Market watch: What does the Futures and Options market suggest about trade on April 26?

The Nifty 50 put call ratio (PCR) closed at 0.65 for the day.

Tracking global negative cues, the Indian equity market opened in deep red today. Nifty 50 opened at 17009.05 against the previous close of 17171.95 and finally closed with a loss of 218.0 points or 1.27 per cent at 16953.95. There was broad-based selling and for the second day in row equity market closed in negative. On the sectoral front Realty, Oil & Gas, Metals, Capital Goods and Telecom fell the most while Banking saw a decent performance on back of better results from ICICI Bank. 

There are fears that a lockdown may also be imposed on Beijing too after Shanghai. Besides investors are also worried about sharper monetary policy tightening. Nifty VIX jumped by 15.82 per cent today and closed above 21. It opened at 18.35 and closed at 21.26. 

Activity on the F&O front for weekly expiry on April 28 shows 17800 to act as a strong resistance now. Highest call open interest contract of 166903 stood at this strike price. The second-highest call option open interest 164856 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 81349 open interest was added at this strike price. 

In terms of put activity, the highest put writing was seen at a strike price of 16900, where 37832 open interest was added today, followed by 16800 strike price where (37400) open interest was added. Highest total put open interest (120814) stood at a strike price of 16000. This is followed by a strike price of 17000, which saw a total put option open interest of 108146 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.65 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 17100.

Top five call and put open interest with their strike price