Market watch: What does the F and O market suggest about trade on April 1?

The Nifty 50 put call ratio (PCR) closed at 0.81 for the day.

On the last trading day of the financial year FY22, Nifty 50 closed with a minor loss. It closed with a loss of 33.5 points at 17464.75. Global markets saw a negative sentiment as Chinese manufacturing weakened and talks between Russia and Ukraine did not progress on expected lines. The only solace was prices of crude oil fell on the back of reports that President Joe Biden would release US reserves to cool surging prices. Reliance Industries, HDFC Bank and Infosys dragged the market. Nifty VIX opened at 20.61 and closed at 20.56 with a loss of 0.24 per cent.

Activity on the F&O front for weekly expiry on April 7 shows 17500 to act as a strong resistance now. Highest call open interest contract of 80120 stood at this strike price. The second-highest call option open interest 57974 for Nifty 50 stood at a strike price of 18500. In terms of the highest addition of open interest in the call options front, it was at 18500 in the last trading session. A total of 42882 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 17354 open interest was added today, followed by 17500 strike price where (17271) open interest was added. Highest total put open interest (61324) stood at a strike price of 17500. This is followed by a strike price of 16500, which saw a total put option open interest of 41771 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.81 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 for weekly expiry on April 7 stands at 17500.

Top five call and put open interest with their strike price