F&O INDEX OUTLOOK NSE INDIA
NIFTY 50 & NIFTY BANK — Options positioning & strategy
Option chain via Groww · Cash breadth via NSE · Strategy recommended from OI + IV + breadth heuristics · Interactive P&L plot is at-expiry payoff — not investment advice.
NIFTY 50
NIFTY · 2026-04-21
CHAIN OKBias: upward drift (F&O + breadth)
Spot
24,576.60
Index chg
+0.87%
PCR (OI)
1.547
Max pain
24,550
Δ +0.11%
Breadth A/D
35 / 15
Confidence
Medium
Reasoning
  1. Put–call ratio (OI) = 1.547. Low PCR suggests crowded calls (mean-reversion risk); high PCR indicates hedging/bearish positioning.
  2. Max pain ≈ 24,550 vs spot ≈ 24,577 (+0.11%). Near expiry, price tends to gravitate toward max pain.
  3. Session ΔOI: calls +305,364, puts +1,286,732. Fresh OI in the direction of the move implies trend conviction; against the move implies hedging.
  4. ATM (24,600): CE OI 342,764 vs PE OI 147,818, CE IV 31.5% / PE IV 31.5%.
  5. Cash index breadth: 35 up / 15 down (A/D ≈ 2.33).
Full option chain · 2026-04-21 · Lot 65
CALLS STRIKE PUTS
OIΔOIIVLTPChgDeltaTheta ThetaDeltaChgLTPIVΔOIOI
1400.01930.00+219.400.0000-7.3522,650-0.050.0000-0.950.050.0-7923,590
419-410.01875.00+218.400.0000-8.3522,700-0.050.0000-0.950.050.0-9,6508,678
74-30.01831.15+231.150.0000-8.5022,750-0.050.0000-1.000.050.0-6984,872
377-1380.01780.00+209.000.0000-7.3522,800-0.050.0000-1.100.050.0-25,31115,361
61-90.01729.95+191.000.0000-7.6522,850-0.050.0000-1.100.050.0-5,2764,284
313-1350.01679.85+253.350.0000-7.2022,900-0.050.0000-1.050.050.0-8,29916,607
82-160.01587.00+236.800.000035.6522,950-0.050.0000-1.200.050.0-3,1925,146
3,704-3450.01579.85+233.400.0000-5.3523,000-0.050.0000-1.300.050.0-35,12777,808
63-230.01530.70+243.650.0000-6.3523,050-0.050.0000-1.300.050.0-8037,690
484-690.01477.00+222.950.0000-7.3523,100-0.050.0000-1.400.050.0-5,57720,976
92-300.01426.00+201.000.0000-3.3523,150-0.050.0000-1.400.050.0-2,4209,220
712-2110.01377.05+254.050.0000-4.4023,200-0.050.0000-1.600.050.0-15,31548,967
155-110.01331.00+254.900.0000-8.3523,250-0.050.0000-1.900.050.0-6,99112,310
789-3490.01277.50+239.550.0000-7.2523,300-0.050.0000-2.100.050.0-21,54247,316
232-630.01230.35+277.550.0000-7.7023,350-0.050.0000-2.400.050.0-13,70213,546
1,059-2710.01179.10+233.850.0000-6.7523,400-0.050.0000-2.850.050.0-17,03348,185
387-600.01130.05+247.850.0000-7.4023,450-0.050.0000-3.500.050.09,79538,093
3,536-2,0260.01078.95+235.450.0000-6.4523,500-0.050.0000-4.350.050.018,201154,980
717-1990.01029.45+238.300.0000-6.8023,550-0.050.0000-5.150.050.014,93335,658
2,157-3910.0978.85+242.050.0000-6.1523,600-0.050.0000-6.450.050.013,88372,675
835-1590.0929.95+248.450.0000-5.5023,650-0.050.0000-7.850.050.016,97042,673
