Market watch: What does the Futures and Options market suggest about trade on May 16?

Shashikant Singh
/ Categories: Trending, Mindshare
Market watch: What does the Futures and Options market suggest about trade on May 16?

The Nifty 50 put call ratio (PCR) closed at 0.42 for the day.

Taking cues from SGX Nifty and pulling back of US equity indices from their low, the domestic equity market also opened in green, however, lost all its gain in the latter part of the day. Nifty 50 opened at 15977.00 against the previous close of 15808.00, which means a gap up of 169.00 points. It touched an intraday high of 16083 but at the end of the trading, it closed in red in with a fall of 25.85 points. 

 

In today’s trade the best performing index was NIFTY AUTO it was up by 2.44 per cent. This is followed by NIFTY FMCG, which was up by 1.84 per cent. The worst performing index in today's trade was NIFTY METAL. It is down by 2.08 per cent. Nifty VIX opened at 24.265 and closed at 23.485 with a loss of 3.21 per cent.

 

Activity on the F&O front for weekly expiry on May 19 shows 17000 to act as a strong resistance now. Highest call open interest contract of 124887 stood at this strike price. The second-highest call option open interest 91193 for Nifty 50 stood at a strike price of 16800. In terms of the highest addition of open interest in the call options front, it was at 16800 in the last trading session. A total of 60841 open interest was added at this strike price. 

 

In terms of put activity, the highest put writing was seen at a strike price of 15000, where 32124 open interest was today, followed by 14700 strike price where (28309) open interest was added. Highest total put open interest (63513) stood at a strike price of 15000. This is followed by a strike price of 14700, which saw a total put option open interest of 51269 contracts.

 

The Nifty 50 put call ratio (PCR) closed at 0.42 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 May 19 stands at 15900.

Top five call and put open interest with their strike price

Strike Price

Open Interest (Call)

17000

124887

16800

91193

16000

90147

19500

89311

16100

82334

Strike Price

Open Interest (Put)

15000

63513

14700

51269

15500

47047

15800

43557

16000

42633

 

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