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 · 2026-04-28
CHAIN OKBias: upward drift (F&O + breadth)
Spot
24,036.50
Index chg
+0.58%
PCR (OI)
0.753
Max pain
24,050
Δ -0.06%
Breadth A/D
39 / 11
Confidence
Medium
Reasoning
  1. Put–call ratio (OI) = 0.753. Low PCR suggests crowded calls (mean-reversion risk); high PCR indicates hedging/bearish positioning.
  2. Max pain ≈ 24,050 vs spot ≈ 24,036 (-0.06%). Near expiry, price tends to gravitate toward max pain.
  3. Session ΔOI: calls +472,728, puts +585,405. Fresh OI in the direction of the move implies trend conviction; against the move implies hedging.
  4. ATM (24,050): CE OI 129,039 vs PE OI 89,880, CE IV 18.8% / PE IV 18.8%.
  5. Cash index breadth: 39 up / 11 down (A/D ≈ 3.55).
Full option chain · 2026-04-28 · Lot 65
CALLS STRIKE PUTS
OIΔOIIVLTPChgDeltaTheta ThetaDeltaChgLTPIVΔOIOI
120054.41903.80+191.700.9969-3.0722,150-3.07-0.0031-0.700.7054.4-1251,821
895-9152.61848.00+121.500.9970-2.8722,200-2.87-0.0030-0.700.7052.6-2,17611,365
395052.11764.05+105.450.9965-3.2322,250-3.23-0.0035-0.700.7552.1-683,272
2,164-1650.31719.75+90.350.9966-3.0322,300-3.03-0.0034-0.800.7050.3-6,49112,741
202-549.31700.00+188.250.9963-3.2022,350-3.20-0.0037-0.800.7549.35882,889
4,759048.01650.00+117.550.9962-3.1922,400-3.19-0.0038-0.850.7548.0-4,46516,243
250-1246.61611.55+97.550.9961-3.1722,450-3.17-0.0039-1.000.7546.6-804,519
17,134-34245.61551.30+124.900.9958-3.3322,500-3.33-0.0042-1.100.8045.6-16,42976,349
526-3544.21510.30+143.550.9957-3.3122,550-3.31-0.0043-1.200.8544.21,1745,434
1,803-2043.11458.25+130.350.9953-3.4622,600-3.46-0.0047-1.350.8043.1-6,88223,268
980-541.81381.90+121.900.9952-3.4422,650-3.44-0.0048-1.600.8541.8-2276,133
5,231-6340.41350.00+120.750.9951-3.4222,700-3.42-0.0049-1.950.8540.4-13,19326,078
1,971-1039.21297.85+124.950.9946-3.5722,750-3.57-0.0054-2.200.9039.2-1,8268,394
5,630-880.01248.00+123.351.00000.0022,8000.000.0000-2.501.000.0-12,31848,206
4,546-2636.71191.75+89.300.9940-3.6822,850-3.68-0.0060-3.051.0036.7-7614,209
2,783-14335.71152.70+135.700.9933-3.9722,900-3.97-0.0067-3.601.1035.7-2,68337,496
516034.51081.05+88.100.9928-4.0922,950-4.09-0.0072-4.451.1534.515814,458
23,968-1,49833.71051.75+133.200.9914-4.6623,000-4.66-0.0086-5.101.3533.712,866176,660
2,864-232.61000.10+110.300.9905-4.9023,050-4.90-0.0095-6.301.4532.62,31615,221
3,365-20231.4952.10+123.500.9896-5.1423,100-5.14-0.0104-7.601.5531.412,19457,629
549430.5876.90+104.000.9877-5.7623,150-5.76-0.0123-9.401.7530.51,31720,769
2,461-13029.4851.15+110.200.9863-6.0923,200-6.09-0.0137-11.251.9529.4-10,50871,859
552428.4786.90+105.850.9839-6.7723,250-6.77-0.0161-14.002.2028.4-8,68320,034