3,121-1,3270.0876.00+236.900.0000-5.8523,700-0.050.0000-9.650.050.020,18998,594
769-8270.0828.00+229.350.0000-3.4023,750-0.050.0000-12.150.050.09,47247,112
3,089-3,5450.0778.65+229.200.0000-5.3523,800-0.050.0000-15.150.050.019,446109,855
1,843-1,6420.0728.00+220.050.0000-5.6523,850-0.050.0000-18.550.050.073027,068
4,132-2,8880.0678.15+233.350.0000-3.3023,900-0.050.0000-23.150.050.09,07264,766
1,372-5610.0628.25+203.150.0000-5.2023,950-0.050.0000-29.200.050.012,70240,155
6,127-9,1220.0577.00+207.750.0000-4.9024,000-0.050.0000-36.250.050.016,577144,502
1,578-4930.0527.95+196.150.0000-3.5024,050-0.050.0000-44.850.050.030,05858,511
3,967-5,141465.4477.35+185.850.9989-5.0524,100-0.05-0.0011-53.950.05465.45,52983,228
2,157-2,205420.1425.65+170.650.9988-3.4024,150-0.05-0.0012-66.650.05420.128,06366,398
10,601-13,495374.4376.05+158.800.9986-3.7024,200-0.05-0.0014-80.350.05374.432,778117,133
5,930-4,601328.4327.15+140.100.9984-3.6524,250-0.05-0.0016-96.200.05328.458,76597,832
18,373-32,449282.0275.75+125.450.9982-3.6024,300-0.05-0.0018-117.100.05282.060,974149,074
12,770-19,218235.0226.05+101.650.9979-3.5524,350-0.05-0.0021-138.150.05235.058,47190,453
24,979-56,069187.3176.10+70.150.9974-4.1524,400-0.05-0.0026-160.150.05187.3149,221193,672
35,010-13,135138.6126.20+40.300.9965-3.6524,450-0.05-0.0035-185.650.05138.6159,291173,234
81,542-28,19188.276.40+11.250.9947-3.8024,500-0.05-0.0053-220.400.0588.2280,408307,026
131,79997,08034.626.60-24.400.9877-3.7524,550-0.05-0.0123-253.150.0534.6402,399404,911
342,764251,44631.50.05-38.350.0134-0.0524,6004.00-0.9866-269.0523.3531.5143,596147,818
141,626103,82585.20.05-29.550.0054-0.0524,6504.30-0.9946-257.8073.1085.219,07019,948
141,32776,417135.20.05-22.050.0036-0.0524,7004.30-0.9964-255.10123.00135.28,20212,069
91,71856,330183.40.05-16.650.0027-0.0524,7504.50-0.9973-244.55172.90183.42,6463,262
154,22447,144230.30.05-12.600.0022-0.0524,8004.60-0.9978-244.65223.00230.33,3564,764
56,1923,710276.40.05-9.550.0018-0.0524,8504.80-0.9982-234.65273.10276.47151,104
80,15011,581321.70.05-7.400.0016-0.0524,9004.85-0.9984-229.60322.40321.77671,239
43,6356,182366.30.05-5.900.0014-0.0524,9505.25-0.9986-230.40372.55366.3341485
149,883-25,382410.50.05-4.850.0013-0.0525,0004.85-0.9987-234.60422.30410.5-1,2661,603
47,433-21,310454.10.05-3.900.0012-0.0525,0504.75-0.9988-240.30472.70454.1209270
77,451-11,678497.40.05-2.900.0011-0.0525,1005.30-0.9989-222.50522.10497.4170255
24,958-2,3600.00.05-2.300.0000-0.0525,1502.600.0000-250.80572.600.0165202
64,492-30,9580.00.05-1.750.0000-0.0525,2005.450.0000-240.40621.900.030195
23,084-10,3200.00.05-1.350.0000-0.0525,2504.500.0000-250.60672.850.0102120
47,164-23,0890.00.05-1.050.0000-0.0525,3005.700.0000-246.95721.650.039130
