23 October 2026
FRI 23 OCT 2026 · 15:40 IST
BANKNIFTY closed 0.07 percent over its gamma flip, in a positive-gamma regime.
All 3 fell below their opening print, stayed under it into the close, and shut inside ranges no wider than 1.78 percent.
Where each index closed
The bar is the sampled range. The dark notch is the first sample, the blue block is the close. The ladder below it shows where the close sat against the strikes that mattered.
| Max gamma strike + call wall 400.00 pts above | 23,000.00 | |
| CLOSE | 22,600.00 | |
| Gamma flip 72.75 pts below | 22,527.25 | |
| Put wall 100.00 pts below | 22,500.00 |
Opened 22,729.10 and spent the day below it, low to 22,374.00, before closing 22,600.00. It finished between the gamma flip at 22,527 and the max gamma strike + call wall at 23,000, 400.00 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +8,227 Cr
- ATM IV
- 14.53%
- Expiry
- 4.00 days to 2026-10-27
| Call wall 712.65 pts above | 55,000.00 | |
| CLOSE | 54,287.35 | |
| Gamma flip 38.01 pts below | 54,249.34 | |
| Max gamma strike + put wall 287.35 pts below | 54,000.00 |
Opened 54,848.05 and spent the day below it, low to 53,948.70, before closing 54,287.35. It finished between the gamma flip at 54,249 and the call wall at 55,000, 712.65 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +194 Cr
- ATM IV
- 15.69%
- Expiry
- 4.00 days to 2026-10-27
| Max gamma strike 876.17 pts above | 74,000.00 | |
| Call wall 376.17 pts above | 73,500.00 | |
| CLOSE | 73,123.83 | |
| Put wall 123.83 pts below | 73,000.00 | |
| Gamma flip 313.16 pts below | 72,810.67 |
Opened 73,577.83 and spent the day below it, low to 72,458.79, before closing 73,123.83. It finished between the put wall at 73,000 and the call wall at 73,500, 376.17 points under the nearer one above. Hedging dampens from here.
- Regime
- POSITIVE GAMMA
- Net GEX
- +1,319 Cr
- ATM IV
- 16.90%
- Expiry
- 6.00 days to 2026-10-29
Delta · which side is heavy
Calls to the right in gold, puts to the left in violet, all three on one shared scale. Net is what survives when they cancel.
Flows · the book against today
The first bar is every open contract that exists. The second is only what changed today. Opposite directions mean today pushed against the position rather than adding to it.
Look at the NIFTY pair in Flows. The standing book is short 17,689 Cr of delta while today’s flow was long 42,829 Cr, 242 percent of it, the other way.
How to read the ladders
- Call wall heaviest call open interest above spot
- Put wall heaviest put open interest below spot
- Gamma levels max gamma strike, zero gamma, the flip
- Close where it actually finished
What these numbers are
Open, high and low mean the first, highest and lowest of 635 samples taken between 09:16 and 15:39 IST, not the exchange’s official prints, and the close is the last price we sampled rather than the settlement price. GEX is normalised to five days and compares across days for one index, never between indices. Volume reads zero at every strike after the close, so no volume figure appears above.
The card posts with it. Long press to save the image, or use the button and X will attach it from the link.
NIFTY went into the close short 17,689 Cr of delta. Today's flow was long 42,829 Cr. 242 percent of the standing position, pointing the other way.