Nifty, BankNifty Outlook or analysis based on option chain (Jan 08 25)
Funds Flow (Rs crore) Last closing
DII : 1,615.28FII/FPI : -1,491.46
Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, rose to 0.82 on January 7, from 0.72 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 fear gauge that measures market volatility, declined by 6.33% to 14.66, after a 15.58% surge in the previous session. The index is still above the 14 level, signaling caution for bulls.Nifty Call Options Data
According to the weekly options data, the 24,500 strike holds the maximum Call open interest (with 1.28 crore contracts). This level can act as a key resistance for the Nifty in the short term. It was followed by the 24,000 strike (1.2 crore contracts) and the 24,200 strike (1.1 crore contracts).Maximum Call writing was observed at the 24,000 strike, which saw an addition of 30.07 lakh contracts, followed by the 24,400 and 23,800 strikes, which added 20.02 lakh and 19.6 lakh contracts, respectively. The maximum Call unwinding was seen at the 23,600 strike, which shed 7.05 lakh contracts, followed by the 24,800 and 24,550 strikes, which shed 6.97 lakh and 6.71 lakh contracts, respectively.
Nifty Put Options Data
On the Put side, the maximum Put open interest was seen at the 23,000 strike (with 1.1 crore contracts), which can act as a key support level for the Nifty. It was followed by the 23,200 strike (92.2 lakh contracts) and the 23,500 strike (55.79 lakh contracts).The maximum Put writing was placed at the 23,200 strike, which saw an addition of 62.91 lakh contracts, followed by the 23,000 and 23,700 strikes, which added 25.83 lakh and 19.64 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,000 strike, which shed 3.15 lakh contracts, followed by the 24,150 and 24,100 strikes, which shed 2.48 lakh and 2.12 lakh contracts, respectively.
Key Levels For The Nifty 50
Resistance :- 23,774, 23,811, and 23,871Support :- 23,654, 23,616, and 23,556
Bank Nifty Call Options Data
According to the monthly options data, the 52,000 strike holds the maximum Call open interest, with 20.49 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 (13.01 lakh contracts) and the 51,500 strike (11.94 lakh contracts).Maximum Call writing was visible at the 50,400 strike (with the addition of 34,170 contracts), followed by the 50,300 strike (31,830 contracts) and the 52,300 strike (25,785 contracts). The maximum Call unwinding was seen at the 52,000 strike, which shed 1.1 lakh contracts, followed by the 50,000 and 52,500 strikes, which shed 91,635 and 81,930 contracts, respectively.
Bank Nifty Put Options Data
On the Put side, the maximum Put open interest was seen at the 50,000 strike (with 11.79 lakh contracts), which can act as a key support level for the index. This was followed by the 49,000 strike (11.25 lakh contracts) and the 51,000 strike (10.58 lakh contracts).The maximum Put writing was observed at the 50,300 strike (which added 90,045 contracts), followed by the 49,500 strike (32,880 contracts) and the 50,000 strike (23,850 contracts). The maximum Put unwinding was seen at the 48,500 strike, which shed 1.28 lakh contracts, followed by the 50,500 and 49,000 strikes which shed 1.13 lakh and 72,330 contracts, respectively.
Key Levels For The Bank Nifty
Resistance :- 50,389, 50,502, and 50,685Support :- 50,024, 49,911, and 49,728
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