23,2548,4330.00.05-0.950.0000-0.0525,3501.700.0000-259.80775.650.05196
44,519-3,4790.00.05-0.750.0000-0.0525,4003.800.0000-226.75823.550.0-650
10,667-2,7560.00.05-0.700.0000-0.0525,450-10.850.0000-258.60888.200.0820
56,576-29,4790.00.05-0.700.0000-0.0525,5004.850.0000-227.15925.250.0-922369
13,6056,5260.00.05-0.700.0000-0.0525,550-3.500.0000-199.10980.850.0025
16,144-2,0840.00.05-0.600.0000-0.0525,6002.350.0000-274.501025.000.0-122
7,7753,3850.00.05-0.650.0000-0.0525,650-4.750.0000-168.351082.100.019
17,2112,8220.00.05-0.500.0000-0.1025,7002.250.0000-190.151125.100.0-34
4,0121,6810.00.05-0.500.0000-0.0525,750-52.350.0000-119.851229.700.002
9,8036620.00.05-0.450.0000-0.0525,800-2.250.0000-130.401229.600.0-412
2,4022500.00.05-0.500.0000-0.0525,850-203.700.0000-307.451481.050.001
3,469-1,3410.00.05-0.450.0000-0.0525,9007.350.0000-158.801320.000.0-24
2,3816580.00.05-0.400.0000-0.0525,950-203.700.0000-306.151581.050.001
32,373-5,9950.00.05-0.450.0000-0.0526,0003.350.0000-264.601424.000.0-479174
3,1851,0110.00.05-0.400.0000-0.0526,050-122.650.0000-704.501600.000.000
3,941-1,6960.00.05-0.400.0000-0.0526,1001.150.0000-197.301526.200.0-716
3,2314180.00.05-0.400.0000-0.0526,150-203.650.0000-620.801781.000.000
1,605-480.00.05-0.350.0000-0.0526,200-203.650.0000-619.601831.000.000
3,3121,6210.00.05-0.350.0000-0.0526,250-203.650.0000-618.451881.000.000
2,536-2090.00.05-0.250.0000-0.0526,300-203.650.0000-617.401931.000.000
1,0554540.00.05-0.300.0000-0.0526,350-203.650.0000-616.401981.000.000
3,7121480.00.05-0.200.0000-0.0526,400-203.650.0000-615.502031.000.000
2,1038720.00.05-0.300.0000-0.0526,450-221.800.0000+0.002099.150.001
10,462-5,2730.00.05-0.200.0000-0.0526,500-72.650.0000-100.002000.000.001
Recommended strategy
Bull Put Spread Bullish (IV-friendly)
SELL 24,600 PE @ 23.35
BUY 24,500 PE @ 0.05
Lot size65
Max profit₹1,514
Max loss₹-4,986
Breakeven(s)24,579
Sell 24,600 PE @ 23.35, Buy 24,500 PE @ 0.05. Net credit strategy benefiting from time decay and bullish bias. High IV inflates the credit received.
P&L at expiry — interactive simulator
P&L curve Breakeven Buy / Max profit Sell / Max loss Spot price
NIFTY BANK
BANKNIFTY · 2026-04-28
CHAIN OKBias: upward drift (F&O + breadth)
Spot
57,371.45
Index chg
+1.39%
PCR (OI)
1.119
Max pain
56,300
Δ +1.90%
Breadth A/D
13 / 1
Confidence
Medium
Reasoning
  1. Put–call ratio (OI) = 1.119. Low PCR suggests crowded calls (mean-reversion risk); high PCR indicates hedging/bearish positioning.
  2. Max pain ≈ 56,300 vs spot ≈ 57,371 (+1.90%). Near expiry, price tends to gravitate toward max pain.
  3. Session ΔOI: calls -4,820, puts +49,099. Fresh OI in the direction of the move implies trend conviction; against the move implies hedging.
