Market watch: What does the Futures and Options market suggest about trade on April 22?

The Nifty 50 put call ratio (PCR) closed at 0.93 for the day.

Bulls charged Dalal Street for the second day in a row helped by a better performance of index heavyweight Reliance Industries, which touched all-time in today’s trade. Sensex surged by 874 points while Nifty inched up by 256 points. Nifty 50 opened at 17234.60 against the previous close of 17136.55. It kept on building on this and finally closed with a gain of 256.05 points or 1.49 per cent at 17392.6. Indian equity market remained one of the best performers among the global equity markets. Volatility index too saw a decline while Nifty VIX opened at 18.67 and closed at 17.85 with a loss of 4.39 per cent.

Activity on the F&O front for weekly expiry on April 28 shows 19000 to act as a strong resistance now. Highest call open interest contract of 98831 stood at this strike price. The second-highest call option open interest 97650 for Nifty 50 stood at a strike price of 18000. In terms of the highest addition of open interest in the call options front, it was at 19000 in the last trading session. A total of 60262 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 51563 open interest was added today, followed by a 17200 strike price where (25453) open interest was added. Highest total put open interest (86664) stood at a strike price of 17000. This is followed by a strike price of 17300, which saw a total put option open interest of 64912 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.93 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 April 28 stands at 17400.

Top five call and put open interest with their strike price