Nifty, BankNifty Outlook or analysis based on option chain (Dec 20 24)
Funds Flow (Rs crore) Last closing
DII :- 3,943.24FII/FPI :- -4,224.92
Put-Call Ratio
he Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 0.91 on December 19, from 0.55 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, increased by 0.96 percent to the 14.51 level, which is still in the higher zone, causing discomfort for bulls.Nifty Call Options Data
According to the monthly options data, the 25,000 strike holds the maximum Call open interest (with 1.13 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,500 strike (66.39 lakh contracts), and the 25,500 strike (65.09 lakh contracts).Maximum Call writing was observed at the 25,000 strike, which saw an addition of 34.4 lakh contracts, followed by the 24,000 and 25,500 strikes, which added 33.2 lakh and 20.55 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,900 strike, which shed 13.75 lakh contracts, followed by the 24,700 and 24,800, which shed 8.3 lakh and 7.42 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 24,000 strike (with 82.47 lakh contracts), which can act as a key level for the Nifty. It was followed by the 23,000 strike (82.33 lakh contracts), and the 23,500 strike (66.13 lakh contracts).The maximum Put writing was placed at the 23,000 strike, which saw an addition of 22.53 lakh contracts, followed by the 22,500, and 24,000 strikes, with 14.74 lakh, and 14.59 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 24,500 strike, which shed 9.85 lakh contracts, followed by the 24,300 and 24,600 strikes, which shed 4.64 lakh and 3.59 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance :- 23,994, 24,025, and 24,077Support :- 223,891, 23,859, and 23,808
Bank Nifty Call Options Data
According to the monthly options data, the 54,000 strike holds the maximum Call open interest, with 41.87 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 53,500 strike (28.81 lakh contracts) and the 53,000 strike (25.24 lakh contracts).Maximum Call writing was visible at the 51,500 strike (with the addition of 8.42 lakh contracts), followed by the 52,000 strike (6.64 lakh contracts) and the 51,600 strike (3.9 lakh contracts), while the maximum Call unwinding was seen at the 53,000 strike, which shed 2.14 lakh contracts, followed by the 54,000 and 53,300 strikes, which shed 2.04 lakh and 1.07 lakh contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 50,000 strike (with 16.55 lakh contracts), which can act as a key support level for the index. This was followed by the 51,000 strike (13.36 lakh contracts) and the 51,500 strike (11.58 lakh contracts).The maximum Put writing was observed at the 51,500 strike (which added 4.44 lakh contracts), followed by the 49,500 strike (3.39 lakh contracts) and the 51,300 strike (3.21 lakh contracts), while the maximum Put unwinding was seen at the 52,500 strike, which shed 4.11 lakh contracts, followed by the 52,000 and 50,000 strikes, which shed 3.87 lakh and 2.06 lakh contracts, respectively.
Key Levels For The Bank Nifty
Resistance :- 51,744, 51,868, and 52,069Support :- 51,342, 51,218, and 51,017
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