Market watch: What does the Futures and Options market suggest about trade on June 06?

The Nifty 50 put call ratio (PCR) closed at 0.75 for the day.

Indian equity market closed in red in today’s trade despite getting positive cues from US market and opening in green. Nifty 50 opened at 16761.65 against the previous close of 16628.00, which means a gap up of 133.65 points.  By the end of the trading, it closed below 16600 with a cut of 43.7 points or 0.26 per cent at 16584.3. 
 

In today’s trade, the best performing index was NIFTY IT, it was up by 0.37 per cent. This is followed by NIFTY OIL & GAS, which was up by 0.17 per cent. The worst performing index in today's trade was NIFTY AUTO. It is down by 1.82 per cent. Out of the total 15.0 companies forming part of the index, 14.0 companies closed in red, and 1.0 closed in green. Nifty VIX once again closed below 20. It opened at 20.32 and closed at 19.975 with a drop of 1.69 per cent. 

Activity on the F&O front for weekly expiry on June 9 shows 17500 to act as a strong resistance now. Highest call open interest contract of 101674 stood at this strike price. The second-highest call option open interest 95061 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 16800 in the last trading session. A total of 56842 open interest was added at this strike price. 
 

In terms of put activity, the highest put writing was seen at a strike price of 15800, where 37815 open interest was added today, followed by 16300 strike price where (33665) open interest was added. Highest total put open interest (80286) stood at a strike price of 16300. This is followed by a strike price of 16500, which saw a total put option open interest of 74484 contracts. 

 
The Nifty 50 put call ratio (PCR) closed at 0.75 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 9 stands at 16600. 
 

Top five call and put open interest with their strike price