What to watch:Defensive sectors (FMCG, Pharma) often outperform on these days. Avoid commodity-importers and FII-heavy mid/smallcap names. If India VIX is also rising, the move can extend; if VIX is calm, expect a shallow pullback.

Rotation: into Pharma, out of Media

Pharma +0.1% while Media -2.4% — a 2.5pp intra-sector spread is wide enough to signal active rotation rather than broad-market drift.

What to watch:If the spread persists 2-3 sessions, a pair-trade (long Pharma, hedged against Media) becomes attractive. Single-sector bets are riskier on rotation days because index-level direction is muted.

Why is it pricing this way?

Overnight Setup global & macro backdrop

Overnight Global Cues

Mixed cues

S&P -0.64% · Nikkei -0.83%

Macro Backdrop

Crude / USDINR

Crude $100.0 (+0.6%) · USDINR 94.81 (+0.53%)

Where is money moving today?

Sector Money Flow based on sector-index momentum

↑Money flowing IN

Pharma

+0.12%

PSU Banks

+0.07%

↓Money flowing OUT

Media

-2.35%

FMCG

-1.41%

-1.05%

Energy

-1.05%

Auto

-0.73%

Metal

-0.52%

Infra

-0.49%

Realty

-0.30%

Fin Services

-0.14%

Banks

-0.09%

Gold

4,024.3

-0.89%

Silver

53.9

-1.68%

Copper

6.4

+1.07%

Crude

100.0

+0.58%

USDINR

94.81

+0.53%

10Y UST

4.95%

-3.21%

What are derivative traders doing?

NIFTY Option Chain nearest expiry 2026-10-27 · spot 22,658 · prices as of 09:50 IST

Writers expect Nifty between 22,700 and 24,000 this week — +5.9% upside, +0.2% downside.

unbalanced

Call OI (writers)	Strike	Put OI (writers)
22,880 IV 19% Δ 0.93 θ -10.8 ν 3	22050	2,782,975 IV 19% Δ -0.07 θ -6.9 ν 3
85,345 IV 18% Δ 0.92 θ -11.7 ν 4	22100	5,461,950 IV 18% Δ -0.08 θ -7.8 ν 4
31,265 IV 18% Δ 0.90 θ -12.6 ν 4	22150	3,419,325 IV 18% Δ -0.10 θ -8.7 ν 4
497,185 IV 18% Δ 0.88 θ -13.6 ν 5	22200	8,155,030 IV 18% Δ -0.12 θ -9.7 ν 5
89,050 IV 18% Δ 0.86 θ -14.6 ν 5	22250	2,810,210 IV 18% Δ -0.14 θ -10.7 ν 5
607,490 IV 17% Δ 0.84 θ -15.7 ν 6	22300	8,016,450 IV 17% Δ -0.16 θ -11.7 ν 6
176,540 IV 17% Δ 0.81 θ -16.8 ν 7	22350	2,686,645 IV 17% Δ -0.19 θ -12.8 ν 7
766,285 IV 17% Δ 0.77 θ -17.7 ν 7	22400	8,180,900 IV 17% Δ -0.23 θ -13.7 ν 7
266,370 IV 17% Δ 0.74 θ -18.6 ν 8	22450	3,270,930 IV 17% Δ -0.26 θ -14.6 ν 8
3,080,675 IV 17% Δ 0.70 θ -19.5 ν 9	22500	14,151,605 IV 17% Δ -0.30 θ -15.5 ν 9
849,095 IV 16% Δ 0.66 θ -20.0 ν 9	22550	4,866,225 IV 16% Δ -0.34 θ -16.0 ν 9
3,992,820 IV 16% Δ 0.61 θ -20.4 ν 9	22600	12,218,765 IV 16% Δ -0.39 θ -16.3 ν 9
2,425,865 IV 16% Δ 0.56 θ -20.4 ν 10	22650	7,790,510 IV 16% Δ -0.44 θ -16.4 ν 10
9,603,815 IV 16% Δ 0.51 θ -20.2 ν 10	22700 S	15,559,505 IV 16% Δ -0.49 θ -16.1 ν 10
6,107,205 IV 16% Δ 0.46 θ -19.7 ν 10	22750	5,673,200 IV 16% Δ -0.54 θ -15.7 ν 10
12,839,580 IV 15% Δ 0.41 θ -18.9 ν 9	22800 MP	8,582,470 IV 15% Δ -0.59 θ -14.9 ν 9
4,209,725 IV 15% Δ 0.35 θ -17.9 ν 9	22850	1,732,900 IV 15% Δ -0.65 θ -13.8 ν 9
9,825,855 IV 15% Δ 0.31 θ -16.6 ν 9	22900	4,032,600 IV 15% Δ -0.69 θ -12.6 ν 9
4,840,680 IV 15% Δ 0.26 θ -15.3 ν 8	22950	955,110 IV 15% Δ -0.74 θ -11.2 ν 8
19,532,825 IV 15% Δ 0.22 θ -13.9 ν 7	23000	4,915,755 IV 15% Δ -0.78 θ -9.8 ν 7
5,160,675 IV 15% Δ 0.18 θ -12.3 ν 6	23050	679,445 IV 15% Δ -0.82 θ -8.2 ν 6
10,771,930 IV 15% Δ 0.15 θ -10.9 ν 6	23100	1,674,270 IV 15% Δ -0.85 θ -6.8 ν 6
4,690,140 IV 15% Δ 0.12 θ -9.5 ν 5	23150	348,660 IV 15% Δ -0.88 θ -5.4 ν 5
11,739,780 IV 15% Δ 0.10 θ -8.2 ν 4	23200	1,678,300 IV 15% Δ -0.90 θ -4.0 ν 4
4,037,020 IV 16% Δ 0.08 θ -7.0 ν 4	23250	132,990 IV 16% Δ -0.92 θ -2.9 ν 4

