Nifty, BankNifty Outlook or analysis based on option chain (Dec 12 24)
Funds Flow (Rs crore) Last closing
DII ** 2,007.85FII/FPI * -1,012.24
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, rose to 0.87 on December 11, from 0.86 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 index, declined by 3.7 percent to 13.27, down from 13.78.Nifty Call Options Data
According to the weekly options data, the 25,000 strike holds the maximum open interest (with 1.42 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,700 strike (1.37 crore contracts), and the 24,600 & 24,800 strikes (1 crore contracts each).Maximum Call writing was observed at the 24,650 strike, which saw an addition of 29.93 lakh contracts, followed by the 24,600 and 24,700 strikes, which added 26.82 lakh and 25.22 lakh contracts, respectively, while the maximum Call unwinding was seen at the 25,500 strike, which shed 18.13 lakh contracts, followed by the 25,300 and 25,350 strikes, which shed 14.01 lakh and 13.76 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 24,000 strike (with 1.11 crore contracts), which can act as a key support level for the Nifty. It was followed by the 24,500 strike (1.01 crore contracts), and the 24,600 strike (93.25 lakh contracts).The maximum Put writing was placed at the 24,500 strike, which saw an addition of 39.64 lakh contracts, followed by the 24,600, and 24,650 strikes, with 38.08 lakh, and 18.73 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 24,300 strike which shed 24.01 lakh contracts, followed by the 24,750 and 24,800 strikes, which shed 3.62 lakh and 2.73 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance 24,680, 24,706, and 24,747Support 24,598, 24,572, and 24,531
Bank Nifty Call Options Data
According to the monthly options data, the 54,000 strike holds the maximum Call open interest, with 24.42 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 (19.38 lakh contracts) and the 53,500 strike (17.02 lakh contracts).Maximum Call writing was visible at the 53,500 strike (with the addition of 4.79 lakh contracts), followed by the 54,500 strike (3.81 lakh contracts) and the 54,000 strike (3.3 lakh contracts), while the maximum Call unwinding was seen at the 52,000 strike, which shed 51,075 contracts, followed by the 53,000 and 55,250 strikes, which shed 16,845 and 9,060 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the maximum open interest was placed at the 52,000 strike (with 19.08 lakh contracts), which can act as a key support level for the index. This was followed by the 53,500 strike (17.21 lakh contracts) and the 52,500 strike (17.5 lakh contracts).The maximum Put writing was observed at the 53,500 strike (which added 3.79 lakh contracts), followed by the 54,300 strike (1.07 lakh contracts) and the 52,500 strike (1.02 lakh contracts), while the maximum Put unwinding was seen at the 52,000 strike, which shed 1.05 lakh contracts, followed by the 53,100 and 54,000 strikes, which shed 22,620 and 21,630 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 53,579, 53,661, and 53,793Support 53,315, 53,233, and 53,101
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