Nifty, BankNifty Outlook or analysis based on option chain (Dec 10 24)
Funds Flow (Rs crore) Last closing
DII ** -1,648.07FII/FPI * 724.27
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, dropped to 0.9 on December 9, from 1.03 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 was down by 0.23 percent to 14.11, from 14.14 levels.Nifty Call Options Data
According to the weekly options data, the 25,500 strike holds the maximum open interest (with 1.11 crore 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 (1.06 crore contracts), and the 24,700 strike (97.33 lakh contracts).Maximum Call writing was observed at the 24,700 strike, which saw an addition of 42.91 lakh contracts, followed by the 25,500 and 25,000 strikes, which added 35.99 lakh and 35.08 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,200 strike, which shed 41,925 contracts, followed by the 24,000 and 24,850 strikes, which shed 23,075 and 23,050 contracts, respectively.
Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 24,000 strike (with 85.6 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,500 strike (61.66 lakh contracts), and the 24,600 strike (49.87 lakh contracts).The maximum Put writing was placed at the 24,000 strike, which saw an addition of 29.67 lakh contracts, followed by the 24,600, and 23,700 strikes, with 27.14 lakh, and 22.95 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 25,000 strike which shed 54,075 contracts, followed by the 24,200 and 25,100 strikes, which shed 41,325 and 4,725 contracts, respectively.
Key Levels For The Nifty 50
Resistance 24,682, 24,712, and 24,760Support 24,587, 24,558, and 24,510
Bank Nifty Call Options Data
According to the monthly options data, the 54,000 strike holds the maximum Call open interest, with 20.33 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 (19.45 lakh contracts) and the 53,000 strike (12.56 lakh contracts).Maximum Call writing was visible at the 54,000 strike (with the addition of 3.43 lakh contracts), followed by the 53,500 strike (2.37 lakh contracts) and the 53,600 strike (1.83 lakh contracts), while the maximum Call unwinding was seen at the 52,500 strike, which shed 41,790 contracts, followed by the 52,000 and 53,000 strikes, which shed 27,930 and 26,055 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 52,000 strike (with 18.85 lakh contracts), which can act as a key support level for the index. This was followed by the 52,500 strike (16.03 lakh contracts) and the 53,000 strike (12.42 lakh contracts).The maximum Put writing was observed at the 53,500 strike (which added 2.84 lakh contracts), followed by the 54,300 strike (1.31 lakh contracts) and the 52,000 strike (1.2 lakh contracts), while the maximum Put unwinding was seen at the 53,000 strike, which shed 33,315 contracts, followed by the 53,100 and 53,800 strikes, which shed 31,230 and 19,650 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 53,675, 53,780, and 53,952Support 53,332, 53,226, and 53,054
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