Market watch: What does the F&O market suggest about trade on March 11?

The Nifty 50 put call ratio (PCR) closed at 0.63 for the day

Nifty 50 today witnessed a huge gap up opening making an intraday high of 16,757. However, for most of the time, it consolidated and finally began to move down and tried to fill the gap. Said that in the last hour of the trading session it tried to cover its lost grounds but ended below 16,600 at 16,594. Also, it tried to break its 200 Day Exponential Moving Average (EMA) of 16,692 but failed to do so. Looking at the Fibonacci retracement levels then, Nifty 50 closed below its 38.2 per cent of the recent swing which is placed at 16,645 levels. On the sectoral front, FMCG, PSU Bank, Metal, Consumer Durables and Realty were the top gainers, while PSE, IT and Pharma were the top losers. Moreover, Nifty Midcap and Nifty Smallcap indices underperformed the Nifty 50. Nifty VIX opened at 27.47 and closed at 25.58 with a loss of 6.86 per cent.

Activity on the F&O front for weekly expiry on March 17 shows the highest open interest contract of 54231 stood at this strike price of 18,000. The second-highest call option open interest 47204 for Nifty 50 stood at a strike price of 17000. In terms of the highest addition of open interest in the call options front, it was at 18000 in the last trading session. A total of 45010 open interest was added at this strike price. 

In terms of put activity, the highest put writing was seen at a strike price of 16000, where 28034 open interest was added today, followed by 16500 strike price where (19591) open interest was added. Highest total put open interest (42311) stood at a strike price of 16000. This is followed by a strike price of 15000, which saw a total put option open interest of 35855 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.63 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 17 stands at 16500. 

Top five call and put open interest with their strike price