Market watch: What does the Futures and Options market suggest about trade on April 21?

The Nifty 50 put call ratio (PCR) closed at 0.59 for the day.

After five days of consecutive fall, the Indian equity market finally closed in green in today’s trade. BSE Sensex soared 574 points while Nifty 50 mange to close above 17100. Nifty 50 opened at 17045.25 against the previous close of 16958.65, a gap up of 87 points. It closed with a gain of 177.9 points or 1.05 per cent at 17136.55. Such closing was due to a positive handover from US equity market as some companies posted better than expected numbers. Reliance Industries, TCS and Infosys led to the bounce back in the index. The volatility index too cooled off and the Nifty VIX opened at 19.775 and closed at 18.67 with a loss of 5.57 per cent.

Activity on the F&O front for weekly expiry tomorrow shows 17500 to act as a strong resistance now. Highest call open interest contract of 158900 stood at this strike price. The second-highest call option open interest 149404 for Nifty 50 stood at a strike price of 17200. In terms of the highest addition of open interest in the call options front, it was at 17600 in the last trading session. A total of 31981 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17000, where 68650 open interest was added today, followed by 17100 strike price where (33907) open interest was added. Highest total put open interest (110151) stood at a strike price of 17000. This is followed by a strike price of 16500, which saw a total put option open interest of 105693 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.59 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 tomorrow stands at 17150.

Top five call and put open interest with their strike price