Market watch: What does the Futures and Options market suggest about trade on April 13?

The Nifty 50 put call ratio (PCR) closed at 0.48 for the day

Tracking global cues, the Indian equity market too performed poorly in today’s trade. Rising bond yields are weighing globally on the equity market, especially on growth stocks ahead of key inflation data in the US. Even in India inflation numbers published aftermarket hours are ahead of RBIs comport zone and market expectation. Nifty 50 opened with a gap down at 17584.85 against the previous close of 17674.95. In a choppy session, it closed with a loss of 144.65 points or 0.82 per cent at 17530.3. Even the broader market fell, which were performing well till now. Banking stocks gained while IT continued with their losing streak. Nifty VIX opened at 18.27 and closed at 18.16 showing a marginal fall. 

Activity on the F&O front for weekly expiry tomorrow shows 18000 to act as a strong resistance now. Highest call open interest contract of 187292 stood at this strike price. The second-highest call option open interest 147989 for Nifty 50 stood at a strike price of 17600. In terms of the highest addition of open interest in the call options front, it was at 17600 in the last trading session. A total of 131633 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17400, where 24302 open interest was added today, followed by 17450 strike price where (19017) open interest was added. Highest total put open interest (102256) stood at a strike price of 17000. This is followed by a strike price of 17500, which saw a total put option open interest of 86549 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.48 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 17600.

Top five call and put open interest with their strike price