Market watch: What does the Futures and Options market suggest about trade on April 8?

The Nifty 50 put call ratio (PCR) closed at 0.52 for the day.

Nifty 50 today witnessed a gap down opening making and an intraday high of 17,787. While, Nifty 50 filled the gap created at the opening, but failed to go beyond as it traded with negative bias. However, it is still trading above its 50 Day Exponential Moving Average (EMA) of 17,250 and 200 Day EMA of 16,805. Looking at the Fibonacci retracement levels then, the Nifty 50 is still trading above its 23.6 per cent of the recent swing which is placed at 17,500 levels. 

On the sectoral front, Healthcare, Pharmaceuticals and Realty were the Top Gainers, while Oil & Gas, Consumer Durables, Energy, Metal and Infrastructure were the top losers. Moreover, Nifty Mid-Cap 150 and Nifty Small-Cap 250 indices outperformed the Nifty 50. Nifty VIX opened at 19.02 and closed at 18.99 with a loss of 0.13 per cent.

Activity on the F&O front for weekly expiry on April 13 shows highest call open interest contract of 89233 stood at 19000 strike price. The second-highest call option open interest 88666 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 19000 in the last trading session. A total of 70863 open interest was added at this strike price. 

In terms of put activity, the highest put writing was seen at a strike price of 17700, where 24961 open interest was added today, followed by 16500 strike price where (24718) open interest was added. Highest total put open interest (42578) stood at a strike price of 17800. This is followed by a strike price of 17000, which saw a total put option open interest of 40717 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.52 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 13 stands at 17750.

Top five call and put open interest with their strike price