Nifty, BankNifty Outlook or analysis based on option chain (Jan 07 25)
Funds Flow (Rs crore) Last closing
DII : 5,749.65FII/FPI : -2,575.06
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 0.72 on January 6, from 0.86 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, rebounded sharply, rising 15.58% to the 15.65 level, signaling caution for 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 1.14 crore contracts). This level can act as a key resistance for the Nifty in the short term. It was followed by the 24,200 strike (1 crore contracts) and the 24,000 strike (90 lakh contracts).Maximum Call writing was observed at the 24,000 strike, which saw an addition of 38.15 lakh contracts, followed by the 24,500 and 24,200 strikes, which added 35.17 lakh and 27.47 lakh contracts, respectively. The maximum Call unwinding was seen at the 24,400 strike, which shed 9.33 lakh contracts, followed by the 24,800 and 24,850 strikes, which shed 5.64 lakh and 3.04 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the 23,000 strike holds the maximum Put open interest (with 85.1 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 23,300 strike (46.84 lakh contracts) and the 23,500 strike (39.45 lakh contracts).The maximum Put writing was placed at the 23,300 strike, which saw an addition of 15.39 lakh contracts, followed by the 22,800 and 22,850 strikes, which added 12.09 lakh and 7.96 lakh contracts, respectively. The maximum Put unwinding was seen at the 23,700 strike, which shed 38.46 lakh contracts, followed by the 24,000 and 23,900 strikes, which shed 28.12 lakh and 19.69 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance :- 23,958, 24,085, and 24,291Support :- 23,547, 23,420, and 23,215
Bank Nifty Call Options Data
According to the monthly options data, the maximum Call open interest was seen at the 52,000 strike, with 21.59 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 51,000 strike (13.4 lakh contracts) and the 51,500 strike (12.68 lakh contracts).Maximum Call writing was visible at the 51,000 strike (with the addition of 5.23 lakh contracts), followed by the 52,000 strike (4.57 lakh contracts) and the 50,500 strike (3.53 lakh contracts). The maximum Call unwinding was seen at the 51,700 strike, which shed 9,450 contracts, followed by the 48,700 and 48,600 strikes, which shed 3,480 and 3,735 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the 49,000 strike holds the maximum Put open interest (with 11.97 lakh contracts), which can act as a key support level for the index. This was followed by the 50,000 strike (11.55 lakh contracts) and the 48,000 strike (11.38 lakh contracts).The maximum Put writing was observed at the 48,000 strike (which added 1.61 lakh contracts), followed by the 49,000 strike (77,670 contracts) and the 50,100 strike (65,520 contracts). The maximum Put unwinding was seen at the 49,500 strike, which shed 1.37 lakh contracts, followed by the 51,500 and 50,800 strikes which shed 89,940 and 51,480 contracts, respectively.
Key Levels For The Bank Nifty
Resistance :- 50,720, 51,021, and 51,508Support :- 49,746, 49,445, and 48,958
Disclosure: The information provided on this portal is for education purposes only. All Post and Level Posting is only for educational and knowledge purpose. We will not be responsible for any of your profit/loss with this website information. Consult your financial advisor before taking any decisions. This website neither advice nor do any endorsement.
Post Comment