Market watch: What does the Futures and Options market suggest about trade on June 10?

The Nifty 50 put call ratio (PCR) closed at 1.18 for the day.

After swinging in positive and negative territory for most of the, equity indices closed in green in today's trade and snapped a four-day losing streak. Nifty 50 opened at 16263.85 against the previous close of 16356.25, which means a gap down of 92.40 points.  It closed with a gain of 121.85 points or 0.74 per cent at 16478.1.

In today’s trade, the best performing index was NIFTY OIL & GAS, it was up by 1.96 per cent due to rising crude oil prices internationally. This is followed by NIFTY HEALTHCARE INDEX, which was up by 1.28 per cent. The worst performing index in today's trade was NIFTY METAL. It is down by 1.31 per cent. Out of the total 15.0 companies forming part of the index, 12.0 companies closed in red. Nifty VIX opened at 19.8375 and closed at 19.14 with a loss of 3.51 per cent

Activity on the F&O front for weekly expiry on June 16 shows 17000 to act as a strong resistance now. The highest call open interest contract of 56505 stood at this strike price. The second-highest call option open interest 50348 for Nifty 50 stood at a strike price of 16500. In terms of the highest addition of open interest in the call options front, it was at 16500 in the last trading session. A total of 22560 open interest was added at this strike price.

 In terms of put activity, the highest put writing was seen at a strike price of 15400, where 46046 open interest was added today, followed by 16200 strike price where (44001) open interest was added today. Highest total put open interest (59179) stood at a strike price of 16200. This is followed by a strike price of 15000, which saw a total put option open interest of 55092 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.18 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 16 stands at 16400.

Top five call and put open interest with their strike price