Nearest resistance
23,500
+1.55% · 5 confirmations
Nifty 50 — Expiry Support & Resistance Zones
Strong zones derived from options open interest across 5 expiries, cross-validated against price action. A level is only called strong when the OI wall and an independent price level agree.
Spot 23,141 · as of 2026-09-27 20:55 IST · source DhanHQ v2 (dhanhq.co/docs/v2/)
Informational only
Levels, scenarios and probabilities only. Not trade advice, and not a recommendation to buy or sell any strike — per SEBI Investment Advisers Regulations 2013 / Research Analysts Regulations 2014.
Nearest support
22,000
−4.93% · 3 confirmations
Strong zones
7
3 resistance · 4 support
Expiries analysed
5
nearest 22,000 → far 25,000 max pain
52-week high
26,373
set 2026-01-05
52-week low
22,183
set 2026-04-02
DMA 20 / 50
23,553 / 23,994
spot below both
Price-action lookback
246
2025-09-29 → 2026-09-25
Resistance — overhead ladder
Strongest ceiling first. Each row lists every independent reason the level exists; the confirm count is how many of those agreed.
| Zone | Distance | Expiries | Confirms | Evidence |
|---|---|---|---|---|
| 24,500 | +5.87% | 2 | 5 |
|
| 24,000 | +3.71% | 3 | 5 |
|
| 23,500 | +1.55% | 3 | 5 |
|
Support — underlying ladder
Nearest floor first. Support sitting below spot is where put writers have positioned; a level tagged unwinding is losing that positioning.
| Zone | Distance | Expiries | Confirms | Evidence |
|---|---|---|---|---|
| 22,000 | −4.93% | 2 | 3 |
|
| 22,500 | −2.77% | 1 | 2 |
|
| 23,000 | −0.61% | 3 | 3 |
|
| 23,100 | −0.18% | 1 | 3 |
|
Unconfirmed — single source
These carry an OI wall but no second independent reason to exist, so they are listed rather than trusted.
| Zone | Side | Distance | Evidence |
|---|---|---|---|
| 25,000 | resistance | +8.04% |
|
Aggregated Open Interest Ladder
Call and put open interest summed across every analysed expiry, plotted ±6% around spot (23,141). Solid bars sit on the live side of the market — call OI above spot is overhead supply, put OI below spot is underlying support — while faded bars are the decaying far side. The vertical axis is logarithmic: a single front-month wall can carry 15 million contracts next to far strikes holding a few hundred, and a linear axis would flatten every readable strike to nothing.
Zone Distance from Spot
Every confirmed zone plotted by distance from spot, resistance above and support below. Bar length is the percentage move required to reach the level.
Implied Volatility Term Structure
ATM implied volatility by expiry. Contango means the market is pricing genuine event risk further out; backwardation means near-term risk is expected to settle.
Put-Call Ratio by Expiry
Total put OI divided by total call OI per expiry. Above 1.2 leans put-heavy, below 0.7 call-heavy, in between neutral.
Per-expiry detail
2026-09-29· DTE 1
ATM 23,150 · ATM IV 12.78% · total OI 41.99 Cr · PCR 0.9213 (neutral range-bound) · max pain 23,250 · straddle 23,031–23,227
Call OI — resistance
24,000 — 1.58 Cr contracts · 2.56× p90 · 7.25% of side · unwinding 35.66 L
23,500 — 1.46 Cr contracts · 2.36× p90 · 6.69% of side · building 10.52 L
24,500 — 1.07 Cr contracts · 1.73× p90 · 4.91% of side · unwinding 19.60 L
Put OI — support
23,000 — 1.46 Cr contracts · 3.01× p90 · 7.25% of side · building 28.50 L
22,000 — 1.31 Cr contracts · 2.7× p90 · 6.5% of side · building 9.49 L
23,100 — 1.15 Cr contracts · 2.36× p90 · 5.69% of side · building 38.67 L
2026-10-27· DTE 29
ATM 23,150 · ATM IV 11.49% · total OI 8.66 Cr · PCR 1.0898 (neutral range-bound) · max pain 23,500 · straddle 22,780–23,408
Call OI — resistance
23,500 — 61.85 L contracts · 5.95× p90 · 14.92% of side · building 5.41 L
24,000 — 52.41 L contracts · 5.04× p90 · 12.64% of side · building 8.00 L
24,500 — 27.38 L contracts · 2.64× p90 · 6.6% of side · building 2.59 L
Put OI — support
23,500 — 59.95 L contracts · 5.37× p90 · 13.27% of side · building 1.98 L
23,000 — 47.90 L contracts · 4.29× p90 · 10.6% of side · building 3.28 L
22,500 — 32.70 L contracts · 2.93× p90 · 7.24% of side · building 2.12 L
2026-11-23· DTE 56
ATM 23,150 · ATM IV 11.33% · total OI 1.25 Cr · PCR 0.9393 (neutral range-bound) · max pain 23,500 · straddle 22,609–23,481
Call OI — resistance
25,000 — 9.66 L contracts · 4.42× p90 · 15.04% of side · building 79.3K
24,000 — 8.45 L contracts · 3.86× p90 · 13.16% of side · building 54.3K
23,500 — 7.18 L contracts · 3.28× p90 · 11.18% of side · building 29.7K
Put OI — support
23,000 — 9.04 L contracts · 4.09× p90 · 14.99% of side · building 31.4K
22,000 — 7.31 L contracts · 3.31× p90 · 12.11% of side · building 1.51 L
23,500 — 6.46 L contracts · 2.92× p90 · 10.71% of side · building 59.9K
2026-12-29· DTE 92
ATM 23,000 · ATM IV 11.1% · total OI 4.00 Cr · PCR 1.2332 (oversold — put-heavy, support bias) · max pain 25,000 · straddle 22,149–23,337
Call OI — resistance
No qualifying wall.