3,009-1827.5760.30+114.500.9808-7.6323,300-7.63-0.0192-17.052.6027.5-5,65354,362
464-426.5714.00+121.600.9777-8.3023,350-8.30-0.0223-20.953.0526.52,72622,127
2,123-14225.2651.25+101.650.9747-8.8223,400-8.82-0.0253-25.753.6025.22,47153,726
3,277-1924.7603.40+95.750.9670-10.7623,450-10.76-0.0330-31.154.4024.78,10527,438
18,244-61923.9548.50+86.800.9592-12.3723,500-12.37-0.0408-37.355.4523.936,514130,794
2,8896923.1500.50+79.000.9489-14.3423,550-14.34-0.0511-44.706.8523.122,01139,815
3,969-66022.4452.25+70.200.9348-16.8923,600-16.89-0.0652-52.758.9522.419,88273,368
1,041-24721.8405.30+63.950.9162-19.8923,650-19.89-0.0838-62.6511.5521.814,68931,792
6,221-1,43421.2358.65+52.000.8925-23.2423,700-23.24-0.1075-72.1015.4521.223,96776,501
2,827-27220.6313.55+41.750.8633-26.6523,750-26.65-0.1367-82.5020.4020.627,92951,501
19,591-3,00519.9269.70+30.450.8268-30.1723,800-30.17-0.1732-94.5027.2519.954,962121,512
9,827-4,08419.8228.40+19.500.7750-35.1723,850-35.17-0.2250-106.3536.3519.847,24364,105
48,111-16,41319.4190.60+7.700.7182-38.7523,900-38.75-0.2818-117.0548.1519.465,587148,743
34,6953,81319.2155.65-2.750.6509-42.0223,950-42.02-0.3491-126.0563.0019.258,91381,873
203,83672,13119.0124.80-10.950.5770-44.0524,000-44.05-0.4230-135.0081.7519.0149,038244,916
129,039105,89418.897.55-19.650.4989-44.4024,050-44.40-0.5011-141.45104.9018.879,08189,880
235,301159,18718.875.05-24.150.4202-43.4924,100-43.49-0.5798-145.80132.6518.864,03395,733
107,67460,33318.856.65-27.050.3447-40.9624,150-40.96-0.6553-149.10164.1518.814,17222,337
190,36653,72118.942.00-28.500.2761-37.3524,200-37.35-0.7239-151.10199.7518.97,69052,187
79,24239,85719.131.05-28.450.2168-33.1424,250-33.14-0.7832-148.80238.3519.12,13210,254
184,37288,80719.422.75-27.550.1685-28.8824,300-28.88-0.8315-147.10280.6519.4-71227,396
59,14725,78819.817.05-25.700.1303-24.8724,350-24.87-0.8697-144.95323.4519.8-1,6264,442
124,65314,10820.412.90-23.600.1015-21.4324,400-21.43-0.8985-140.40370.0020.4-3,49124,967
63,96122,20121.09.90-20.850.0793-18.3824,450-18.38-0.9207-141.70415.9021.0-1,4957,465
203,45024,85521.87.75-18.450.0628-15.9024,500-15.90-0.9372-139.40465.0021.8-5,02935,504
55,76118,35120.66.10-16.000.0359-9.5824,550-9.58-0.9641-130.20512.4020.6-1,1996,913
121,83932,28518.34.90-14.150.0129-3.6124,600-3.61-0.9871-134.15560.0018.3-1,5229,598
47,95714,90824.24.15-12.100.0335-10.6824,650-10.68-0.9665-131.30608.7524.2-2881,193
93,804-7,81619.53.55-10.250.0070-2.2724,700-2.27-0.9930-135.55652.6019.5-1,2235,647
42,823-3,55926.03.05-9.000.0235-8.5324,750-8.53-0.9765-140.20695.0026.0-76715
99,735-6,67325.82.70-7.700.0163-6.2024,800-6.20-0.9837-132.85754.0025.8-9737,569
