Daily digest / Bank Nifty / 2026-09-16 · this week
Bank Nifty · Wednesday 16 Sep 2026 · close
56,394
+390.1 (+0.70%)
Expiry Tue 29 Sep · 9 sessions
Quiet, range-bound session
Bank Nifty traded a narrow 476 pts range and closed at 56,394. Put writers added the most fresh OI at 54,000 (+1.2 L). Call writers built positions at 57,300–59,000, led by 59,000 (+0.5 L). Max pain moved from 57,100 to 57,300, following price up. PCR rose from 0.79 to 0.87.
Spot
Max pain
PCR
15-min · IST
Key levels into expiry
59,000
Fresh calls +0.5 L
cap
57,500
Call wall · 22.3 L OI · Fresh calls +0.4 L
resistance
57,300
Max pain
magnet
56,394
Close
●
55,000
Fresh puts +0.9 L
support
54,000
Fresh puts +1.2 L · Put wall · 8.7 L OI
support
Where writers added today
■ calls ■ puts · OI change from the first snapshot to the close, strikes near spot
Move vs what options priced
Monthly ATM straddle at open1,264
Session range476
The session used 38% of the monthly straddle's priced move.
Last 6 sessions
Reading these numbers
- Max pain is the strike where option buyers collectively lose the most at expiry. It often drifts with price, and the pull tends to strengthen into expiry.
- Fresh OI shows where option writers opened new positions during the session. Heavy put writing below price often marks a level sellers expect to hold; heavy call writing above marks a ceiling.
- PCR is put OI ÷ call OI for the monthly expiry.
- Straddle vs range compares the ATM straddle price at the open (what options priced in) with the distance price actually covered.
Descriptive summaries of recorded option-chain positioning, generated automatically — not trading signals or advice.
Read the disclaimer →
Related reading
PCR explained →
How put-call ratio is calculated and when it misleads.
Max pain theory →
Why max pain matters near expiry.
OI buildup →
Reading the four OI patterns.