Nifty, BankNifty Outlook or analysis based on option chain (Dec 17 24)
Funds Flow (Rs crore) Last closing
DII ** -234.25FII/FPI * -278.70
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, dropped to 0.90 on December 16, from 1.12 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, rose by 7.41 percent to the 14.02 level.Nifty Call Options Data
According to the weekly options data, the maximum Call open interest was seen at the 25,000 strike (with 95.23 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 (87.74 lakh contracts), and the 25,400 strike (77.33 lakh contracts).Maximum Call writing was observed at the 24,700 strike, which saw an addition of 33.47 lakh contracts, followed by the 25,400 and 25,200 strikes, which added 28.17 lakh and 27.94 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,400 strike, which shed 1.06 lakh contracts, followed by the 24,200 and 24,000 strikes, which shed 86,075 and 77,650 contracts, respectively.
Nifty Put Options Data
On the Put side, the 24,000 strike hold the maximum open interest (with 83.05 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,500 strike (62.21 lakh contracts), and the 23,900 strike (53.14 lakh contracts).The maximum Put writing was placed at the 24,000 strike, which saw an addition of 21.66 lakh contracts, followed by the 24,200, and 23,800 strikes, with 18.09 lakh, and 13.04 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 24,400 strike, which shed 9.25 lakh contracts, followed by the 24,800 and 24,750 strikes, which shed 7.52 lakh and 4.24 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance 24,752, 24,795, and 24,863Support 24,615, 24,573, and 24,504
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 54,000 strike, with 26.24 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 (19.66 lakh contracts) and the 53,500 strike (17.67 lakh contracts).Maximum Call writing was visible at the 54,000 strike (with the addition of 2.34 lakh contracts), followed by the 54,500 strike (1.92 lakh contracts) and the 53,700 strike (1.74 lakh contracts), while the maximum Call unwinding was seen at the 53,000 strike, which shed 1.03 lakh contracts, followed by the 52,900 and 52,500 strikes, which shed 23,115 and 22,425 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 52,000 strike holds the maximum open interest (with 18.8 lakh contracts), which can act as a key support level for the index. This was followed by the 52,500 strike (17.62 lakh contracts) and the 53,000 strike (16.47 lakh contracts).The maximum Put writing was observed at the 53,500 strike (which added 1.39 lakh contracts), followed by the 52,500 strike (1.28 lakh contracts) and the 52,000 strike (1.19 lakh contracts), while the maximum Put unwinding was seen at the 53,000 strike, which shed 2.53 lakh contracts, followed by the 53,100 and 52,300 strikes, which shed 50,895 and 30,045 contracts, respectively.
Key Levels For The Bank Nifty
Resistance 53,706, 53,801, and 53,956Support 53,397, 53,302, and 53,148
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