Daily digest / Bank Nifty / 2026-10-23 · this week
Bank Nifty · Friday 23 Oct 2026 · close
54,257 -687.8 (-1.25%)
4th straight down dayExpiry Tue 27 Oct · 2 sessions

Selling from the open, closes near the lows

Bank Nifty slid 906 pts from 55,062 at 09:15 to 54,156 by 13:15 IST. Put writers added the most fresh OI at 52,000 (+4.9 L). Call writers built positions at 54,500–56,500, led by 54,500 (+3.6 L). Max pain moved from 55,500 to 55,000, following price down. PCR fell from 0.94 to 0.87.

Spot Max pain PCR 15-min · IST
Open55,062
High · 09:1555,062
Low · 13:1754,102
Avg PCR0.86
Max pain55,000

Key levels into expiry

56,500 Fresh calls +2.4 L cap
56,000 Call wall · 17.1 L OI resistance
55,000 Max pain magnet
54,500 Fresh calls +3.6 L cap
54,257 Close ●
53,000 Fresh puts +3.0 L support
52,000 Fresh puts +4.9 L · Put wall · 13.4 L OI support

Where writers added today

54,500
+3.6 L
56,500
+2.4 L
55,000
+2.2 L
52,000
+4.9 L
53,000
+3.0 L
52,500
+2.7 L
■ calls   ■ puts · OI change from the first snapshot to the close, strikes near spot

Move vs what options priced

Monthly ATM straddle at open798
Session range960
One session moved 1.2× the monthly straddle's full priced move.

Last 6 sessions

10-15 55,879 —
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 10-22 54,945 -34
PCR 0.92
MP 55,500 10-23 54,257 -688
PCR 0.86
MP 55,000

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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