Nifty, BankNifty Outlook or analysis based on option chain (Dec 31 24)
Funds Flow (Rs crore) Last closing
DII :- 2,173.86FII/FPI :- 1,893.16
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, dropped to 0.88 on December 30, from 1.03 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, often referred to as the "fear index," increased by 5.55% to close near the 14 mark at 13.97.Nifty Call Options Data
According to the weekly options data, the 24,500 strike holds the maximum Call open interest (with 96.46 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 (93.38 lakh contracts), and the 23,800 strike (64.73 lakh contracts).Maximum Call writing was observed at the 24,000 strike, which saw an addition of 38.11 lakh contracts, followed by the 24,500 and 24,300 strikes, which added 28.6 lakh and 28.39 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,650 strike, which shed 1.4 lakh contracts, followed by the 23,000 strike, which shed 11,475 contracts.
Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 23,000 strike (with 64.62 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 23,200 strike (61.5 lakh contracts), and the 23,500 strike (46.86 lakh contracts).The maximum Put writing was placed at the 23,200 strike, which saw an addition of 37.29 lakh contracts, followed by the 23,000, and 23,100 strikes, with 23.52 lakh, and 16.89 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 23,800 strike, which shed 18.95 lakh contracts, followed by the 23,500 and 23,900 strikes, which shed 18.85 lakh and 8.23 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance :- 23,841, 23,915, and 24,036Support :- 23,599, 23,525, and 23,404
Bank Nifty Call Options Data
According to the monthly options data, the 52,000 strike holds the maximum Call open interest, with 13.23 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 (11.9 lakh contracts) and the 53,500 strike (8.8 lakh contracts).Maximum Call writing was visible at the 52,000 strike (with the addition of 1.91 lakh contracts), followed by the 52,500 strike (1.6 lakh contracts) and the 51,000 strike (1.42 lakh contracts), while the maximum Call unwinding was seen at the 52,800 strike, which shed 47,835 contracts, followed by the 53,300 and 53,100 strikes, which shed 8,070 and 5,280 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the maximum open interest was seen at the 51,500 strike (with 8.86 lakh contracts), which can act as a key level for the index. This was followed by the 51,000 strike (8.63 lakh contracts) and the 50,000 strike (7.27 lakh contracts).The maximum Put writing was observed at the 51,000 strike (which added 1.28 lakh contracts), followed by the 49,500 strike (82,905 contracts) and the 50,500 strike (80,910 contracts), while the maximum Put unwinding was seen at the 50,000 strike, which shed 63,720 contracts, followed by the 51,400 and 53,000 strikes, which shed 49,380 and 38,970 contracts, respectively.
Key Levels For The Bank Nifty
Resistance :- 51,699, 51,997, and 52,478Support :- 50,735, 50,437, and 49,956
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