What this tells you

Spot 22,658

Resistance (R) 24,000

Support (S) 22,700

Max Pain (MP) 22,800

Highest call-OI strike = where writers expect resistance. Highest put-OI strike = where writers expect support. Max-pain magnet pulls strongest in expiry week.

Strategy Builder multi-leg payoff for NIFTY options · 2026-10-27 expiry

Underlying: NIFTY · Spot: ₹ 22,658.05 · Expiry: 2026-10-27 · Lot: 65

Legs

Side

Type

Strike

Qty

Premium

Net premium—

Max profit—

Max loss—

Breakevens—

Position Delta—

Position Theta/day—

Position Vega/1% IV—

Payoff at expiry

F&O OI Buildup stock futures · total OI across all expiries · 2026-10-22

Long Buildup price up + OI up — fresh longs added

SAGILITY

+2.13%

OI +7.8%

SRF

+2.13%

OI +6.2%

FEDERALBNK

+1.03%

OI +4.3%

INDUSTOWER

+1.19%

OI +3.3%

BPCL

+0.10%

OI +3.0%

HAVELLS

+0.42%

OI +2.8%

UNIONBANK

+0.21%

OI +2.5%

BHARTIARTL

+1.08%

OI +2.4%

Short Covering price up + OI down — shorts closing

BAJAJHLDNG

+2.26%

OI -13.2%

KAYNES

+5.29%

OI -12.5%

INDHOTEL

+4.34%

OI -11.8%

IRFC

+0.38%

OI -10.3%

SONACOMS

+0.39%

OI -9.4%

RBLBANK

+0.71%

OI -9.0%

BLUESTARCO

+1.00%

OI -8.9%

ZYDUSLIFE

+1.95%

OI -8.7%

Short Buildup price down + OI up — fresh shorts added

SWIGGY

-5.68%

OI +12.7%

ENRIN

-1.21%

OI +12.4%

NAM-INDIA

-3.42%

OI +9.6%

KPITTECH

-1.18%

OI +9.3%

OBEROIRLTY

-1.26%

OI +7.9%

MFSL

-2.13%

OI +7.1%

AUBANK

-0.22%

OI +6.2%

POWERINDIA

-3.72%

OI +6.0%

Long Unwinding price down + OI down — longs closing

WAAREEENER

-2.33%

OI -16.1%

IREDA

-0.54%

OI -15.4%

ICICIPRULI

-0.46%

OI -15.0%

ATHERENERG

-0.14%

OI -14.2%

LTM

-0.88%

OI -14.2%

PIIND

-0.99%

OI -13.1%

DIXON

-0.59%

OI -13.1%

LTF

-0.14%

OI -10.6%

Futures Basis Screener premium/discount of nearest-expiry futures to spot

↑ Premium · futures trading above spot

Symbol	Spot	Future	Basis %
AMBUJACEM	362.83	371.15	+2.29%
LT	3,616.83	3,657.40	+1.12%
RELIANCE	1,180.43	1,190.90	+0.89%
AMBER	6,180.15	6,229.00	+0.79%
KAYNES	3,293.05	3,316.90	+0.72%
YESBANK	16.05	16.16	+0.69%
ATHERENERG	1,425.30	1,434.80	+0.67%
OFSS	9,843.62	9,909.00	+0.66%

↓ Discount · futures trading below spot

Symbol	Spot	Future	Basis %
TECHM	1,828.73	1,789.60	-2.14%
UJJIVANSFB	61.98	60.74	-2.00%
MARICO	775.00	766.85	-1.05%
IRFC	77.00	76.22	-1.01%
IOC	130.97	129.68	-0.98%
PATANJALI	354.95	351.75	-0.90%
VEDL	234.80	232.70	-0.89%
HINDZINC	517.93	513.50	-0.85%

Top Traded F&O Contracts where derivative volume is concentrated today

Contract	Type	Close	Traded Value	OI	OI Δ
NIFTY26OCT22600PE	IDO	102.95	5.70 L Cr	8,575,775	+3,034,460
NIFTY26OCT22700CE	IDO	155.20	4.49 L Cr	6,089,590	+322,335
NIFTY26OCT22700PE	IDO	144.95	4.23 L Cr	7,366,775	+244,140
NIFTY26OCT22500PE	IDO	72.05	4.14 L Cr	9,255,090	+755,365
NIFTY26OCT22800CE	IDO	107.45	3.69 L Cr	7,550,075	-228,670
NIFTY26OCT23000CE	IDO	47.60	3.44 L Cr	15,584,010	-705,250
NIFTY26OCT22650PE	IDO	122.85	3.24 L Cr	3,655,145	+1,729,065
NIFTY26OCT22600CE	IDO	212.80	3.08 L Cr	3,811,470	+1,611,220
NIFTY26OCT22650CE	IDO	182.15	2.59 L Cr	2,070,055	+1,104,480
NIFTY26OCT22550PE	IDO	86.55	2.52 L Cr	3,186,040	+1,597,440
NIFTY26OCT22900CE	IDO	72.55	2.46 L Cr	5,788,640	-1,605,110
NIFTY26OCT22750CE	IDO	130.30	2.44 L Cr	3,174,015	+580,450

Who's actually moving the money?

