Currently option pain is at 8350 and since only two days left for the expiry nifty expiry range could be in a very tight range +/- 100 points either side.
Though the volatility is inching up still it is considered to be ultra low volatility. Expected Nifty Expiry range is in the zone of 8250-8450.
Image Credit : OptionAction
Nifty Open Interest Lookup
Open Interest Lookup shows that 8000PE and 8300PE writers gained upper hand so far and so far the confidence of call writers are missing since the start of the series. Expiry will be likely above 8200 zone.
As we are nearing the budget session volatility started increasing in the last 5 trading sessions.