Narration: AI voice.
Two numbers
Nifty closed at 22,997.35. The call wall: 23,000. Read those two again. Exchange end-of-day data, Oct 15, 2026.
The setup
Expiry is Monday, 19 Oct 2026. Nifty weeklies expire Tuesday, but Tuesday the twentieth is Dussehra, a trading holiday, so the contract expires the trading day before. The prior session, 14 Oct 2026: close 22,622.7, call wall 22,700, put wall 22,500. Now: put wall 22,700. Gamma flip 23,050, and the close sat below it. Max pain 22,900. Not a forecast.
What moved
What moved. Nearest-expiry put/call ratio: 0.85 to 1.66 in one session. Biggest put additions at 22,900, 22,700 and 22,500. Biggest call unwinds at 22,700, 22,800 and 23,000. Open interest does not say who is long and who is short at a strike. The page calls the ratio positioning at the close, not a signal.
The catch
Here's the catch. Across all open expiries, the most call open interest sits at 24,000, not at the call wall. The most put open interest, at 22,000. Walls are ranked by gamma, not raw open interest. And gamma near the money grows sharply as expiry gets close.
Wrap
End of day: the exchange file is read once, after the 15:30 close. Nothing updates during the session. Dated, not a forecast. How Nifty gamma is built, and the assumption under it, is on the learn page below. Educational only.
Full write-up with sources: /learn/gamma-exposure-nifty-explained
Educational content, not investment advice.
Levels shown are as captured on 2026-10-16 01:46 ET; they are not current.