Options chain analysis: key support and resistance levels in F&O stocks, do not miss this!

Options chain analysis: key support and resistance levels in F&O stocks, do not miss this!

Prajwal Wakhare
/ Categories: Trending, Mindshare, Options

Most Active Stock Option Chain Analysis

This article delves into the option chains of three prominent Indian stocks: SAIL, ZEEL, and IOC, exploring key levels and open interest (OI) as of January 16, 2024.

DSIJ offers a service 'Pop Options" with recommendations for profitable options based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here

SAIL -  Bullish Bias: The option chain for SAIL exhibits a mild bullish bias, with higher open interest in call options compared to puts across several strike prices.

Key Levels:

Calls: Open interest is concentrated around 123 and 125 strike prices, with significant OI of 123 and 847 contracts, respectively. These levels could act as potential resistance points.

Puts: OI clusters around 115 and 120 strike prices, indicating support levels at these points.

Overall: The option chain suggests that traders anticipate a sideways or slightly upward movement for SAIL in the near term.

ZEEL  -  Neutral Sentiment: The ZEEL option chain displays a neutral sentiment, with roughly balanced OI in both calls and puts across various strike prices.

Key Levels:

Calls: OI peaks at 270 and 280 strike prices, with moderate levels of 1,105 and 2,029 contracts, respectively. These could act as resistance zones.

Puts: OI is concentrated around 230 and 250 strike prices, suggesting potential support levels.

Overall: The ZEEL option chain indicates uncertainty in the market, with no clear directional bias for the immediate future.

IOC  -  Bullish bias: The IOC option chain leans slightly bullish, with higher OI in call options compared to put across several strike prices.

Key Levels:

Calls: OI clusters around 145 and 146 strike prices, potentially acting as resistance points.

Puts: OI peaks at 140 and 135 strike prices, suggesting potential support levels.

Overall: The IOC option chain suggests that traders anticipate a potential upward movement for IOC in the near term.

Disclaimer: The article is for informational purposes only and not investment advice

Previous Article Rs 70,000 crore order book and 600 per cent returns: This multibagger railway wagons company emerges as L1 bidder for order worth Rs 251,05,48,956 from M.P. Madhya Kshetra Vidyut Vitaran Co Ltd!
Next Article Price Volume breakout stocks: These stocks likely to be in focus tomorrow!
Rate this article:
4.8

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR