Market watch: What does the Futures and Options market suggest about trade on April 6?

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

Nifty 50 today snapped two days of winning steak and closed in red. Profit booking was seen in HDFC twins as analysts expect limited gains for HDFC and HDFC Bank post their merger. Nifty 50 closed in red in today's trade with a fall of 96.00 points. It opened at 18080.60 against the previous close of 18053.40, which means a gap up of 27.20 points. Nonetheless, profit booking in the latter part of the day led to it closing below 18000. Nifty VIX opened at 17.91 and closed at 18.49 with a gain of 3.23 per cent.

Activity on the F&O front for weekly expiry on April 7 shows 18000 to act as a strong resistance now. Highest call open interest contract of 152961 stood at this strike price. The second-highest call option open interest 151504 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 18200 in the last trading session. A total of 46885 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 18000, where 31034 open interest was added today, followed by 17950 strike price where (13736) open interest was added. Highest total put open interest (137582) stood at a strike price of 18000. This is followed by a strike price of 17500, which saw a total put option open interest of 119910 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 7 stands at 17900. 

Top five call and put open interest with their strike price