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NIFTY and BANKNIFTY at a glance
| Index | Spot | Day change | PCR | Put / call wall | Max pain | Verdict |
|---|---|---|---|---|---|---|
| NIFTY | 22708 | n/a | 1.05 | 22500 / 23000 | 22700 | Mixed indications |
| BANKNIFTY | 54315 | n/a | 0.94 | 54000 / 55000 | 55500 | Mixed indications |
NIFTY: mixed indications. BANKNIFTY: mixed indications. Neither pair of readings is a clear signal on its own.
NIFTY: 15-minute window · BANKNIFTY: 15-minute window. PCR is full-expiry Open Interest, puts ÷ calls. The walls are the largest put Open Interest at or below spot and the largest call Open Interest at or above it.
NIFTY — Mixed indications
15m positioning 100% bullish · NIFTY has no previous close
- The dayNIFTY at 22708 · PCR 1.05 full expiry, 0.98 on screen
- The positionsPut wall 22500 (71.67L, +42.65L today) · Call wall 23000 (87.50L, +32.38L today) · 1.12 puts added per call today
- The tradingBusiest 22600 (33.92Cr traded) · 4% positions opening in this window · biggest new position 23050 Call long build-up (+44.6K)
Where NIFTY sits against its walls
- Above the call wallSustained trade above 23000 (+292 from spot). Next call Open Interest above: 24000 (85.38L).
- Between the walls · spot is hereSpot between 22500 and 23000, now 42% of the way up. Max pain 22700 (−7.85 from spot).
- Below the put wallSustained trade below 22500 (−208 from spot). Next put Open Interest below: 20050 (88.22L).
Levels
| Level | Price | From spot | Open Interest |
|---|---|---|---|
| Move range high | 23011 | +303 (+1.34%) | — |
| Call wall | 23000 | +292 (+1.29%) | 87.50L |
| Next call wall | 22800 | +92 (+0.41%) | 61.08L |
| Spot | 22708 | — | — |
| Max pain | 22700 | −8 (−0.03%) | — |
| Gamma flip | 22686 | −22 (−0.10%) | — |
| Next put wall | 22600 | −108 (−0.47%) | 62.25L |
| Put wall | 22500 | −208 (−0.92%) | 71.67L |
| Move range low | 22405 | −303 (−1.34%) | — |
The move being priced
The ATM straddle prices a move of about ±303 to expiry, a range of 22405 to 23011, at an ATM implied volatility of 15.3%. This is a pricing convention, not a forecast.
How this verdict was reached
- Comparison window15-minute, 3:06 pm to 3:21 pm
- Legs matched42 of 42 (100%) · 21 Call, 21 Put
- Positioning lean100% bullish
- NIFTY vs previous closeNo previous close
- ResultMixed indications
What is uncertain
- 96% of the bullish-grouped change is positions closing (short covering and long unwinding), not new positions opening.
Expiry 2026-11-03 · 21 displayed strikes, 22200 to 23200 · Full expiry, 235 strikes, 17000 to 28700
BANKNIFTY — Mixed indications
15m positioning 86% bearish · BANKNIFTY has no previous close
- The dayBANKNIFTY at 54315 · PCR 0.94 full expiry, 1.20 on screen
- The positionsPut wall 54000 (7.06L, +2.75L today) · Call wall 55000 (11.37L, +81.0K today) · 1.22 puts added per call today
- The tradingBusiest 54000 (46.96L traded) · 26% positions opening in this window · biggest new position 54500 Call long build-up (+5.7K)
Where BANKNIFTY sits against its walls
- Above the call wallSustained trade above 55000 (+685 from spot). Next call Open Interest above: 57000 (18.34L).
- Between the walls · spot is hereSpot between 54000 and 55000, now 31% of the way up. Max pain 55500 (+1185 from spot).
- Below the put wallSustained trade below 54000 (−315 from spot). Next put Open Interest below: 53000 (4.62L).
Levels
| Level | Price | From spot | Open Interest |
|---|---|---|---|
| Move range high | 55860 | +1545 (+2.85%) | — |
| Max pain | 55500 | +1185 (+2.18%) | — |
| Call wall | 55000 | +685 (+1.26%) | 11.37L |
| Next call wall | 54500 | +185 (+0.34%) | 4.35L |
| Spot | 54315 | — | — |
| Put wall | 54000 | −315 (−0.58%) | 7.06L |
| Gamma flip | 53937 | −378 (−0.70%) | — |
| Next put wall | 53800 | −515 (−0.95%) | 1.35L |
| Move range low | 52769 | −1545 (−2.85%) | — |
The move being priced
The ATM straddle prices a move of about ±1545 to expiry, a range of 52769 to 55860, at an ATM implied volatility of 15.7%. This is a pricing convention, not a forecast.
How this verdict was reached
- Comparison window15-minute, 3:06 pm to 3:21 pm
- Legs matched42 of 42 (100%) · 21 Call, 21 Put
- Positioning lean86% bearish
- BANKNIFTY vs previous closeNo previous close
- ResultMixed indications
What is uncertain
- 80% of the bearish-grouped change is positions closing (long unwinding and short covering), not new positions opening.
- Premium figures are priced at ATM 54500, which differs from the strike nearest spot, 54300.
Expiry 2026-11-23 · 21 displayed strikes, 53300 to 55300 · Full expiry, 187 strikes, 32000 to 72900
NIFTY on the live tools
This article is the read. These pages are the terminal, each opening on NIFTY.