Market watch: What does the Futures and Options market suggest about trade on June 24?

Shashikant Singh
/ Categories: Trending, Mindshare
Market watch: What does the Futures and Options market suggest about trade on June 24?

The Nifty 50 put call ratio (PCR) closed at 0.99 for the day.

On the weekly expiry day, frontline indices saw huge volatility. Nonetheless, it was positive commentary from RBI minutes that helped indices to close in green. A fall in the crude oil prices too added to the sentiment. Nifty 50 opened at 15451.55 against the previous close of 15413.30, which means a gap up of 38.25 points. It continued to build on this gain with a sharp cut after 11:30 AM. But again, it recovered from its lows and closed with a gain of 143.35 points or 0.93 per cent at 15556.65. 

 

In today’s trade, the best performing index was NIFTY AUTO, it was up by 4.39 per cent. This is followed by NIFTY IT, which was up by 1.96 per cent. The worst performing index in today's trade was NIFTY OIL & GAS. It is down by 0.43 per cent. Out of total the 15.0 companies forming part of the index, 8.0 companies closed in red, and 7.0 closed in green. Nifty VIX opened at 21.3 and closed at 20.88 with a cut of 1.97 per cent. 

 

Activity on the F&O front for weekly expiry on June 30 shows 16000 to act as a strong resistance now. The highest call open interest contract of 112114.0 stood at this strike price. The second-highest call option open interest 94159.0 for Nifty 50 stood at a strike price of 16500. In terms of the highest addition of open interest in the call options front, it was at 16500 in the last trading session. A total of 43311 open interest was added at this strike price.

 

In terms of put activity, the highest put writing was seen at a strike price of 14000, where 44827 open interest was added today, followed by 14200 strike price where (21378) open interest was added. Highest total put open interest (119800.0) stood at a strike price of 14000. This is followed by a strike price of 15500, which saw a total put option open interest of 105684.0 contracts.

 

The Nifty 50 put call ratio (PCR) closed at 0.99 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 30 stands at 15700.

 

Top five call and put open interest with their strike price

Strike Price

Open Interest (Call)

16000.0

112114.0

16500.0

94159.0

17000.0

62186.0

15700.0

61552.0

15500.0

60312.5

Strike Price

Open Interest (Put)

14000.0

119800.0

15500.0

105684.0

14500.0

82819.0

15000.0

77716.0

15200.0

62505.0

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