Market watch: What does the Futures and Options market suggest about trade on June 20?

The Nifty 50 put call ratio (PCR) closed at 0.56 for the day.

The Indian equity market extended its losses for the sixth day in a row and the Nifty 50 closed below 15300. Nifty 50 opened at 15272.65 against the previous close of 15360.60, which means a gap down of 87.95 points. This is despite a positive signal from SGX Nifty. In a very choppy session, it finally closed with a cut of 67.1 points or 0.44 per cent at 15293.5. Indian equity market remained one of the worst-performing markets globally.  

In today’s trade, the best performing index was NIFTY PRIVATE BANK it was up by 0.41 per cent. This was followed by NIFTY BANK, which was up by 0.39 per cent. The worst performing index in today's trade was NIFTY OIL & GAS. It was down by -2.27 per cent. Despite all the fall, Nifty VIX closed with a cut of 0.48 per cent at 22.75. 

Activity on the F&O front for weekly expiry on June 23 shows 16000 to act as a strong resistance now. The highest call open interest contract of 135089 stood at this strike price. The second-highest call option open interest 120136 for Nifty 50 stood at a strike price of 16300. In terms of the highest addition of open interest in the call options front, it was at 16300 in the last trading session. A total of 81433 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 14500, where 41684 open interest was added today, followed by 15000 strike price where (35072) open interest was added. The highest total put open interest (82050) stood at a strike price of 15000. This is followed by a strike price of 14500, which saw a total put option open interest of 78976 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.56 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 23 stands at 15400.

Top five call and put open interest with their strike price