39,85213,87128.02.40-6.800.0178-7.2624,850-7.26-0.9822-128.60806.3028.0-23588
81,7322,41327.32.10-6.000.0112-4.7624,900-4.76-0.9888-124.45853.4027.3472,115
32,3288,68829.91.90-5.050.0136-6.1624,950-6.16-0.9864-117.85908.4029.9-15420
213,114-23,31030.81.70-4.550.0120-5.6925,000-5.69-0.9880-117.55961.4030.8-4,94421,619
23,344-4431.81.55-3.850.0107-5.3325,050-5.33-0.9893-76.801039.1031.80268
78,37121,28432.61.40-3.350.0093-4.8125,100-4.81-0.9907-137.001041.4032.6-64632
24,455-6,61833.61.30-2.750.0084-4.5525,150-4.55-0.9916-135.251079.0033.61173
99,519-17,17534.31.15-2.350.0073-4.1325,200-4.13-0.9927-125.251145.0034.3-2301,713
17,034335.41.10-2.050.0068-4.0025,250-4.00-0.9932-144.451245.0035.4-4220
56,307-12,25036.30.95-1.850.0061-3.7125,300-3.71-0.9939-118.101255.4536.3-60636
13,684-6,08237.50.95-1.500.0059-3.7325,350-3.73-0.9941+89.301280.0037.5070
31,262-14,61638.30.85-1.350.0053-3.4325,400-3.43-0.9947-114.301362.5038.3-55704
9,311-1,18939.70.90-1.150.0054-3.6125,450-3.61-0.9946-134.951364.0539.71123
106,153-59,84740.40.75-1.150.0047-3.2925,500-3.29-0.9953-134.801445.8540.4-2,0289,923
9,013-1,31941.40.75-0.900.0044-3.1425,550-3.14-0.9956-110.001470.0041.4093
35,409-15,08141.60.60-0.800.0035-2.6125,600-2.61-0.9965-135.601551.3541.6-30593
7,262-1,71242.70.60-0.800.0035-2.6325,650-2.63-0.9965+192.301607.3042.7-1111
44,851-5,09643.10.50-0.650.0029-2.2625,700-2.26-0.9971-138.551639.1043.1-150358
16,231-27944.20.50-0.550.0028-2.2725,750-2.27-0.9972-70.001750.0044.2-918
24,251-17,41345.40.50-0.600.0028-2.2825,800-2.28-0.9972-147.101740.0045.4-93826
13,269-10146.00.45-0.500.0025-2.1025,850-2.10-0.9975+40.651935.6546.0029
25,572-8,25747.10.45-0.400.0024-2.1025,900-2.10-0.9976-143.851854.8047.1-20202
8,066-1,16448.20.45-0.450.0024-2.1125,950-2.11-0.9976-108.251937.3048.2034
Recommended strategy
Bull Call Spread Bullish
BUY 24,050 CE @ 97.55
SELL 24,150 CE @ 56.65
Lot size65
Max profit₹3,842
Max loss₹-2,658
Breakeven(s)24,091
Buy 24,050 CE @ 97.55, Sell 24,150 CE @ 56.65. 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
NIFTY BANK
BANKNIFTY · 2026-04-28
CHAIN OKNeutral / two-sided (mixed signals)
Spot
56,054.15
Index chg
-0.06%
PCR (OI)
0.812
Max pain
56,000
Δ +0.10%
Breadth A/D
8 / 6
Confidence
Medium
Reasoning
  1. Put–call ratio (OI) = 0.812. Low PCR suggests crowded calls (mean-reversion risk); high PCR indicates hedging/bearish positioning.
  2. Max pain ≈ 56,000 vs spot ≈ 56,054 (+0.10%). Near expiry, price tends to gravitate toward max pain.
  3. Session ΔOI: calls +146,223, puts +64,361. Fresh OI in the direction of the move implies trend conviction; against the move implies hedging.
