Market watch: What does the Futures and Options market suggest about trade on Jun-09?

The Nifty 50 put call ratio (PCR) closed at 0.51 for the day

Indian equity market extended their losing streak to fourth day in row. Nifty 50 opened at 16474.95 against the previous close of 16416.35, which means a gap up of 58.60 points. Nonetheless it soon slipped into red. It recovered in between, however, finally it closed with a cut of 60.1 points or 0.37 per cent at 16356.25.  Rising crude oil prices and increasing interest rate led to such fall. Even global equity market is not supporting the domestic equity market. In today’s trade the best performing index was NIFTY REALTY it was up by 1.89 per cent. This is followed by NIFTY MEDIA, which was  up by  1.49 per cent. The worst performing index in today's trade was NIFTY FMCG. It is down by -1.05 per cent. Out of total 15.0 companies forming part of the index, 12.0 companies closed in red, and 3.0 closed in green. Despite market closing in red, Nifty VIX closed below 19 with a cut of 2.8 per cent.

Activity on the F&O front for weekly expiry on 09-Jun-2022 shows 16800 to act as a strong resistance now. Highest call open interest contract of 190779 stood at this strike price. The second-highest call option open interest 179067 for Nifty 50 stood at a strike price of 16600. In terms of the highest addition of open interest in the call options front, it was at 16400 in the last trading session. A total of 72953 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  34279 open interest added on 08-Jun-2022, followed by 16200 strike price  where (26522) open interest added on 08-Jun-2022. Highest total put open interest (132814) stood at a strike price of 16000. This is followed by a strike price of 16300, which saw a total put option open interest of 81701 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.51 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 09-Jun-2022 stands at 16400

Top five call and put open interest with their strike price