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BANKNIFTY

sidewaysWeekly · close of Fri 18 Sep 2026
NIFTYBANKNIFTYSENSEX
DailyWeeklyMonthlyHourly15-min
close
56,359
55,795 – 56,996
change
+0.54%
trend
sideways
sideways
inside a range, neither side taken
momentum
mixed
normal range
1,535
one bar, on average
nearest above
57,158
about half a normal week's range away
nearest below
56,156
right at the level

Price, with every level the desk knows

Fri 18 Sep 2026
put wall 54,000low 56,024 ×3high 56,099 ×3high 56,156 ×30.786 56,5000.618 56,8730.5 57,136low 57,158 ×10.382 57,398high 57,456 ×3high 57,628 ×2call wall 58,000break up through 57,456break down through 57,783break down through 58,713break up through 60,114break up through 58,578break up through 55,835break down through 54,906break up through 56,099break up through 52,064break up through 50,642break down through 49,787break up through 52,578break down through 50,194break up through 53,358double top confirmeddouble bottom confirmeddouble top confirmeddouble top confirmeddouble top confirmeddouble bottom confirmeddouble top confirmeddouble bottom confirmeddouble top confirmeddouble top confirmed56,359 close2 Aug20 Dec9 May26 Sep6 Feb25 Jun120 weeks

Dashed grey: reference levels · dotted violet: the heaviest option strikes · dotted amber: ratio levels · shaded band: the range · triangles: a recorded break or formation.

For NIFTYnearest reference above at 57,158, about half a normal week's range away; nearest reference below at 56,156, right at the level; past reference zones have not marked reversals better than chancesideways
the range
55,699 – 58,597
tightwide
a quieter stretch than usual
compression rule: a move up out of the range
the swing
pullback
the last swing was up; a pullback is in progress
the session
ordinary
in transition
an ordinary session
How far it has tended to travel

Measured reach

waytypicalone in fourone in tenin points
up1.01×1.75×2.39×1,557
down0.88×1.40×2.04×1,356

over the next few weeks, the typical move has been about 1.0× a normal week's range; one in ten went beyond 2.4× — from 156 past periods.

The option chain and the hedge

Fri 18 Sep 2026
heaviest call strike
58,000
about one normal week's range away
heaviest put strike
54,000
about two normal weekly ranges away
puts to calls (OI)
0.97
puts to calls (volume)
0.91
put OI change
+8,93,100
call OI change
−10,86,030
puts read
put writing
calls read
call unwind
foreign investors
net short the index
their futures net
−2,88,428
For NIFTYheaviest call strike 58,000; heaviest put strike 54,000; the call wall has held sideways
The numbers behind the chart

Reference levels

CSV
sidepricetouchesdistance
above57,1581about half a normal week's range away
above57,4563about one normal week's range away
above57,6282about one normal week's range away
below56,1563right at the level
below56,0993about half a normal week's range away
below56,0243about half a normal week's range away

Ratio levels

ratiopricekindreached
0.38257,398pullbackyes
0.557,136pullbackyes
0.61856,873pullbackyes
0.78656,500pullbackyes
1.27258,853extensionnot yet
1.41459,169extensionnot yet
1.61859,623extensionnot yet
260,472extensionnot yet

Momentum

20-bar average
56,954
50-bar average
56,526
200-bar average
50,501
oscillator (RSI 14)
47.0
trend gauge (ADX 14)
11.8
For NIFTYmomentum reads mixedsideways

Recent range breaks

datewaylevelclosewhat followed
19 Junup57,45657,686stayed beyond 5 sessions
13 Mardown57,78353,758still beyond after 10 sessions
23 Jandown58,71358,473still beyond after 10 sessions
2 Janup60,11460,151stayed beyond 5 sessions
21 Novup58,57858,868still beyond after 10 sessions
10 Octup55,83556,610still beyond after 10 sessions
29 Augdown54,90653,656stayed beyond 2 sessions
6 Junup56,09956,578stayed beyond 2 sessions

Formations

shapeconfirmednecklinemeasured moveoutcome
double top21 Aug52,783—open
double bottom7 Aug61,765—open
double top10 Jul49,955—open
double top10 Jul49,955—open
double top10 Jul52,783—open
double bottom13 Feb60,437—open

The last sessions

dateclosetrendmomentumrangecompression rulesettled
18 Sep56,359sidewaysmixed55,699–58,597breakout
11 Sep56,607sidewaysmixed55,699–58,597breakout
4 Sep57,370sidewaysrising56,024–58,597breakout
28 Aug57,496sidewaysrising56,024–58,706breakout
21 Aug57,762sidewaysrising56,024–58,706breakout
14 Aug57,491risingrising53,843–58,706breakdownno break
7 Aug57,746risingrising53,027–58,706breakdownno break
31 Jul57,265risingrising53,027–58,706breakoutno break
24 Jul56,694risingrising52,783–58,706breakoutno break
17 Jul58,521risingrising52,783–58,706breakoutno break
10 Jul58,046risingrising52,783–58,706breakoutno break
3 Jul57,939risingrising52,783–58,706breakdownno break