Market watch: What does the F&O market suggest about trade on March 29?

Max pain at the end of today's trade for weekly expiry on March 31 stands at 17150.

Equity market in India gained in today’s trade after buying emerged after 12 pm. Positive global markets fall in crude oil prices were some of the reasons why the equity market closed in red after a gap of three days. Nifty 50 closed in the green in today's trade with a gain of 69.00 points. Index heavyweights such as 'Reliance Industries' and ‘ICICI Bank’ helped Nifty 50 to close in green. While HDFC, HDFC Life and SBI Life Insurance dragged Nifty 50.   

Nifty VIX opened at 23.43 and closed at 22.61 with a loss of 3.49 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 211175.0 stood at this strike price. The second-highest call option open interest 122508.0 for Nifty 50 stood at a strike price of 17500. In terms of the highest addition of open interest in the call options front, it was at 17900 in the last trading session. A total of 65294 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 16500, where 31013 open interest was added today, followed by 16400 strike price where (18476) open interest was added. Highest total put open interest (125019.0) stood at a strike price of 16500. This is followed by a strike price of 16000, which saw a total put option open interest of 122386.0 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.81 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 17150. 

Top five call and put open interest with their strike price