Nifty, BankNifty Outlook or analysis based on option chain (Jan 01 25)
Funds Flow (Rs crore) Last closing
DII :- 4,546.73FII/FPI :- -4,645.22
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, rose to 0.99 on December 31, from 0.88 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, a measure of market volatility, climbed above 14, closing 3.4 percent higher at 14.45. This signals caution for bulls.Nifty Call Options Data
According to the weekly options data, the maximum Call open interest was seen at the 24,500 strike (with 1.39 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,300 strike (97.9 lakh contracts), and the 24,000 strike (96.15 lakh contracts).Maximum Call writing was observed at the 24,500 strike, which saw an addition of 43.07 lakh contracts, followed by the 24,300 and 23,700 strikes, which added 36.09 lakh and 24.09 lakh contracts, respectively, while the maximum Call unwinding was seen at the 24,450 strike, which shed 4.69 lakh contracts, followed by the 24,400 and 24,450 strikes, which shed 3.7 lakh and 2.76 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the 23,000 strike holds the maximum open interest (with 79.01 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 23,500 strike (62.9 lakh contracts), and the 23,200 strike (50.18 lakh contracts).The maximum Put writing was placed at the 23,600 strike, which saw an addition of 19.27 lakh contracts, followed by the 22,800, and 23,500 strikes, with 18.05 lakh, and 16.03 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 23,200 strike, which shed 11.31 lakh contracts, followed by the 23,800 and 24,000 strikes, which shed 9.42 lakh and 3.95 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance :- 23,666, 23,740, and 23,828Support :- 23,511, 23,457, and 23,369
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 52,000 strike, with 13.82 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 (13.55 lakh contracts) and the 51,500 strike (8.33 lakh contracts).Maximum Call writing was visible at the 51,000 strike (with the addition of 2.52 lakh contracts), followed by the 53,000 strike (1.64 lakh contracts) and the 50,800 strike (84,360 contracts), while the maximum Call unwinding was seen at the 51,800 strike, which shed 19,455 contracts, followed by the 53,200 and 51,600 strikes, which shed 17,535 and 14,130 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 51,000 strike holds the maximum open interest (with 10.89 lakh contracts), which can act as a key level for the index. This was followed by the 51,500 strike (8.71 lakh contracts) and the 50,000 strike (8.13 lakh contracts).The maximum Put writing was observed at the 51,000 strike (which added 2.26 lakh contracts), followed by the 50,800 strike (1.14 lakh contracts) and the 50,000 strike (85,605 contracts), while the maximum Put unwinding was seen at the 52,500 strike, which shed 30,450 contracts, followed by the 51,500 and 51,400 strikes, which shed 15,045 and 14,985 contracts, respectively.
Key Levels For The Bank Nifty
Resistance :- 50,892, 51,016, and 51,148Support :- 50,670, 50,588, and 50,456
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