Nifty, BankNifty Outlook or analysis based on option chain (Dec 26 24)
Funds Flow (Rs crore) Last closing
DII :- 2,819.25FII/FPI :- -2,454.21
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 0.94 on December 24, from 0.84 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 Volatility Index (VIX), a measure of market fear, continued its downward journey, falling 2.53 percent to 13.18 on Tuesday, its lowest level since December 13.Nifty Call Options Data
ccording to the monthly options data, the maximum Call open interest was placed at the 24,000 strike (with 1.16 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 (92.12 lakh contracts), and the 23,800 strike (68.72 lakh contracts).Maximum Call writing was observed at the 24,100 strike, which saw an addition of 9.4 lakh contracts, followed by the 24,150 and 23,850 strikes, which added 8.23 lakh and 7.85 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,350 strike, which shed 4.88 lakh contracts, followed by the 24,000 and 23,000 strikes, which shed 4.85 lakh and 2.56 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the 23,500 strike holds the maximum open interest (with 90.44 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 23,000 strike (85.95 lakh contracts), and the 23,700 strike (62.05 lakh contracts).The maximum Put writing was placed at the 22,900 strike, which saw an addition of 15.04 lakh contracts, followed by the 23,800, and 23,700 strikes, with 11.29 lakh, and 11.17 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 23,500 strike, which shed 9.85 lakh contracts, followed by the 23,000 and 24,000 strikes, which shed 8.93 lakh and 8.13 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance :- 23,830, 23,873, and 23,943Support :- 23,690, 23,647, and 23,578
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 53,000 strike, with 8.76 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 52,000 strike (6.79 lakh contracts) and the 51,500 strike (5.72 lakh contracts).Maximum Call writing was visible at the 51,500 strike (with the addition of 2.68 lakh contracts), followed by the 52,000 strike (2.1 lakh contracts) and the 51,200 strike (1.53 lakh contracts), while the maximum Call unwinding was seen at the 53,000 strike, which shed 31.55 lakh contracts, followed by the 52,000 and 51,500 strikes, which shed 30.11 lakh and 29.17 lakh contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 51,500 strike holds the maximum open interest (with 6.6 lakh contracts), which can act as a key level for the index. This was followed by the 50,000 strike (6.38 lakh contracts) and the 51,000 strike (5.78 lakh contracts).The maximum Put writing was observed at the 51,500 strike (which added 3.26 lakh contracts), followed by the 51,000 strike (1.85 lakh contracts) and the 52,500 strike (1.84 lakh contracts), while the maximum Put unwinding was seen at the 51,000 strike, which shed 24.46 lakh contracts, followed by the 50,000 and 51,200 strikes, which shed 21.52 lakh and 14.89 lakh contracts, respectively.
Key Levels For The Bank Nifty
Resistance :- 51,344, 51,402, and 51,495Support :- 51,157, 51,100, and 51,006
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