Smart Counterparty Activity 22-Oct-2026

1 PE sells · 1 FII buys / 3 sells · 1 Promoter buys / 1 sells · 111 deals totaling ₹3,186 Cr. Showing top 20 by value.

Stock	Type	Side	Qty	Value (₹ Cr)	Counterparty
PCJEWELLER PC Jeweller Ltd	Bulk	SELL	219,803,877	414.77	JUMP TRADING FINANCIAL INDIA PRIVATE LIMITED
PCJEWELLER PC Jeweller Ltd	Bulk	BUY	219,803,877	413.67	JUMP TRADING FINANCIAL INDIA PRIVATE LIMITED
PCJEWELLER PC Jeweller Ltd	Bulk	SELL	108,729,060	204.52	HRTI PRIVATE LIMITED
PCJEWELLER PC Jeweller Ltd	Bulk	BUY	99,078,736	183.39	HRTI PRIVATE LIMITED
GALLANTT Gallantt Ispat Limited	Bulk+Block	SELL	2,651,975	149.84	GALLANTT INDUSTRY PRIVATE LIMITED
GALLANTT Gallantt Ispat Limited	Bulk+Block	BUY	2,651,975	149.84	SURYALAXMI INFRACON PRIVATE LIMITED
PCJEWELLER PC Jeweller Ltd	Bulk	BUY	64,743,911	121.98	QE SECURITIES LLP
PCJEWELLER PC Jeweller Ltd	Bulk	SELL	64,228,179	121.39	QE SECURITIES LLP
INDIACEM The India Cements Limited	Bulk	SELL	2,417,444	82.44	MICROCURVES TRADING PRIVATE LIMITED
INDIACEM The India Cements Limited	Bulk	BUY	2,417,444	82.40	MICROCURVES TRADING PRIVATE LIMITED
INDIACEM The India Cements Limited	Bulk	BUY	2,141,447	73.33	QE SECURITIES LLP
INDIACEM The India Cements Limited	Bulk	SELL	2,095,589	71.98	QE SECURITIES LLP
INDIACEM The India Cements Limited	Bulk	SELL	1,964,092	67.11	ALPHAGREP SECURITIES PRIVATE LIMITED
INDIACEM The India Cements Limited	Bulk	BUY	1,964,092	67.09	ALPHAGREP SECURITIES PRIVATE LIMITED
OMNI Omnitech Engineering Ltd	Bulk	BUY	831,820	55.04	JUNOMONETA FINSOL PRIVATE LIMITED
OMNI Omnitech Engineering Ltd	Bulk	SELL	831,153	55.02	JUNOMONETA FINSOL PRIVATE LIMITED
CAPINVIT Capital Infra Trust	Bulk+Block	SELL	6,644,519	50.23	A.K. CAPITAL FINANCE LIMITED
