F&O Action: Futures and Options market cues for trading on February 10

In today’s trade, Nifty 50 closed above 17400 and was up by 197.05 points i.e., 1.14 per cent. This was supported by a gain in almost all the sectors, however, Auto and Bank were the primary movers. In today’s trading session only one BSE sectoral index closed on a negative note namely S&P BSE Oil & Gas. Nifty VIX cooled off and closed below 19 at 18.56 down by 5.74 per cent in today’s trade.   

Activity on the F&O front for weekly expiry on February 10 shows 18000 to act as a strong resistance now. Highest open interest contract of 148504 stood at this strike price. The second-highest call option open interest 143172 for Nifty 50 stood at a strike price of 17700. In terms of the highest addition of open interest in the call options front, it was at 17700 in the last trading session. A total of 24211 open interest was added at this strike price.  

In terms of put activity, the highest put writing was seen at a strike price of 17400, where 104886 open interest was added today, followed by 17300 where (42785) open interest was added. Highest total put open interest (121734) stood at a strike price of 17400. This is followed by a strike price of 17000, which saw a total put option open interest of 119937 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.78 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 stands at 17400.