which shed 1.12 lakh and 69,135 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 53,844, 54,089, and 54,485Support 53,051, 52,806, and 52,410
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