CAPINVIT Capital Infra Trust	Bulk+Block	BUY	6,644,519	50.23	LARSEN & TOUBRO LIMITED
OMNI Omnitech Engineering Ltd	Bulk	SELL	724,456	48.12	MICROCURVES TRADING PRIVATE LIMITED
OMNI Omnitech Engineering Ltd	Bulk	BUY	724,456	48.10	MICROCURVES TRADING PRIVATE LIMITED

Institutional Streaks consecutive sessions with FII / MF / Insurance activity on the same side

Stock	Side	Streak	Total Value	Window	Notable Buyers
GLASSWALL	SELL	10d	₹ 465 Cr	2026-09-17 → 2026-09-30	PLUTUS RESEARCH PRIVATE LIMITED · PLUTUS WEALTH MANAGEMENT LLP
GLASSWALL	BUY	10d	₹ 465 Cr	2026-09-17 → 2026-09-30	PLUTUS RESEARCH PRIVATE LIMITED · PLUTUS WEALTH MANAGEMENT LLP
KANOHAR	SELL	5d	₹ 333 Cr	2026-10-05 → 2026-10-09	PLUTUS WEALTH MANAGEMENT LLP
KANOHAR	BUY	5d	₹ 333 Cr	2026-10-05 → 2026-10-09	PLUTUS WEALTH MANAGEMENT LLP
MONEYVIEW	SELL	4d	₹ 392 Cr	2026-10-07 → 2026-10-12	PLUTUS WEALTH MANAGEMENT LLP
MONEYVIEW	BUY	4d	₹ 392 Cr	2026-10-07 → 2026-10-12	PLUTUS WEALTH MANAGEMENT LLP
MOBIKWIK	SELL	4d	₹ 115 Cr	2026-10-06 → 2026-10-09	BAJAJ LIFE INSURANCE LIMITED · PLUTUS WEALTH MANAGEMENT LLP
RENTOMOJO	BUY	3d	₹ 113 Cr	2026-09-17 → 2026-09-21	HELIOS MUTUAL FUND · PLUTUS RESEARCH PRIVATE LIMITED · PLUTUS WEALTH MANAGEMENT LLP
MOBIKWIK	BUY	3d	₹ 98 Cr	2026-10-07 → 2026-10-09	PLUTUS WEALTH MANAGEMENT LLP
LENSKART	BUY	2d	₹ 2,893 Cr	2026-08-28 → 2026-08-31	BAJAJ LIFE INSURANCE LIMITED · BLACKROCK EMERGING MARKETS FUND INC · EDELWEISS MUTUAL FUND · +10 more
CMLL	BUY	2d	₹ 139 Cr	2026-07-24 → 2026-07-27	CARNELIAN ASSET MANAGEMENT & ADVISORS PRIVATE LIMITED · GOLDMAN SACHS BANK EUROPE SE ODI · PLUTUS RESEARCH PRIVATE LIMITED
RENTOMOJO	SELL	2d	₹ 68 Cr	2026-09-18 → 2026-09-21	PLUTUS RESEARCH PRIVATE LIMITED · PLUTUS WEALTH MANAGEMENT LLP

What are institutions positioned for?