  4. ATM (57,400): CE OI 4,998 vs PE OI 3,760, CE IV 21.0% / PE IV 21.0%.
  5. Cash index breadth: 13 up / 1 down (A/D ≈ 13.00).
Full option chain · 2026-04-28 · Lot 30
CALLS STRIKE PUTS
OIΔOIIVLTPChgDeltaTheta ThetaDeltaChgLTPIVΔOIOI
639-1432.14565.95+663.400.9706-12.2052,800-12.20-0.0294-45.5029.3532.1-1061,109
718-332.14118.95+322.800.9679-13.1052,900-13.10-0.0321-50.8532.4032.1-327748
10,377-9027.64383.30+767.300.9819-6.9753,000-6.97-0.0181-55.9030.8027.61,35625,908
536-231.34250.00+721.150.9645-13.9153,100-13.91-0.0355-54.7035.5031.3-209680
455-329.14195.00+725.000.9709-10.9653,200-10.96-0.0291-62.2537.8029.1-131781
493030.83976.00+176.000.9600-15.0753,300-15.07-0.0400-64.9540.0530.81301,121
363-930.73925.00+625.000.9566-16.0553,400-16.05-0.0434-70.6543.8530.7-1,088907
1,795-30430.33930.00+755.250.9541-16.6053,500-16.60-0.0459-73.0546.2530.31,73912,885
308-129.93840.00+770.000.9523-16.8653,600-16.86-0.0477-81.8047.6029.9-221,055
480-1829.73724.70+756.000.9486-17.7853,700-17.78-0.0514-86.3551.6029.7-171922
437-2026.33600.00+696.000.9629-12.1053,800-12.10-0.0371-94.1054.6026.32371,278
438-422.93485.00+675.500.9764-7.2553,900-7.25-0.0236-92.4558.1522.9-2681,119
11,627-33229.03439.80+682.850.9369-20.4154,000-20.41-0.0631-101.2564.0029.054228,104
447-1124.43300.00+688.500.9604-11.8554,100-11.85-0.0396-111.3068.0024.4-821,070
502-823.83200.00+590.000.9595-11.7654,200-11.76-0.0405-114.1574.4523.82391,459
569-6023.83105.00+642.700.9540-13.0554,300-13.05-0.0460-127.6077.2523.8-521,489
647-2921.82994.80+636.650.9626-10.0854,400-10.08-0.0374-130.3084.1021.81532,315
5,878-18127.42955.00+691.400.9149-24.2854,500-24.28-0.0851-136.3590.1027.41,32913,289
979-1327.52866.35+625.650.9064-26.1554,600-26.15-0.0936-140.1597.0027.59193,062
857-5521.02703.00+617.050.9511-12.0854,700-12.08-0.0489-160.70103.2021.01,4474,213
821-7523.92638.60+642.100.9198-20.2254,800-20.22-0.0802-165.50111.1023.92972,652
894-2325.22564.85+639.750.8999-25.1454,900-25.14-0.1001-169.95118.9525.2-901,879
14,660-1,38726.02488.00+591.550.8834-28.9355,000-28.93-0.1166-183.40125.1026.03,09531,270
696-3926.22405.00+589.850.8710-31.3555,100-31.35-0.1290-187.80138.5026.22071,960
783-3625.92313.65+591.350.8630-32.2755,200-32.27-0.1370-206.45147.0025.9-862,357
684-9525.72226.75+547.250.8535-33.5055,300-33.50-0.1465-214.70156.1525.792,009
827-9025.12130.40+564.050.8467-33.7855,400-33.78-0.1533-224.00166.7025.14862,940
4,445-1,07125.32050.00+546.900.8330-35.8955,500-35.89-0.1670-238.30180.7525.3-45413,387
1,968-17424.91960.00+582.600.8233-36.6655,600-36.66-0.1767-250.95192.4024.92502,948
2,350-9124.71876.40+543.900.8111-37.9355,700-37.93-0.1889-252.95206.5524.71215,471
