Market watch: What does the Futures and Options market suggest about trade on June 22?

The Nifty 50 put call ratio (PCR) closed at 1.06 for the day.

Indian equity market gained in today’s trade imitating S&P Futures, which is trading high. Other Asian equity markets are also trading high. Nifty 50 opened at 15455.95 against the previous close of 15350.15, which means a gap up of 105.80 points. It built on this and continued to move up. It finally closed with a gain of 288.65 points or 1.88 per cent at 15638.8. The broader market also witnessed good gained more than three per cent after yesterday’s huge selling. In today’s trade all the sectoral indices closed in green, the best performing index was NIFTY MEDIA which was up by 5.49 per cent. This is followed by NIFTY OIL & GAS, which was up by 4.83 per cent. The worst performing index in today's trade was NIFTY FMCG. It was also up by 1.09 per cent. Out of the total 15.0 companies forming part of the index, 5.0 companies closed in red, and 10.0 closed in green. Nifty VIX crashed by 5.66 per cent in today’s trade.  

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 200268 stood at this strike price. The second-highest call option open interest 106451 for Nifty 50 stood at a strike price of 16200. In terms of the highest addition of open interest in the call options front, it was at 16200 in the last trading session. A total of 26226 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 15600, where 82886 open interest was added today, followed by a 15500 strike price where (70123) open interest was added. Highest total put open interest (137560) 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 120806 contracts.

The Nifty 50 put call ratio (PCR) closed at 1.06 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 15600.

Top five call and put open interest with their strike price