Nifty, BankNifty Outlook or analysis based on option chain (Jan 06 25)
Funds Flow (Rs crore) Last closing
DII :- 820.60FII/FPI :- -4,227.25
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, dropped sharply to 0.86 on January 3, from 1.23 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, which measures market volatility, extended its downtrend for another session, falling 1.44% to 13.54. Sustaining levels below 14 could provide comfort for bulls.Nifty Call Options Data
According to the weekly options data, the 25,000 strike holds the maximum Call open interest (with 1.03 crore contracts). This level can act as a key resistance for the Nifty in the short term. It was followed by the 24,500 strike (79.35 lakh contracts) and the 24,200 strike (73.15 lakh contracts).Maximum Call writing was observed at the 24,500 strike, which saw an addition of 49.83 lakh contracts, followed by the 25,000 and 24,400 strikes, which added 49.07 lakh and 44.27 lakh contracts, respectively. The maximum Call unwinding was seen at the 23,700 strike, which shed 64,050 contracts, followed by the 23,400 and 23,200 strikes, which shed 14,550 and 12,900 contracts, respectively.
Nifty Put Options Data
On the Put side, the 23,700 strike holds the maximum Put open interest (with 62.01 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,000 strike (55.43 lakh contracts) and the 23,500 strike (48.62 lakh contracts).The maximum Put writing was placed at the 23,700 strike, which saw an addition of 34.88 lakh contracts, followed by the 23,500 and 23,300 strikes, which added 19.33 lakh and 16.7 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,200 strike, which shed 5.46 lakh contracts, followed by the 23,900 and 24,400 strikes, which shed 42,900 and 10,800 contracts, respectively.
Key Levels For The Nifty 50
Resistance :- 24,143, 24,195, and 24,279Support :- 23,975, 23,923, and 23,839
Bank Nifty Call Options Data
According to the monthly options data, the 52,000 strike holds the maximum Call open interest, with 17.02 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 (16.29 lakh contracts) and the 51,500 strike (10.93 lakh contracts).Maximum Call writing was visible at the 52,000 strike (with the addition of 4.26 lakh contracts), followed by the 51,500 strike (3.23 lakh contracts) and the 53,000 strike (2.98 lakh contracts). There was hardly any Call unwinding seen in the 49,250-53,250 strike band.
Bank Nifty Put Options Data
On the Put side, the maximum Put open interest was seen at the 50,000 strike (with 11.53 lakh contracts), which can act as a key support level for the index. This was followed by the 51,000 strike (11.01 lakh contracts) and the 51,500 strike (10.26 lakh contracts).The maximum Put writing was observed at the 50,000 strike (which added 1.37 lakh contracts), followed by the 49,500 strike (61,710 contracts) and the 51,300 strike (34,065 contracts). The maximum Put unwinding was seen at the 50,800 strike, which shed 39,645 contracts, followed by the 50,200 and 50,700 strikes which shed 38,175 and 30,120 contracts, respectively.
Key Levels For The Bank Nifty
Resistance :- 51,481, 51,662, and 51,955Support :- 50,895, 50,714, and 50,421
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