1,342-17724.11782.20+511.600.8023-38.0455,800-38.04-0.1977-280.45222.1024.16313,369
1,504-10724.31715.15+500.150.7851-40.2855,900-40.28-0.2149-290.85239.5024.35742,848
10,806-1,82024.11628.55+483.200.7712-41.3756,000-41.37-0.2288-311.40257.5024.1-22418,793
1,478-12323.71544.55+465.800.7574-42.1856,100-42.18-0.2426-322.10274.4523.78193,160
1,375-25023.51464.10+458.700.7418-43.2256,200-43.22-0.2582-339.00295.8023.54602,991
1,526-31923.21382.40+416.100.7267-43.8056,300-43.80-0.2733-360.25317.6523.2-2443,036
1,622-62023.11317.20+407.050.7085-45.0556,400-45.05-0.2915-374.80341.2023.1-1,2413,078
13,842-4,60122.71231.00+390.200.6918-45.4756,500-45.47-0.3082-394.05365.2522.785418,832
2,405-2,32622.71165.25+365.600.6720-46.6056,600-46.60-0.3280-395.35394.0022.7-4813,843
2,365-1,86922.31086.05+334.250.6538-46.7556,700-46.75-0.3462-417.60421.7522.31823,931
4,228-1,30222.21018.55+330.250.6333-47.4056,800-47.40-0.3667-439.50453.0022.21,7155,739
1,830-1,32822.0953.00+310.250.6121-47.9156,900-47.91-0.3879-454.95485.0022.02,3814,431
21,940-4,04321.7885.20+289.000.5910-47.8457,000-47.84-0.4090-481.70514.8021.77,55027,299
2,459-65921.6825.20+277.700.5683-48.2957,100-48.29-0.4317-497.50558.0021.62,4903,297
6,1592,94321.4763.60+253.050.5455-48.1857,200-48.18-0.4545-512.40595.2521.44,9155,792
6,0163,18821.3708.75+239.450.5221-48.2357,300-48.23-0.4779-560.25640.0021.33,3515,519
4,9982,31621.0650.45+221.550.4983-47.7057,400-47.70-0.5017-580.70682.3521.03,4163,760
15,4221,95520.9598.00+202.450.4741-47.1757,500-47.17-0.5259-556.90728.3020.95,2309,952
3,44459620.5548.00+182.000.4492-46.1457,600-46.14-0.5508-617.10772.8020.5410747
2,48119620.6500.00+164.000.4253-45.7857,700-45.78-0.5747-612.50830.0020.6179291
3,80532720.3453.25+150.900.4004-44.6757,800-44.67-0.5996-678.50878.9520.389246
1,584-14320.3415.00+138.300.3768-43.8757,900-43.87-0.6232-598.35938.7020.3134206
20,816-87920.1372.95+123.000.3520-42.4058,000-42.40-0.6480-667.701010.9520.1126,787
1,92452820.1340.00+111.450.3294-41.3558,100-41.35-0.6706-703.101061.7520.168137
1,628-41720.0306.30+95.350.3063-39.9058,200-39.90-0.6937-737.601124.9020.031110
1,404-32019.9274.45+87.200.2837-38.2858,300-38.28-0.7163-616.201190.4019.9-1095
2,389-10819.7243.10+72.500.2609-36.3658,400-36.36-0.7391-1179.651268.5519.7-772
13,1901,52619.5218.00+65.050.2384-34.3058,500-34.30-0.7616-721.051345.0019.5-75924
2,362-43219.6193.65+53.900.2203-32.9558,600-32.95-0.7797-586.551462.3019.6162
2,98723119.5172.55+46.250.2016-31.2358,700-31.23-0.7984-290.351543.7019.5-432
3,345-16619.5153.85+39.350.1843-29.5558,800-29.55-0.8157-775.601547.7019.5-3316
2,281-5619.5136.05+33.550.1674-27.7458,900-27.74-0.8326-478.301661.7019.5-277