  4. ATM (56,100): CE OI 17,132 vs PE OI 12,162, CE IV 23.0% / PE IV 23.0%.
  5. Cash index breadth: 8 up / 6 down (A/D ≈ 1.33).
Full option chain · 2026-04-28 · Lot 30
CALLS STRIKE PUTS
OIΔOIIVLTPChgDeltaTheta ThetaDeltaChgLTPIVΔOIOI
684-456.74475.00-136.800.9959-9.4151,600-9.41-0.0041-5.502.2556.7-1201,351
708055.04400.00+180.700.9962-8.6751,700-8.67-0.0038-6.302.0555.0-15909
652-253.84300.00-2.650.9961-8.6451,800-8.64-0.0039-6.602.0553.8181,050
375-252.84200.00-90.000.9959-8.7851,900-8.78-0.0041-6.752.1052.8-150662
7,987-21051.64099.95-81.750.9958-8.7452,000-8.74-0.0042-7.102.1051.6-5,31621,834
468050.44150.00+0.000.9957-8.7152,100-8.71-0.0043-7.852.1050.4-2191,673
430-349.53775.00+25.000.9955-9.0252,200-9.02-0.0045-8.002.2049.5-168707
735-943.43766.20-234.650.9981-3.6152,300-3.61-0.0019-8.452.1543.4-301,855
567046.83669.50-155.500.9954-8.6052,400-8.60-0.0046-8.902.1046.81,4502,361
3,310-8946.13581.10-115.900.9950-9.2352,500-9.23-0.0050-9.602.3046.1-3,39110,659
761-145.53465.00+65.000.9943-10.1852,600-10.18-0.0057-10.452.6045.5-218929
1,815-244.63360.00-162.850.9939-10.6152,700-10.61-0.0061-10.952.7544.6-1502,262
632043.83275.00+175.000.9934-11.1852,800-11.18-0.0066-11.602.9543.8-2961,824
663142.73100.00-246.700.9930-11.4352,900-11.43-0.0070-12.353.0542.781837
6,798-24841.73075.00-83.350.9926-11.8353,000-11.83-0.0074-12.953.2041.74,56123,449
522040.82948.00-156.450.9920-12.3653,100-12.36-0.0080-16.053.4040.8-608900
443-739.92900.00-600.000.9912-13.1753,200-13.17-0.0088-15.403.7039.9-6221,734
468-1038.62730.00-100.000.9910-12.9453,300-12.94-0.0090-16.903.6538.61083,121
348-437.92775.00-125.000.9898-14.1353,400-14.13-0.0102-17.904.1037.9-1,6561,161
1,452-5637.12580.00-144.450.9887-15.1353,500-15.13-0.0113-19.354.5037.11,31216,284
271-536.32500.00-3.200.9873-16.4853,600-16.48-0.0127-21.555.0536.3-1212,404
461035.52302.00-257.400.9858-17.7753,700-17.77-0.0142-23.705.6035.5-4173,985
350-734.62312.50-135.050.9844-18.7453,800-18.74-0.0156-25.156.0534.6-983,249
398033.82150.00+123.800.9824-20.2653,900-20.26-0.0176-27.856.7533.8-1792,854
8,705-42333.02076.70-156.650.9800-22.0454,000-22.04-0.0200-31.357.5533.0-26827,665
403-626.11967.30-82.700.9931-6.9654,100-6.96-0.0069-34.758.3526.1-2372,140
440-531.21850.00-200.000.9748-25.3854,200-25.38-0.0252-38.659.3531.21,6265,247
512030.61706.40-229.600.9707-28.1554,300-28.15-0.0293-42.7010.9530.61,0613,825
612-129.91770.00-81.750.9656-31.4654,400-31.46-0.0344-46.9012.8029.9-1633,256
4,562-16827.01575.00-189.150.9708-24.8254,500-24.82-0.0292-52.8515.0027.03,10720,676
1,09327628.71529.35-201.700.9525-39.1554,600-39.15-0.0475-57.2517.8528.71,1534,859
