Market watch: What does the Futures and Options market suggest about trade on June 03?

The Nifty 50 put call ratio (PCR) closed at 1.01 for the day.

After getting a negative cue from US market, the Indian equity market opened in red in today’s trade. However, after an initial round of volatility, it steered clear of negative territory to close in positive. Nifty 50 opened at 16481.65 against the previous close of 16522.75, which means a gap down of 41.10 points. It finally closed with a gain of 105.25 points or 0.64 per cent at 16628.0. 

In today’s trade, the best performing index was NIFTY OIL & GAS, which was up by 2.28 per cent. This is followed by NIFTY IT, which was up by1.82 per cent. The worst-performing index in today's trade was NIFTY AUTO. It is down by 0.62 per cent.  The domestic equity market remained one of the best performing markets globally. 

Nifty VIX remained above 20 level. It opened at 20.845 and closed at 20.32 with a cut of 2.51 per cent  

 
Activity on the F&O front for weekly expiry on June 9 shows 17500 to act as a strong resistance now. Highest call open interest contract of 50667 stood at this strike price. The second-highest call option open interest 50489 for Nifty 50 stood at a strike price of 17000. In terms of the highest addition of open interest in the call options front, it was at 17500 in the last trading session. A total of 35697 open interest was added at this strike price. 
In terms of put activity, the highest put writing was seen at a strike price of 16300, where 33890 open interest was added today, followed by 16500 strike price where (30056) open interest was added. Highest total put open interest (54139) stood at a strike price of 16000. This is followed by a strike price of 15000, which saw a total put option open interest of 47800 contracts. 
 

The Nifty 50 put call ratio (PCR) closed at 1.01 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 June 9 stands at 16600. 
 

Top five call and put open interest with their strike price