Market watch: What does the Futures and Options market suggest about trade on May-30?

Shashikant Singh
/ Categories: Trending, Mindshare
Market watch: What does the Futures and Options market suggest about trade on May-30?

The Nifty 50 put call ratio (PCR) closed at 1.07 for the day.

Taking cues from global market, domestic equity market closed in the green for second day in row. Nifty 50 opened at 16296.60 against the previous close of 16170.15, which means a gap up of 126.45 points.  It continued to build on that and finally closed with a gain of 182.3 points or 1.13 per cent at 16352.45. Indian equity market remained one of the best performing markets globally.  All sectorial indices except for Oil & Gas and Metals ended in green.  The best performing index was NIFTY IT, it was up by 2.54 per cent. This is followed by NIFTY MEDIA, which was up by 2.49 per cent. The worst performing index in today's trade was NIFTY OIL & GAS. It is down by -1.00 per cent. Out of total 15.0 companies forming part of the index, 11.0 companies closed in red.

 

Nifty VIX cooled off by 5.44 per cent and closed at 21.48 in today's trade.

 

Activity on the F&O front for weekly expiry on June 2 shows 17000 to act as a strong resistance now. Highest call open interest contract of 97520 stood at this strike price. The second-highest call option open interest 78309 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 49566 open interest was added at this strike price.

 

In terms of put activity, the highest put writing was seen at a strike price of 16300, where 71478 open interest was added today, followed by 15100 strike price where (64151) open interest was added today. Highest total put open interest (89014) stood at a strike price of 16000. This is followed by a strike price of 16300, which saw a total put option open interest of 79312 contracts.

 

 The Nifty 50 put call ratio (PCR) closed at 1.07 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 2 stands at 16300.

 

Top five call and put open interest with their strike price

Strike Price

Open Interest (Call)

17000

97520

16300

78309

16500

67859

16600

61757

16400

56838

Strike Price

Open Interest (Put)

16000

89014

16300

79312

15100

72574

15000

66556

15500

62123

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