786328.11353.40-287.250.9436-44.0254,700-44.02-0.0564-64.8021.3528.16025,045
700-1427.51308.50-203.300.9331-49.2554,800-49.25-0.0669-69.5025.7027.51,1805,440
686-1726.91208.05-150.650.9207-54.8654,900-54.86-0.0793-79.0030.3026.91,2234,033
9,949-1,25326.51101.75-201.450.9044-62.2055,000-62.20-0.0956-81.4538.0026.56,27430,437
567-2726.11025.00-223.500.8856-69.6955,100-69.69-0.1144-89.7046.1026.11,5154,015
665-4225.5920.00-230.950.8650-76.4555,200-76.45-0.1350-95.5555.6525.53,9027,317
453-6524.8829.95-220.600.8421-82.6055,300-82.60-0.1579-101.5568.3024.83,4695,911
755-8124.7748.00-224.750.8093-92.7755,400-92.77-0.1907-109.1083.6524.73,0947,830
4,51510724.4665.25-235.800.7745-101.1055,500-101.10-0.2255-115.50101.2524.48,45121,410
1,857-10724.1587.10-236.400.7353-108.8055,600-108.80-0.2647-121.45123.3024.13,3666,714
2,013-9523.8516.90-225.250.6915-115.7455,700-115.74-0.3085-125.25148.7523.84,8108,381
2,62379523.6443.05-246.300.6438-121.2655,800-121.26-0.3562-124.75179.9523.65,66810,617
3,6011,38823.1378.90-247.900.5933-123.8455,900-123.84-0.4067-126.65215.3523.16,15010,636
27,8999,94923.1318.00-245.800.5388-126.4856,000-126.48-0.4612-125.10256.6023.110,96532,887
17,13212,74423.0265.00-243.950.4833-126.3256,100-126.32-0.5167-119.80304.0523.07,41212,162
19,68312,84522.8219.55-239.050.4275-123.4156,200-123.41-0.5725-111.75358.0022.85,71211,518
24,26015,97322.7179.60-232.750.3731-118.8256,300-118.82-0.6269-99.80417.3522.74,3027,957
18,01913,47522.4146.95-214.800.3184-110.1156,400-110.11-0.6816-84.40485.0022.41,9445,923
37,72315,37922.7118.35-201.400.2727-104.1956,500-104.19-0.7273-72.95557.9522.72,34916,791
12,3006,62622.995.50-187.700.2301-96.0256,600-96.02-0.7699-49.80636.8522.92972,531
12,7875,52422.876.20-174.850.1895-85.4056,700-85.40-0.8105-46.50708.3522.83732,598
15,9466,89123.361.45-158.050.1589-77.7756,800-77.77-0.8411-29.00802.3523.35035,726
7,5321,89823.749.55-139.300.1328-70.2756,900-70.27-0.8672-25.55883.7023.7-442,332
37,72010,57924.440.90-126.450.1126-64.3257,000-64.32-0.8874-0.90981.7024.4-1,26218,867
7,7672,14124.233.50-112.350.0880-53.2757,100-53.27-0.9120+13.101065.0024.2-1431,937
9,1641,65125.227.60-100.500.0777-50.6257,200-50.62-0.9223+31.451162.4025.21032,386
11,7034,04026.023.15-87.400.0666-46.2857,300-46.28-0.9334+9.451217.1526.0-1642,805
8,88281421.619.90-78.050.0253-17.5457,400-17.54-0.9747+48.051340.9521.6-632,848
25,7784,79727.316.85-69.000.0485-37.8657,500-37.86-0.9515+45.501404.8027.3-2,2623,636
6,7421,80827.914.45-59.900.0414-34.0557,600-34.05-0.9586+80.451550.0027.9-252,677
5,03864028.712.65-53.000.0365-31.7057,700-31.70-0.9635+62.501646.0028.7-1276
