Market watch: What does the F&O market suggest about trade on December 17?

The Nifty 50 put call ratio (PCR) closed at 0.58 for the day.

The Indian equity market continue to underperform its Asian as well as European peers. Despite getting a positive handover from US market, domestic equity market failed to gain on that. Though it broke four continuous days of closing in red, it rises the least in major global equity market. Nifty 50 closed 0.16% or 27 points up at 17248. 

Activity on the F&O front for weekly expiry on 23-Dec-2021 shows 17300 to act as a pivotal point now. Nevertheless, highest open interest contract of 88,028 stood at strike price of 18,500. The second-highest call option open interest 71,466 for Nifty 50 stood at a strike price of 17300. In terms of the highest addition of open interest in the call options front, it was at 18500 in the last trading session. A total of 83,441 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 (40276 open interest added on 2021-12-16 ), followed by 17200 (28536 open interest added on 2021-12-16). Highest total put open interest (48633) stood at a strike price of 17300. This is followed by a strike price of 17200, which saw a total put option open interest of 47580 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.58 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 stand at 17300