Daily digest / Bank Nifty / 2026-09-28 · this week
Bank Nifty · Monday 28 Sep 2026 · close
54,548
-1,122.5 (-2.02%)
Expiry Tue 29 Sep · 1 session
Selling from the open, closes near the lows
Bank Nifty opened with a 313-pt gap down at 55,358. Bank Nifty slid 833 pts from 55,358 at 09:15 to 54,525 by 14:45 IST. Put writers added the most fresh OI at 54,000 (+3.3 L). Call writers built positions at 54,500–55,000, led by 55,000 (+10.9 L). Max pain moved from 56,500 to 55,500, following price down. PCR fell from 0.79 to 0.69.
Spot
Max pain
54,500 support
PCR
15-min · IST
Key levels into expiry
57,000
Call wall · 12.2 L OI
resistance
55,500
Max pain
magnet
55,000
Fresh calls +10.9 L
cap
54,800
Fresh calls +4.0 L
cap
54,548
Close
●
54,500
Fresh puts +2.2 L · held the low
support
54,000
Fresh puts +3.3 L · Put wall · 12.1 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 open502
Session range842
One session moved 1.7× the monthly straddle's full 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.