Nifty, BankNifty Outlook or analysis based on option chain (Dec 13 24)
Funds Flow (Rs crore) Last closing
DII ** 2,646.65FII/FPI * -3,560.01
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.02 on December 12, from 0.87 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, dropped by 0.58 percent to 13.19, marking the lowest closing level since October 18.Nifty Call Options Data
According to the weekly options data, the maximum Call open interest was seen at the 25,500 strike (with 49.33 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 (48.41 lakh contracts), and the 24,600 strike (37.03 lakh contracts).Maximum Call writing was observed at the 24,500 strike, which saw an addition of 30.68 lakh contracts, followed by the 24,600 and 25,000 strikes, which added 27.31 lakh and 20.7 lakh contracts, respectively, while the maximum Call unwinding was seen at the 25,300 strike, which shed 2.01 lakh contracts.
Nifty Put Options Data
On the Put side, the 24,000 strike holds the maximum open interest (with 30.08 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,600 strike (29.39 lakh contracts), and the 24,500 strike (28.83 lakh contracts).The maximum Put writing was placed at the 24,600 strike, which saw an addition of 16.36 lakh contracts, followed by the 23,900, and 24,500 strikes, with 13.73 lakh, and 12.74 lakh contracts added, respectively, while there was hardly any Put unwinding seen.
Key Levels For The Nifty 50
Resistance 24,640, 24,675, and 24,731Support 24,528, 24,493, and 24,437
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 54,000 strike, with 25.08 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 (20.59 lakh contracts) and the 53,500 strike (19.6 lakh contracts).Maximum Call writing was visible at the 53,500 strike (with the addition of 2.58 lakh contracts), followed by the 53,300 strike (1.88 lakh contracts) and the 54,500 strike (1.81 lakh contracts), while the maximum Call unwinding was seen at the 53,000 strike, which shed 2.68 lakh contracts, followed by the 52,500 and 52,000 strikes, which shed 46,710 and 32,580 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 52,000 strike holds the maximum open interest (with 18.63 lakh contracts), which can act as a key support level for the index. This was followed by the 52,500 strike (17.64 lakh contracts) and the 53,500 strike (16.54 lakh contracts).The maximum Put writing was observed at the 53,200 strike (which added 1.18 lakh contracts), followed by the 53,100 strike (74,235 contracts) and the 53,300 strike (70,410 contracts), while the maximum Put unwinding was seen at the 53,600 strike, which shed 74,565 contracts, followed by the 53,500 and 52,100 strikes, which shed 67,110 and 63,915 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 53,448, 53,534, and 53,672Support 53,171, 53,085, and 52,946
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