Market watch: What does the Futures and Options market suggest about trade on June 17?

The Nifty 50 put call ratio (PCR) closed at 0.47 for the day.

Tracking US equity market overnight, the Indian equity market too opened in green in today’s trade. But soon they were hammered, and frontline indices lost more than three per cent from its peak. Nifty 50 opened at 15832.25 against the previous close of 15692.15, which means a gap up of 140.10 points. Finally, it closed with a cut of 331.55 points or 2.11 per cent at 15360.6. In the process of this fall, it broke many technical and psychological level including 15500.  

In today’s trade, all indices closed in green. Even the best performing index NIFTY FMCG was down by 0.57 per cent. This is followed by NIFTY PHARMA, which was down by 1.59 per cent. The worst performing index in today's trade was NIFTY METAL. It is down by 5.24 per cent. Out of the total 15.0 companies forming part of the index, all closed in red. There was no sharp jump in the Nifty VIX and it closed with a gain of 3.25 per cent at 22.8675. 

Activity on the F&O front for weekly expiry on June 23 shows 16000 to act as a strong resistance now. The highest call open interest contract of 81025 stood at this strike price. The second-highest call option open interest 80738 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 18900 in the last trading session. A total of 64920 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 14500, where 28822 open interest was added today, followed by 15000 strike price where (26122) open interest was added. Highest total put open interest (48915) stood at a strike price of 15000. This is followed by a strike price of 14200, which saw a total put option open interest of 44193 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.47 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 23 stands at 15500.

Top five call and put open interest with their strike price