Market watch: What does the Futures and Options market suggest about trade on June 01?

The Nifty 50 put call ratio (PCR) closed at 1.03 for the day.

Indian equity market snapped three days winning streak. Nifty 50 opened at 16578.45 against the previous close of 16661.40, which means a gap down of 82.95 points. It finally closed with a cut of 76.85 points or 0.46 per cent at 16584.55.  It was the last hour sell-off that led to market closing in red.  In today’s trade the best performing index was NIFTY REALTY it was up by 2.01 per cent. This is followed by NIFTY MEDIA, which was up by 1.54 per cent. The worst performing index in today's trade was NIFTY PSU BANK. It is down by 1.03 per cent. Out of total 12.0 companies forming part of the index, 7.0 companies closed in red. Nifty VIX once again closed above 20 at 20.4775 in today’s trade.  

Activity on the F&O front for weekly expiry on June 2 shows 17000 to act as a strong resistance now. Highest call open interest contract of 205388 stood at this strike price. The second-highest call option open interest 89219 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 17000 in the last trading session. A total of 59257 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 28600 open interest was added today, followed by 16450 strike price where (13712) open interest was added today. Highest total put open interest (126367) stood at a strike price of 16000. This is followed by a strike price of 16500, which saw a total put option open interest of 108106 contracts. 

The Nifty 50 put call ratio (PCR) closed at 1.03 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 June 2 stands at 16500.

Top five call and put open interest with their strike price