Market watch: What does the Futures and Options market suggest about trade on June 28?

The Nifty 50 put call ratio (PCR) closed at 1.0 for the day.

Indian equity market registered a third consecutive day of gain in today’s trade. It is global factors that are driving the Indian equity market currently. Easing inflation globally has led to a rally in the global equity market and India remained part of it. Nifty 50 opened at 15926.20 against the previous close of 15699.25, which means up by more than 200 points. Nevertheless, it closed with a gain of 132.8 points or 0.85 per cent at 15832.05.  

All the sectoral indices closed in the green in today’s trade and the best performing index was NIFTY IT, which was up by 2.05 per cent. This is followed by NIFTY SMALLCAP 100, which was up by 2.04 per cent. The worst performing index in today's trade was NIFTY MEDIA. It was also up by 0.01 per cent. Despite such a rise in the market, Nifty VIX gained by 2.21 per cent to close at 21.005

Activity on the F&O front for weekly expiry on June 30 shows 16000 to act as a strong resistance now. The highest call open interest contract of 176484.0 stood at this strike price. The second-highest call option open interest 166887.0 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 16200 in the last trading session. A total of 45913 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  68515.0 open interest was added today, followed by 15700 strike price where (57655.0) open interest was added. The highest total put open interest (173511.0) 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 149944.0 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.0 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 30 stands at 15850.

Top five call and put open interest with their strike price