Market watch: What does the Futures and Options market suggest about trade on May 27?

The Nifty 50 put call ratio (PCR) closed at 0.99 for the day.

Indian equity market snapped the three-day losing streak in today’s trade. Equity markets recovered from its lows and Sensex jumped over 500 points while Nifty 50 saw a gain of almost 150 points. Nifty 50 opened at 16105.00 against the previous close of 16025.80, which means a gap up of 79.20 points. It closed with a gain of 144.35 points or 0.9 per cent at 16170.15. 

In today’s trade, the best performing index was NIFTY PSU BANK which was up by 3.16 per cent. This is followed by NIFTY METAL, which was up by 2.67 per cent. The worst performing index in today's trade was NIFTY FMCG. It was down by 0.22 per cent. In terms of companies, HDFC twins and ICICI Bank helped the market to close in green. Indian equity market remained the best performer globally. Nifty VIX too cooled off by 10.14 per cent to close at 22.71. 

Activity on the F&O front for weekly expiry on June 2 shows 17000 to act as a strong resistance now. Highest call open interest contract of 62273 stood at this strike price. The second-highest call option open interest 47682 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 17000 in the last trading session. A total of 28435 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 35786 open interest was added today, followed by 15800 strike price where (22807) open interest was added today. Highest total put open interest (45623) stood at a strike price of 14500. This is followed by a strike price of 15000, which saw a total put option open interest of 41009 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.99 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 2 stands at 16150.

Top five call and put open interest with their strike price