Nifty & Sensex: who is building what before 27 Oct
Four words to know first
Tap each one. You will need them to read the charts below.
Open interest (OI)
The number of option contracts still open at a strike. Big OI at a call strike means many traders have sold calls there and want price to stay below it. Big put OI means sellers want price to stay above it. That is why traders call them a “call wall” and a “put wall”.
PCR (put–call ratio)
Total put OI divided by total call OI. Below 1 means more calls are open than puts. When call sellers dominate like that, it often means they expect price not to rise much.
Max pain
The strike where option buyers, all together, would lose the most money if the market closed there on expiry day. Price sometimes drifts toward it near expiry, but it is a tendency, not a rule.
Build-up types
Short build-up: price down, OI up (sellers adding). Long build-up: price up, OI up (buyers adding). Short covering: price up, OI down (sellers exiting). Long unwinding: price down, OI down (buyers exiting).
Where the open interest sits for 27 Oct
27 Oct expiry · OI by strike
Red bars are calls, green bars are puts, in lakh quantity. The blue dashed line is where Nifty closed; the gold line is max pain. Switch views to see what was added today and where trading happened.
Quick check
Look at the “Added today” view. Which side added more OI near the current price?
Build-up near the money
The highlighted row is the strike closest to Nifty’s close. Read across: what are call traders doing, and what are put traders doing, at the same strike?
| Strike | CE LTP | CE OI (L) | CE OI chg | CE build-up | PE build-up | PE OI chg | PE OI (L) | PE LTP |
|---|
Price and the next expiries
Nifty daily chart
Since 15 Sep. Faint bars at the bottom are volume. Dashed lines are the 20 and 50 day EMA; the dotted line is the 8 Oct low. The last candle is today’s close.
November expiries · OI by strike
Positioning for the next two weeks. 03 Nov is the next weekly; 23 Nov is the monthly.
Sensex: what the chart alone says
No option data here, only price. The same tools: moving averages, a Fibonacci retracement of the last swing, and where buyers stepped in before.
Sensex daily chart
Since 15 Sep. Dashed lines are the 20 and 50 day EMA. Thin gold lines are Fibonacci levels of the 8 Oct low to 19 Oct high swing. The last candle is today’s close.
Five things to notice
Every expiry at a glance
Notice how the PCR and max pain shift as you move further out. Near expiries show heavy call selling; the monthlies are more balanced.
| Expiry | Type | Days | PCR | ATM IV | CE OI (L) | PE OI (L) | CE added | PE added | Max pain | Call wall | Put wall |
|---|
How to watch next week: three “if this, then watch that” cases
These are not predictions or trade ideas. They show how a trader reads the levels above and what would change the picture.
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