Market watch: What does the Futures and Options market suggest about trade on June 27?

Shashikant Singh
/ Categories: Trending, Mindshare
Market watch: What does the Futures and Options market suggest about trade on June 27?

The Nifty 50 put call ratio (PCR) closed at 0.97 for the day.

Indian equity market gained for the second consecutive day thanks to positive global cues. Brent crude fell by 16 per cent from its recent peak, which augurs well for the Indian economy. Even the US Fed chair's testimony to the congress did not spring any surprises. All this along with the equity market into oversold territory helped it to gain. Nifty 50 opened at 15657.40 against the previous close of 15556.65, which means a gap-up of almost 100 points. It continued to trade in green for the entire day and finally closed with a gain of 142.6 points or 0.92 per cent at 15699.25. In today’s trade, the best performing index was NIFTY MEDIA which was up by 2.54 per cent. This is followed by NIFTY PSU BANK, which was up by 1.98 per cent. The worst performing index in today's trade was NIFTY IT. It is down by 0.89 per cent. Out of the total 10.0 companies forming part of the index, all closed in red. Nifty VIX opened at 20.88 and closed at 20.55 with a loss of 1.58 per cent in today’s trade.  

 

 

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 157534.0 stood at this strike price. The second-highest call option open interest 141370.0 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 15900 in the last trading session. A total of 70598 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  55861 open interest was added today, followed by 15700 strike price where (50142) open interest was added today. Highest total put open interest (144460.0) stood at a strike price of 15500. This is followed by a strike price of 14500, which saw a total put option open interest of 138848.0 contracts.

 

 The Nifty 50 put call ratio (PCR) closed at 0.97 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

157534.0

16500.0

141370.0

15700.0

118441.0

15900.0

111953.0

15800.0

101952.0

Strike Price

Open Interest (Put)

15500.0

144460.0

14500.0

138848.0

14000.0

129081.0

15000.0

121167.0

15400.0

83580.0

 

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