Daily digest / NIFTY 50 / 2026-10-23 · this week
NIFTY 50 · Friday 23 Oct 2026 · close
22,596 -119.5 (-0.53%)
4th straight down dayExpiry Tue 27 Oct · 2 sessions

Selling from the open, losses pared into the close

NIFTY 50 slid 341 pts from 22,803 at 09:15 to 22,462 by 13:15 IST. Put writers added the most fresh OI at 22,500 (+31.1 L), right where the low held. Call writers built positions at 22,500–23,500, led by 22,500 (+55.2 L). Max pain moved from 22,850 to 22,700, following price down. PCR fell from 0.82 to 0.74.

Spot Max pain 22,500 support PCR 15-min · IST
Open22,803
High · 09:1722,848
Low · 12:5122,438
Avg PCR0.76
Max pain22,700

Key levels into expiry

23,500 Call wall · 193.7 L OI · Fresh calls +45.7 L resistance
22,700 Fresh calls +40.1 L · Max pain cap
22,596 Close ●
22,500 Fresh puts +31.1 L · held the low support
22,400 Fresh puts +22.6 L · held the low support
21,500 Put wall · 136.1 L OI floor

Where writers added today

22,500
+55.2 L
23,500
+45.7 L
22,700
+40.1 L
22,500
+31.1 L
22,400
+22.6 L
21,500
+22.5 L
■ calls   ■ puts · OI change from the first snapshot to the close, strikes near spot

Move vs what options priced

Weekly ATM straddle at open292
Session range410
One session moved 1.4× the weekly straddle's full priced move.

Last 6 sessions

10-15 22,951 —
PCR 1.60
MP 22,900 10-16 23,092 +141
PCR 1.42
MP 23,050 10-19 22,889 -203
PCR 0.92
MP 22,900 10-21 22,735 -154
PCR 0.80
MP 22,900 10-22 22,715 -20
PCR 0.78
MP 22,850 10-23 22,596 -119
PCR 0.76
MP 22,700

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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