Nifty, BankNifty Outlook or analysis based on option chain (Dec 16 24)
Funds Flow (Rs crore) Last closing
DII ** -732.20FII/FPI * 2,335.32
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 1.12 on December 13, from 1.02 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, was down by 1.04 percent at 13.05 on Friday, while for the week, it declined 7.69 percent.Nifty Call Options Data
According to the weekly options data, the 25,000 strike holds the maximum Call open interest (with 67.91 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 25,500 strike (60.54 lakh contracts), and the 25,100 strike (51.47 lakh contracts).Maximum Call writing was observed at the 25,100 strike, which saw an addition of 26.76 lakh contracts, followed by the 24,800 and 25,000 strikes, which added 19.88 lakh and 19.5 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,600 strike, which shed 12.81 lakh contracts, followed by the 24,900 and 24,550 strikes, which shed 3.91 lakh and 66,275 contracts, respectively.
Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 24,500 strike (with 62.06 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,000 strike (61.38 lakh contracts), and the 24,400 strike (46.38 lakh contracts).The maximum Put writing was placed at the 24,500 strike, which saw an addition of 33.22 lakh contracts, followed by the 24,000, and 24,400 strikes, with 31.3 lakh, and 30.82 lakh contracts added, respectively, while there was hardly any Put unwinding seen.
Key Levels For The Nifty 50
Resistance 24,814, 24,958, and 25,192Support 24,347, 24,203, and 23,969
Bank Nifty Call Options Data
According to the monthly options data, the 54,000 strike holds the maximum Call open interest, with 23.89 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 (18.79 lakh contracts) and the 53,500 strike (16.81 lakh contracts).Maximum Call writing was visible at the 53,000 strike (with the addition of 2.64 lakh contracts), followed by the 52,600 strike (1.63 lakh contracts) and the 52,700 strike (1.19 lakh contracts), while the maximum Call unwinding was seen at the 54,500 strike, which shed 2.9 lakh contracts, followed by the 53,500 and 53,600 strikes, which shed 2.78 lakh and 2.07 lakh contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 53,000 (with 19 lakh contracts), which can act as a key support level for the index. This was followed by the 52,000 strike (17.61 lakh contracts) and the 52,500 strike (16.34 lakh contracts).The maximum Put writing was observed at the 53,000 strike (which added 4.92 lakh contracts), followed by the 53,100 strike (1.01 lakh contracts) and the 52,700 strike (66,915 contracts), while the maximum Put unwinding was seen at the 53,500 strike, which shed 3.01 lakh contracts, followed by the 52,500 and 52,000 strikes, which shed 1.3 lakh and 1.02 lakh contracts, respectively.
Key Levels For The Bank Nifty
Resistance 53,698, 54,026, and 54,557Support 52,637, 52,309, and 51,742
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