28,379-56419.1119.30+27.300.1473-25.0159,000-25.01-0.8527-790.251745.0019.1147,702
2,5486819.5107.85+23.150.1385-24.5459,100-24.54-0.8615-502.351904.9019.5115
1,985-1,30519.594.70+18.250.1248-22.7959,200-22.79-0.8752-563.251965.0019.5627
2,5071,14719.684.75+16.400.1135-21.4159,300-21.41-0.8865-722.202057.8019.6-149
1,53023719.775.20+11.600.1025-19.9659,400-19.96-0.8975+26.052796.0519.7033
13,71283317.766.45+10.450.0699-13.5159,500-13.51-0.9301-850.652174.3017.7-1041,230
1,673-11019.657.55+5.950.0820-16.9159,600-16.91-0.9180-198.452369.5519.61147
3,8252,28219.751.15+4.750.0740-15.7059,700-15.70-0.9260-43.503079.0019.7044
1,98540419.845.10+3.400.0663-14.4759,800-14.47-0.9337-744.002501.0019.8-377
2,095-13320.142.20+4.550.0618-13.9359,900-13.93-0.9382-273.103270.3020.1051
44,926-78920.036.00+1.050.0541-12.5060,000-12.50-0.9459-807.952672.3020.0-8469,647
2,278-2320.434.10+3.200.0509-12.1160,100-12.11-0.9491+0.003642.5020.4012
4,5102,87020.429.90+0.500.0453-11.0660,200-11.06-0.9547-464.052781.9520.4-179
1,29256020.727.85+2.400.0421-10.5760,300-10.57-0.9579-195.203657.8020.7020
7618620.724.20+1.100.0373-9.5760,400-9.57-0.9627-847.853190.0020.7044
7,6051,55720.922.05+0.400.0341-8.9860,500-8.98-0.9659-740.503154.3520.9-12545
527-4821.119.90-0.350.0309-8.3560,600-8.35-0.9691-373.403951.6021.1054
4633020.916.20-2.200.0260-7.1760,700-7.17-0.9740-850.004050.0020.9042
45717521.114.85-1.650.0239-6.7460,800-6.74-0.9761-128.953575.2521.1030
5164321.815.80+0.100.0245-7.1260,900-7.12-0.9755+407.304247.3021.8014
26,138-2,77421.114.45+0.850.0184-5.4261,000-5.42-0.9816-779.103642.3521.1-5624,487
70713422.012.45-0.750.0197-5.9761,100-5.97-0.9803-1220.503800.0022.0-145
5833622.512.50+0.950.0194-6.0261,200-6.02-0.9806-582.104544.3522.5048
1,1167722.29.85-1.650.0159-5.0061,300-5.00-0.9841-746.004046.0022.2050
1,23690922.28.55-1.950.0140-4.4961,400-4.49-0.9860-1149.054742.9022.2020
8,098-44722.58.20-0.850.0133-4.3661,500-4.36-0.9867-805.304160.3022.5-553746
4172623.08.25-0.800.0131-4.4061,600-4.40-0.9869-5486.004941.7523.0014
84536422.86.65-1.900.0109-3.7161,700-3.71-0.9891-237.755041.2522.808
463123.57.35-0.600.0116-4.0461,800-4.04-0.9884-459.205140.8023.5025
4267123.66.50-1.150.0103-3.6761,900-3.67-0.9897-671.055240.4523.6013
Recommended strategy
Bull Call Spread Bullish
BUY 57,400 CE @ 650.45
SELL 58,400 CE @ 243.10
Lot size30
Max profit₹17,780
Max loss₹-12,220
Breakeven(s)57,808
Buy 57,400 CE @ 650.45, Sell 58,400 CE @ 243.10. Net debit strategy that profits from a moderate upside move. Capped risk and reward.
P&L at expiry — interactive simulator
P&L curve Breakeven Buy / Max profit Sell / Max loss Spot price
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