Market watch: What does the Futures and Options market suggest about trade on April 29?

The Nifty 50 put call ratio (PCR) closed at 1.11 for the day.

Taking global positive cues, Indian equity market opened in green in today’s trade. Nifty 50 opened at 17189.50 against the previous close of 17038.40, which means a gap up of 151.10 points. Better than expected result from FMCG major, HUL lifted the performance of the entire FMCG basket and Nifty FMCG was the best performing index in today’s trade. It was up by 2.19 per cent. The worst performing index in today's trade was NIFTY MEDIA. It was down by 3.15 per cent. Nifty is showing resilience due to better performance of index heavyweight Reliance Industries, on the back of expectation of strong results. Nifty VIX opened at 20.6 and closed at 19.38 with a loss of around six per cent in today’s trade. 

Activity on the F&O front for weekly expiry on May 5 shows 17300 to act as a resistance now. Highest call open interest contract of 48433 stood at this strike price. The second-highest call option open interest 47190 for Nifty 50 stood at a strike price of 18000. In terms of the highest addition of open interest in the call options front, it was at 17300 in the last trading session. A total of 27806 open interest was added at this strike price. 

In terms of put activity, the highest put writing was seen at a strike price of 16000, where 44794 open interest was added today, followed by 17200 strike price where (30589) open interest was added. Highest total put open interest (62849) stood at a strike price of 16000. This is followed by a strike price of 17000, which saw a total put option open interest of 59950 contracts. 

The Nifty 50 put call ratio (PCR) closed at 1.11 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 May 5 stands at 17200. 

Top five call and put open interest with their strike price