Nifty, BankNifty Outlook or analysis based on option chain (Dec 30 24)
Funds Flow (Rs crore) Last closing
DII :- 2,544.64FII/FPI :- -1,323.29
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 1.03 on December 27, from 1.05 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 volatility index, fell sharply by 5.68 percent on Friday to 13.24 after rising 6.51 percent in the previous session, providing comfort to the bulls.Nifty Call Options Data
According to the weekly options data, the maximum Call open interest was seen at the 24,500 strike (with 67.85 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,000 strike (55.26 lakh contracts), and the 24,200 strike (52.41 lakh contracts).Maximum Call writing was observed at the 24,200 strike, which saw an addition of 31.79 lakh contracts, followed by the 24,100 and 24,500 strikes, which added 26.28 lakh and 24.11 lakh contracts, respectively, while the maximum Call unwinding was seen at the 23,800 strike, which shed 2.86 lakh contracts, followed by the 23,750 and 23,500 strikes, which shed 1.35 lakh and 74,550 contracts, respectively.
Nifty Put Options Data
On the Put side, the 23,500 strike holds the maximum open interest (with 65.72 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 23,800 strike (57.65 lakh contracts), and the 23,000 strike (41.09 lakh contracts).The maximum Put writing was placed at the 23,500 strike, which saw an addition of 38.52 lakh contracts, followed by the 23,000, and 23,900 strikes, with 13.66 lakh, and 12.68 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 24,600 strike, which shed 3,150 contracts, followed by the 24,900 and 24,650 strikes, which shed 2,700 and 2,325 contracts, respectively.
Key Levels For The Nifty 50
Resistance :- 23,904, 23,936, and 23,989Support :- 23,798, 23,766, and 23,713
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 52,000 strike, with 11.32 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 53,000 strike (10.58 lakh contracts) and the 51,500 strike (7.81 lakh contracts).Maximum Call writing was visible at the 53,500 strike (with the addition of 1.04 lakh contracts), followed by the 52,000 strike (73,095 contracts) and the 53,300 strike (27,660 contracts), while the maximum Call unwinding was seen at the 52,500 strike, which shed 1.01 lakh contracts, followed by the 51,200 and 51,100 strikes, which shed 87,945 and 39,840 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 51,500 strike holds the maximum open interest (with 8.86 lakh contracts), which can act as a key level for the index. This was followed by the 50,000 strike (7.91 lakh contracts) and the 51,000 strike (7.34 lakh contracts).The maximum Put writing was observed at the 50,000 strike (which added 80,970 contracts), followed by the 51,500 strike (73,680 contracts) and the 52,000 strike (65,730 contracts), while the maximum Put unwinding was seen at the 51,200 strike, which shed 45,705 contracts, followed by the 51,100 and 51,000 strikes, which shed 36,570 and 17,130 contracts, respectively.
Key Levels For The Bank Nifty
Resistance :- 51,542, 51,633, and 51,782Support :- 51,245, 51,153, and 51,005
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