F&O Action: Futures and Options market cues for January 27

Shashikant Singh
/ Categories: Trending, Mindshare
F&O Action: Futures and Options market cues for January 27

Max pain at the end of today's trade stands at 17350.

Indian equity market remained volatile in today’s trade with the Nifty 50 moving up by more than 450 points. As indicated by the SGX Nifty, the index opened 147 points below its previous close. Nonetheless, from 11:00 AM it started a steady up move and finally closed 128.85 points up at 17277.85. The recovery was led by banks including both private and public. Bank Nifty was a clear outperformer in today’s trade and gained over 2 per cent. Nifty VIX cooled off by 6.43 per cent and closed at 21.36. 

Activity on the F&O front for weekly expiry on January 27 shows 18000 to act as a strong resistance now. Highest open interest contract of 173191 stood at this strike price. The second-highest call option open interest 145296 for Nifty 50 stood at a strike price of 17500. In terms of the highest addition of open interest in the call options front, it was at 17300 in the last trading session. A total of 12498 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16000 where 32109 open interest was added on January 25, followed by 16800 where (21876) open interest was added. Highest total put open interest (120903) stood at a strike price of 16000. This is followed by a strike price of 17000, which saw a total put option open interest of 109931 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.71 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

Max pain at the end of today's trade stands at 17350.

Strike Price

Open Interest (Call)

18000

173191

17500

145296

17600

116071

17700

101415

17800

96666

Strike Price

Open Interest (Put)

16000

120903

17000

109931

16500

92490

16800

71173

17200

62846

 

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