Institutional Positioning how FIIs are set up under the surface

FII Futures Posture

Heavy Short

net-long ratio -69.8%

FII Direction Streak

1 sessions

net accumulating futures

India VIX

16.52

Moderate fear · +4.8% d/d

Days to Monthly Expiry

Thu, 27 Feb

Nifty PCR (EOD)

0.90

Balanced

Nifty Max Pain (EOD)

22,800

+0.63% above spot (22,658)

Any patterns firing?

Event Signals 1 firing today

DII Futures Build-up

DII increased index-futures net-long ratio by +7.8pp — domestic conviction step-up

What it means:Domestic institutions (mutual funds, insurance) increased their index-futures net-long ratio by 5+ percentage points day-over-day.

What it implies:DIIs are stepping up domestic conviction, often counter to FII selling. A step-up after a sell-off can mark intermediate-term bottoms. Experimental — not yet validated against backtest.

Experimental detector · insufficient historical fires to validate.

bullish

Events Calendar next 3 weeks · earnings + macro releases + monthly expiry

2026-10-23

EARNINGS ADANIPOWER reports earnings EPS est: 1.71

EARNINGS BPCL reports earnings EPS est: 13.9

EARNINGS CGPOWER reports earnings EPS est: 2.34484

EARNINGS COFORGE reports earnings EPS est: 15.10952

EARNINGS DRREDDY reports earnings EPS est: 8.87025

EARNINGS GODREJPROP reports earnings EPS est: 15.2

2026-10-24

EARNINGS AUBANK reports earnings EPS est: 11.7325

2026-10-26

EARNINGS APLAPOLLO reports earnings EPS est: 12.95522

2026-10-27

EARNINGS BAJAJ-AUTO reports earnings EPS est: 114.298

EARNINGS CIPLA reports earnings EPS est: 11.82917

EARNINGS CONCOR reports earnings EPS est: 4.675

EARNINGS DIXON reports earnings EPS est: 45.55353

2026-10-28

EARNINGS ADANIENT reports earnings EPS est: 13.62

EARNINGS ADANIPORTS reports earnings EPS est: 16.535

EARNINGS BANDHANBNK reports earnings EPS est: 3.25

EARNINGS CHOLAFIN reports earnings EPS est: 18.85333

2026-10-29

EARNINGS AMBUJACEM reports earnings EPS est: 1.436

EARNINGS ASIANPAINT reports earnings EPS est: 12.14922

EARNINGS BEL reports earnings EPS est: 1.915

EARNINGS BLUESTARCO reports earnings EPS est: 4.09762

EARNINGS CAMS reports earnings EPS est: 5.1

EARNINGS COALINDIA reports earnings EPS est: 11.92968

EARNINGS DLF reports earnings EPS estimate unavailable

EARNINGS GODREJCP reports earnings EPS est: 5.3625

EXPIRY NIFTY / BankNifty Monthly F&O Expiry Theta accelerates; max-pain magnet near close

