Market watch: What does the F&O market suggest about trade on March 3?

The Nifty 50 put call ratio (PCR) closed at 0.57 for the day.

The Indian equity market tracking the global equity market closed in red once again. Continued war in Ukraine and rising fuel prices is impacting the sentiment of equity traders. Various sanctions imposed on Russia threaten to disrupt the supply of crude and various other commodities reflected in better performance of commodities companies. Nifty opened 200 points down and plunged more than 300 points during the day but recovered from its low levels in the last one hour of trade. Nifty VIX opened at 28.57 and closed at 29.23 with a gain of 2.31 per cent.

Activity on the F&O front for weekly expiry on March 3 shows 17500 to act as a strong resistance now. Highest open interest contract of 244451 stood at this strike price. The second-highest call option open interest 155367 for Nifty 50 stood at a strike price of 17000. In terms of the highest addition of open interest in the call options front, it was at 17500 in the last trading session. A total of 94912 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 15500, where 16436 open interest was added today, followed by 16600 strike price where 11728 open interest was added. Highest total put open interest (89579) stood at a strike price of 15500. This is followed by a strike price of 16000, which saw a total put option open interest of 86249 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.57 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 March 3 stands at 16600.

Top five call and put open interest with their strike price