Market watch: What does the F&O market suggest about trade on December 14?

Activity on the F&O front for weekly expiry on December 16 shows 17600 to act as a strong resistance now. The highest open interest contract of 137757 stood at this strike price. The second-highest call option open interest 134799 for Nifty 50 stood at a strike price of 18000. In terms of the highest addition of open interest in the call options front, it was at 17600 in the last trading session. A total of 85399 open interest was added at this strike price.

In terms of put activity, the highest put writing was seen at a strike price of 17000, (20,987) open interest was added on (2021-12-13 ), followed by 17100 where 13352 open interest was added on 2021-12-13. The highest total put open interest (77034) stood at a strike price of 17000. This is followed by a strike price of 17400, which saw a total put option open interest of 66414 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.55 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.