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