Market watch: What does the F&O market suggest about trade on March 28?

The Nifty 50 put call ratio (PCR) closed at 0.82 for the day.

Getting positive cues from the US market, Nifty opened higher but soon pared away its early gains. It opened at 17289.00 against the previous close of 17222.75, which means a gap up of 66.25 points, however, closed with a loss of 70 points at 17,153 levels. Among sectors, Realty was the top gainer up 1.4 per cent, followed by Media, PSU Bank and Oil & Gas. While selling was seen in Consumer Durables, IT, Pharma, Private Bank, FMCG, Financial Services and Auto. Nifty is gradually cooling off and today Nifty VIX opened at 23.93 and closed at 23.43 with a loss of 2.08 per cent.

Activity on the F&O front for weekly expiry on March 31 shows 18000 to act as a strong resistance now. Highest call open interest contract of 155320.0 stood at this strike price. The second-highest call option open interest 119677.0 for Nifty 50 stood at a strike price of 18500. In terms of the highest addition of open interest in the call options front, it was at 18100 in the last trading session. A total of 68282 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 38978 open interest was added today, followed by 17000 strike price where (18668) open interest was added. Highest total put open interest (148950.0) stood at a strike price of 16000. This is followed by a strike price of 16500, which saw a total put option open interest of 95801.0 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.82 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 31 stands at 17100.

Top five call and put open interest with their strike price