Options desk read, 23 Sep 2026: NIFTY 23,447 (+0.50%), chain, OI and expected move
The desk read for 23 Sep 2026: where NIFTY and BANKNIFTY closed, what the option chain, open interest and expected move said about it, how gold's engine is leaning, and what tomorrow carries.
The close
| Index | Close | Day |
|---|---|---|
| NIFTY 50 | 23,446.8 | +0.50% |
| BANKNIFTY | 56,548.9 | +0.59% |
| SENSEX | 74,828.2 | +0.40% |
| FINNIFTY | 25,564.8 | +0.58% |
| INDIA VIX | 10.3 | -5.91% |
NIFTY finished at 23,446.8 (+0.50%), a flat day, with India VIX at 10.35 (-5.91%).
NIFTY option chain
For the 29-Sep-2026 expiry the put–call ratio is 1.01, max pain sits at 23,500, the call wall is at 24,000 and the put wall at 23,000, ATM 23,450. Open interest is balanced between the two sides. The live chain is free at /option-chain/nifty.
OI build-up on the day: bullish lean — call writers covering at 23,300 / 23,350. Call OI changed by +25,636,650 contracts and put OI by +34,761,010; PCR moved from 0.79 to 0.94.
Expected versus realised: the ATM straddle implied a day move of about ±128 points; the realised range was 117 points, 46% of the expected range — quiet — realised well inside expected. The straddle to expiry was ₹208.2 with ATM IV at 8.7%.
BANKNIFTY option chain
For the 29-Sep-2026 expiry the put–call ratio is 0.93, max pain sits at 57,000, the call wall is at 57,500 and the put wall at 56,000, ATM 56,500. Open interest is balanced between the two sides. The live chain is free at /option-chain/banknifty.
OI build-up on the day: bullish lean — put writing at 56,000 / 56,500 (support); call writers covering at 56,300 / 56,400. Call OI changed by +913,680 contracts and put OI by +1,489,260; PCR moved from 0.92 to 0.99.
Expected versus realised: the ATM straddle implied a day move of about ±366 points; the realised range was 414 points, 57% of the expected range — quiet — realised well inside expected. The straddle to expiry was ₹621.8 with ATM IV at 10.3%.
Gold
XAU/USD at $4,311.10. XAU Sovereign reads 1D STRONG SELL · 4H SELL. Levels and the reasons behind each vote are inside the engine.
FII / DII
On 2026-09-22 FIIs were net ₹-3,810 crore and DIIs net ₹+4,120 crore in the cash market; FII index futures net -302,908 contracts. History and participant positioning at /fii-dii.
Reads like this take a minute when the panels do the counting. The terminal's OISCAN, MOVE, IVP and RISK panels ran every number above live through the session, and the VIP Indicator's three engines mark the trades on the chart.