F&O Action: Futures and Options market cues for trading on March 9

The Nifty 50 put call ratio (PCR) closed at 0.52 for the day.

Indian equity market made a smart intraday recovery in today’s trade and snaped four days of losing streak. BSE Sensex made an intraday move of more than 1200 points and finally ended 581 points higher. Even the Nifty 50 reclaimed 16000 level after opening at 15747.75 against the previous close of 15863.15 and it finally closed with a gain of 150.3 points or 0.95 per cent at 16013.45. Indian equity market remained one of the best-performing equity markets in Asia. Most of the European markets are trading in green currently. Nifty VIX opened at 29.33 and closed at 28.5875 with a loss of 2.53 per cent.

Activity on the F&O front for weekly expiry on March 10 shows 17000 to act as a strong resistance now. Highest open interest contract of 219921 stood at this strike price. The second-highest call option open interest 100085 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 65350 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 41959 open interest was added today, followed by 15500 strike price where (25350) open interest was added. Highest total put open interest (101836) 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 70368 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.52 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 March 10 stands at 16000.

Top five call and put open interest with their strike price.