Put OI — support
No qualifying wall.
2027-12-28· DTE 456
ATM 23,000 · ATM IV 8.59% · total OI 17.02 L · PCR 1.507 (oversold — put-heavy, support bias) · max pain 25,000 · straddle 23,000–23,611
Call OI — resistance
No qualifying wall.
Put OI — support
No qualifying wall.
Confluence summary
The most heavily evidenced ceiling is **24,500** (+5.87% away), backed by 5 independent confirmations across 2 expiry series. The mirror floor is **22,000** (-4.93%), 3 confirmations across 2 expiries. ATM IV falls into the long-dated contracts (backwardation), the market expects the current volatility regime to decay.
IV read: Backwardation — ATM IV decays from 12.78% to 8.59% across the curve. The market expects near-term event risk to be front-loaded and to settle after.
Price-action levels (backward-looking leg)
- 52-week high 26,373 (2026-01-05) · low 22,183 (2026-04-02)
- DMAs — 20: 23,553 · 50: 23,994 · 100: 23,913 · 200: 24,417
- Swing pivots by touch count — 23,809 (6×, high/low) · 25,882 (4×, high/low) · 23,489 (3×, high/low) · 24,367 (3×, high) · 24,531 (3×, high/low) · 25,473 (3×, high/low) · 25,718 (3×, low) · 23,093 (2×, low)
Data-integrity notes
These caveats travel with the data. They are surfaced rather than quietly corrected.
- **No historical option chain exists at DhanHQ.** `/optionchain` is real-time only, so the OI leg of this analysis is a single dated snapshot taken 20:55 IST and can only be accumulated forward. The price-action leg is fully retroactive. No claim here about where OI *was* in past months is made or implied.
- **Dhan states OI updates more slowly than LTP** for the option chain API. An intraday snapshot can therefore mix fresh premiums with lagged open interest; the two may not be simultaneous to the second.
- **Long-dated legs are structurally thin.** Far expiries carry far lower absolute OI than the front monthlies because of the time value in those contracts — low OI there is a structural feature, NOT weak conviction, and is not graded as such. Chains below 5.00 L total contracts are additionally tagged *thin* and their walls carry less weight.
- **Dhan's expiry list mixes monthly, quarterly and far-monthly contracts.** A month with only one expiry is normally a quarterly. `is_monthly` flags this and the per-expiry blocks are labelled, but a quarterly expiry can still appear in a seasonal slot if the exchange lists no true monthly there.
- **The chain includes deep listed wings, not just near-ATM strikes.** Wall detection keeps only strikes within ±25% of spot; deeper wings are dropped from the median so a far-OTM strike cannot masquerade as a wall.
- **OI is reported in contracts, not lots or lakh shares.** The repo's daily report uses lakh shares; mixing the two silently is a known error mode, so all figures here are raw contracts straight from the exchange feed.
- **Price-action lookback is 246 sessions** (2025-09-29 → 2026-09-25), a 3-bar fractal pivot with pivots clustered within 100 points. Levels outside ±12% of spot are dropped; the 52-week high/low is always printed separately even when outside that band.
Sources
Every figure on this page is produced by scripts/dhan-expiry-zones.py and stored under data/dhan-expiry-zones/. Nothing is recomputed in the browser.
GET /v2/profilePOST /v2/optionchain/expirylistPOST /v2/optionchain (one snapshot per expiry, 1 req/3s limit)POST /v2/charts/historical (daily candles, price-action leg)https://images.dhan.co/api-data/api-scrip-master-detailed.csv (scrip resolution)- DhanHQ API v2 documentation
Dhan security id 13, segment IDX_I. Snapshot accumulated 5 chains for forward wall-migration tracking.