Market watch: What does the F&O market suggest about trade on March 10?

The Nifty 50 put call ratio (PCR) closed at 0.73 for the day

Indian equity market tracking the global equity market futures opened in green and continued to build on that. Rally in RIL, autos and banks stocks boosted the indices higher. Except for the Nifty Metal index, all the other sectoral indices closed in the green with Media stocks leading from the front. Nifty 50 opened at 16078.0 and finally closed with a gain of 331.9 points or 2.07 per cent at 16345.35. Even BSE Sensex closed with a gain of 1223.24 points at 54,647.33. Nifty VIX saw a cool-off and closed at 27.4675 with a loss of 3.91 per cent in today’s trade.     

Activity on the F&O front for weekly expiry tomorrow shows 17000 to act as a strong resistance now. Highest open interest contract of 193317 stood at this strike price. The second-highest call option open interest 110189 for Nifty 50 stood at a strike price of 16800. In terms of the highest addition of open interest in the call options front, it was at 16800 in the last trading session. A total of 19666 open interest was added at this strike price. 

In terms of put activity, the highest put writing was seen at a strike price of 16200, where 51443 open interest was added today, followed by 16300 strike price where (44729) open interest was added. The highest total put open interest (112230) stood at a strike price of 15500. This is followed by a strike price of 16000, which saw a total put option open interest of 93708 contracts. 

The Nifty 50 put-call ratio (PCR) closed at 0.73 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 tomorrow stands at 16200. 

Top five call and put open interest with their strike price