Market watch: What does the Futures and Options market suggest about trade on June 16?

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

Market participants were reluctant to take any position before the outcome of the FOMC meeting. Nifty 50 saw a flat opening and it opened at 15729.25 against the previous close of 15732.10. After swinging in between positive and negative for the most part of the day, it closed with a cut of 39.95 points or 0.25 per cent at 15692.15. In today’s trade the best performing index was NIFTY AUTO it was up by 0.92 per cent. This is followed by NIFTY SMALLCAP 50, which was up by  0.73 per cent. The worst performing index in today's trade was NIFTY OIL & GAS. It is down by 0.76 per cent. Nifty VIX closed with a gain of 1.18 per cent at 22.15. Commentary of the US Fed will determine the future course of the market.

Activity on the F&O front for weekly expiry tomorrow shows 16000 to act as a strong resistance now. The highest call open interest contract of 173149 stood at this strike price. The second-highest call option open interest 164520 for Nifty 50 stood at a strike price of 16200. In terms of the highest addition of open interest in the call options front, it was at 16000 in the last trading session. A total of 53101 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 15000, where  51800 open interest was added today, followed by 15550 strike price where (20877) open interest was added. Highest total put open interest (185094) stood at a strike price of 15000. This is followed by a strike price of 15500, which saw a total put option open interest of 104804 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 on tomorrow stands at 15800.

Top five call and put open interest with their strike price