Daily digest / Bank Nifty / 2026-10-21 · this week
Bank Nifty · Wednesday 21 Oct 2026 · close
54,979 -549.7 (-0.99%)
2nd straight down dayExpiry Tue 27 Oct · 4 sessions

Early sell-off, closes near the lows

Bank Nifty slid 1,038 pts from 55,878 at 09:30 to 54,840 by 13:15 IST. Put writers added the most fresh OI at 54,800 (+2.0 L), right where the low held. Call writers built positions at 55,000–57,000, led by 55,000 (+4.0 L). Max pain moved from 55,600 to 55,500, following price down. PCR fell from 0.95 to 0.89.

Spot Max pain 54,800 support PCR 15-min · IST
Open55,561
High · 09:3655,936
Low · 12:2354,794
Avg PCR0.88
Max pain55,500

Key levels into expiry

56,000 Call wall · 16.2 L OI · Fresh calls +1.6 L resistance
55,500 Max pain magnet
55,000 Fresh calls +4.0 L cap
54,979 Close ●
54,800 Fresh puts +2.0 L · held the low support
54,000 Put wall · 7.7 L OI floor
53,100 Fresh puts +1.0 L support

Where writers added today

55,000
+4.0 L
56,000
+1.6 L
57,000
+1.4 L
54,800
+2.0 L
53,100
+1.0 L
53,300
+1.0 L
■ calls   ■ puts · OI change from the first snapshot to the close, strikes near spot

Move vs what options priced

Monthly ATM straddle at open919
Session range1,142
One session moved 1.2× the monthly straddle's full priced move.

Last 6 sessions

10-13 55,900 —
PCR 0.96
MP 55,600 10-14 55,457 -443
PCR 1.01
MP 55,500 10-15 55,879 +422
PCR 1.08
MP 55,800 10-16 55,898 +19
PCR 1.05
MP 55,800 10-19 55,529 -369
PCR 0.97
MP 55,600 10-21 54,979 -550
PCR 0.88
MP 55,500

Max pain: strike where option buyers lose most at expiry. Fresh OI: positions opened this session. PCR: put OI ÷ call OI.

Descriptive summaries of recorded option-chain data. Not trading signals or advice. 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.

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