2026-10-30

EARNINGS ABCAPITAL reports earnings EPS est: 4.73

EARNINGS BANKBARODA reports earnings EPS estimate unavailable

EARNINGS GAIL reports earnings EPS est: 4.90987

EARNINGS GLENMARK reports earnings EPS est: 15.6

2026-11-03

EARNINGS BAJAJFINSV reports earnings EPS estimate unavailable

EARNINGS BAJAJHLDNG reports earnings EPS estimate unavailable

2026-11-04

FED US Fed FOMC Decision Fed funds rate decision

EARNINGS APOLLOHOSP reports earnings EPS est: 44.48308

EARNINGS CUMMINSIND reports earnings EPS est: 21.19454

EARNINGS DABUR reports earnings EPS est: 2.82

EARNINGS DELHIVERY reports earnings EPS est: 0.754

2026-11-05

EARNINGS AUROPHARMA reports earnings EPS est: 19.31493

EARNINGS BHARTIARTL reports earnings EPS est: 15.1594

EARNINGS BRITANNIA reports earnings EPS est: 29.40494

EARNINGS CROMPTON reports earnings EPS est: 2.3

EARNINGS GRASIM reports earnings EPS est: 45.05

2026-11-06

EARNINGS BOSCHLTD reports earnings EPS est: 245.02025

2026-11-07

EARNINGS DIVISLAB reports earnings EPS est: 32.23538

2026-11-11

EARNINGS ASTRAL reports earnings EPS est: 6.46

EARNINGS BIOCON reports earnings EPS est: 1.04

EARNINGS HAL reports earnings EPS est: 28.20333

2026-11-12

EARNINGS ALKEM reports earnings EPS est: 56.4

EARNINGS BDL reports earnings EPS est: 5.08

EARNINGS EICHERMOT reports earnings EPS est: 58.83

EARNINGS GMRAIRPORT reports earnings EPS est: 0.1

2026-11-13

EARNINGS ABB reports earnings EPS est: 18.94327

EARNINGS BHARATFORG reports earnings EPS est: 8.3

EARNINGS FORTIS reports earnings EPS est: 4.3875

Have we been right before?

Signal Calendar last 14 weeks

Bullish Bearish Warning Quiet

FII Positioning Detail

FII Index Futures net-long ratio -69.8% +1.73 pp

FII calls long Δ +18,630

FII puts long Δ -18,930

FII calls short Δ +31,708

FII puts short Δ -3,930

Recent Signals click a date to revisit that day's dashboard

2025-02-12

DII Futures Build-up *

2025-02-06

Retail-vs-FII Divergence Widening *

2025-02-04

DII Futures Unwind *

2025-01-30

FII Short Covering Monthly Expiry Imminent * Retail-vs-FII Divergence Widening * DII Futures Unwind *

2025-01-29

Monthly Expiry Imminent * DII Futures Build-up *

2025-01-28

Monthly Expiry Imminent *

2025-01-03

FII Fresh Shorting

2025-01-02

Smart Money Accumulating

Smart-Money Flow Tracker for Indian Markets live FII / DII positioning, F&O OI buildup, bulk deals & option chain · session 2025-02-12 · vs 2025-02-11

Stock Heatmap NIFTY 500 universe · sized by traded value · click any cell for details

Futures Heatmap F&O stocks · sized by futures traded value · coloured by OI buildup class

Stocks in Play today's live move + last session's OI buildup · click any card for full detail

Market Pulse indices live · 23 Oct 09:52 IST · cash flows at session close 12 Feb

Top Nifty Contributors stocks moving the index most today (weighted)

Smart Money Take interpretation, not just data

Overnight Setup global & macro backdrop

Sector Money Flow based on sector-index momentum

NIFTY Option Chain nearest expiry 2026-10-27 · spot 22,658 · prices as of 09:50 IST

What this tells you

Strategy Builder multi-leg payoff for NIFTY options · 2026-10-27 expiry

Legs

Payoff at expiry

F&O OI Buildup stock futures · total OI across all expiries · 2026-10-22

Futures Basis Screener premium/discount of nearest-expiry futures to spot

↑ Premium · futures trading above spot

↓ Discount · futures trading below spot

Top Traded F&O Contracts where derivative volume is concentrated today

Smart Counterparty Activity 22-Oct-2026

Institutional Streaks consecutive sessions with FII / MF / Insurance activity on the same side

Institutional Positioning how FIIs are set up under the surface

Event Signals 1 firing today

Events Calendar next 3 weeks · earnings + macro releases + monthly expiry

Signal Calendar last 14 weeks

FII Positioning Detail

Recent Signals click a date to revisit that day's dashboard

Live data hubs

Guides & explainers

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