Market watch: What does the F&O market suggest about trade on March 14?

The Nifty 50 put call ratio (PCR) closed at 0.74 for the day.

In a choppy session, the frontline equity indices managed to close in green in today’s trade. Nifty 50 closed above 16600 level with a gain of 35.5 points at 16630. What helped the market in today’s trade was the NIFTY HEALTHCARE INDEX, it was up by 2.6 per cent. Companies that supported Nifty 50 in today’s trade were 'JSW Steel', 'ITC', 'Sun Pharma', 'Cipla' and 'Bajaj Finance'. Nifty VIX opened remained almost flat at 25.5825 and closed at 25.345 with a loss of 0.92 per cent. 

Activity on the F&O front for weekly expiry on March 17 shows 17500 to act as a strong resistance now. Highest open interest contract of 86674 stood at this strike price. The second-highest call option open interest 80426 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 17500 in the last trading session. A total of 41098 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 30727 open interest was added today, followed by 16500 strike price where (24587) open interest was added. Highest total put open interest (72810) 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 52182 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.74 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 16600.

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