Nifty, BankNifty Outlook or analysis based on option chain (Dec 09 24)
Funds Flow (Rs crore) Last closing
DII ** 1,659.06FII/FPI * -1,830.31
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 1.03 on December 6, from 1.24 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 VIX closed at 14.14, down 2.67% from 14.53.Nifty Call Options Data
According to the weekly options data, the maximum open interest was seen at the 25,500 strike (with 75.8 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 (71.87 lakh contracts), and the 24,700 strike (54.42 lakh contracts).Maximum Call writing was observed at the 25,000 strike, which saw an addition of 41.57 lakh contracts, followed by the 25,500 and 24,700 strikes, which added 34.42 lakh and 33.49 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,100 strike, which shed 65,125 contracts, followed by the 24,500 and 24,400 strikes, which shed 30,075 and 19,325 contracts, respectively.
Nifty Put Options Data
On the Put side, the 24,000 strike saw the maximum open interest (with 55.93 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,500 strike (49.73 lakh contracts), and the 24,200 strike (46.9 lakh contracts).The maximum Put writing was placed at the 24,200 strike, which saw an addition of 31.4 lakh contracts, followed by the 24,700, and 24,000 strikes, with 25.5 lakh, and 25.2 lakh contracts added, respectively, while there was hardly any Put unwinding seen.
Key Levels For The Nifty 50
Resistance 24,733, 24,764, and 24,814Support 24,633, 24,602, and 24,553
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 55,000 strike, with 18 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 (16.89 lakh contracts) and the 53,000 strike (12.82 lakh contracts).Maximum Call writing was visible at the 55,000 strike (with the addition of 2.58 lakh contracts), followed by the 53,800 strike (1.95 lakh contracts) and the 54,500 strike (1.17 lakh contracts), while the maximum Call unwinding was seen at the 54,000 strike, which shed 64,605 contracts, followed by the 55,200 and 53,000 strikes, which shed 38,265 and 35,625 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 52,000 strike holds the maximum open interest (with 17.64 lakh contracts), which can act as a key support level for the index. This was followed by the 52,500 strike (14.92 lakh contracts) and the 53,000 strike (12.76 lakh contracts).The maximum Put writing was observed at the 53,800 strike (which added 1.86 lakh contracts), followed by the 53,500 strike (1.62 lakh contracts) and the 53,600 strike (93,660 contracts), while the maximum Put unwinding was seen at the 52,600 strike, which shed 32,205 contracts, followed by the 55,000 and 53,100 strikes, which shed 11,535 and 10,380 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 53,783, 53,950, and 54,221Support 53,243, 53,075, and 52,805
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