7,0921,40829.411.15-46.700.0319-29.0357,800-29.03-0.9681+110.951749.3029.4-11239
7,1023,43130.19.80-41.350.0279-26.6557,900-26.65-0.9721+103.551801.8530.1-8293
36,0897,31931.09.05-35.850.0251-25.0558,000-25.05-0.9749+106.501946.6531.0-6593,871
4,72417431.78.10-31.400.0221-23.1158,100-23.11-0.9779+19.101982.3031.7-10102
5,6821,20132.57.30-27.550.0198-21.5058,200-21.50-0.9802+210.202112.9532.5-2100
5,308-26933.36.65-24.700.0178-20.1558,300-20.15-0.9822+0.002117.3533.3072
3,30216834.16.05-22.500.0162-19.1058,400-19.10-0.9838-247.452292.2534.1065
21,4855,01334.95.50-18.650.0145-17.7458,500-17.74-0.9855+94.402425.0034.9-34602
3,786-42535.85.20-17.500.0135-17.1058,600-17.10-0.9865-114.052485.9535.8053
3,716-29036.64.90-14.850.0124-16.2958,700-16.29-0.9876-325.502389.5036.6-316
4,39013937.54.65-13.050.0116-15.7258,800-15.72-0.9884-78.002512.0037.50309
3,77699938.34.25-11.300.0105-14.7158,900-14.71-0.9895-80.352779.7538.3075
36,9854,78039.24.00-9.700.0099-14.2459,000-14.24-0.9901+123.352930.2039.2-195,026
2,644-4540.03.85-8.950.0091-13.6059,100-13.60-0.9909+1020.852885.9040.0014
2,481-45940.83.55-7.550.0085-12.9359,200-12.93-0.9915+1081.203076.2540.8019
2,01547041.93.55-7.050.0082-13.0159,300-13.01-0.9918-480.002940.0041.9048
1,61827142.63.30-5.950.0076-12.3159,400-12.31-0.9924+1209.403274.7542.6031
17,8572,03143.12.90-5.050.0068-11.2859,500-11.28-0.9932+239.403518.0043.1-43982
1,8859744.12.90-4.650.0065-11.1859,600-11.18-0.9935+1151.853473.8044.10146
1,799-49245.12.85-3.900.0063-11.0759,700-11.07-0.9937+173.403573.4045.1043
1,915-13446.02.75-3.550.0061-10.9659,800-10.96-0.9939+269.303819.3046.0076
1,3983946.82.65-3.100.0057-10.5259,900-10.52-0.9943+256.653772.8546.8044
39,120-1,97147.42.40-3.000.0053-9.8960,000-9.89-0.9947+95.253950.0047.4-1,4787,133
1,05015148.52.45-2.100.0052-9.9460,100-9.94-0.9948+329.953972.4548.5012
897248.82.15-2.350.0045-8.9460,200-8.94-0.9955+290.004220.0048.8-1170
2,24897350.02.25-1.750.0046-9.3360,300-9.33-0.9954+319.204172.2050.0020
6318450.72.10-1.650.0043-8.8460,400-8.84-0.9957-164.254272.0550.7044
11,138-1,47150.41.70-1.600.0035-7.2460,500-7.24-0.9965+100.954410.0050.4-26380
Recommended strategy
Long Straddle Neutral (expects big move)
BUY 56,100 CE @ 265.00
BUY 56,100 PE @ 304.05
Lot size30
Max profit₹-2,072
Max loss₹-17,072
Breakeven(s)
Buy 56,100 CE @ 265.00 + Buy 56,100 PE @ 304.05. Net debit strategy that profits from a large move in either direction. Low IV makes the entry cheaper.
P&L at expiry — interactive simulator
P&L curve Breakeven Buy / Max profit Sell / Max loss Spot price
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