Market watch: What does the Futures and Options market suggest about trade on April 12?

The Nifty 50 put call ratio (PCR) closed at 0.61 for the day.

The first trading day of the truncated week started on a weak note. Nifty opened gap down, tried to recover in between, however, fell to close near day’s low. At close, Nifty was down 0.62 per cent or 109.4 points at 17674.9. Sector that led the market down was IT due to soaring yields. Midcap companies continue with their outperformance over their Large-Cap counter even in today’s trade. Globally equity markets are trading in red. Nifty VIX opened at 17.69 and closed at 18.27 with a gain of 3.29 per cent. 

Activity on the F&O front for weekly expiry on April 13 shows 18000 to act as a strong resistance now. Highest call open interest contract of 168074 stood at this strike price. The second-highest call option open interest 137592 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 18350 in the last trading session. A total of 71561 open interest was added at this strike price. 

In terms of put activity, the highest put writing was seen at a strike price of 17100, where 47535 open interest was added today, followed by 17550 strike price where (29305) open interest added on 11-Apr-2022. Highest total put open interest (95562) stood at a strike price of 17000. This is followed by a strike price of 17700, which saw a total put option open interest of 88374 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.61 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 13 stands at 17700. 

Top five call and put open interest with their strike price