Market watch: What does the F&O market suggest about trade on March 30?

The Nifty 50 put call ratio (PCR) closed at 0.98 for the day.

Nifty closed above 17300 in today’s trade, the highest level in last one month. The gain in Nifty index was led by HDFC twins and Infosys and it closed with a gain of 103.30 points in today’s trade. Sensex gained 350 points, primarily led by private banks and Airtel. Ruchi Soya and Religare were major movers in today’s trade. In terms of sectoral movement, pharma index was the prime gainer while media was the loser. Nifty VIX opened at 22.61 and closed at 21.30 with a loss of 5.78 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 185099.0 stood at this strike price. The second-highest call option open interest 138692.5 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 17800 in the last trading session. A total of 20194.0 open interest was added at this strike price. 

In terms of put activity, the highest put writing was seen at a strike price of 17300, where 62462 open interest was added today, followed by 16600 strike price where (61443) open interest was added. Highest total put open interest (135000.0) stood at a strike price of 16500. This is followed by a strike price of 17000, which saw a total put option open interest of 128932.0 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.98 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 17200. 

Top five call and put open interest with their strike price