NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 1/01/2026

Markets opened 2026 with modest gains—NIFTY up 0.07%, BANKNIFTY +0.22%—but thin holiday volumes make this Open Interest Volume Analysis across combined futures (Jan+Feb+Mar) the real story: bullish long positioning holds firm despite premium erosion, signaling institutional confidence even in quiet trading.

NIFTY combined futures whisper fresh longs: Tiny +0.12% OI nudge on -58% volume drop still reads bullish—January covering offset by February shorts, but overall structure favors upside.

BANKNIFTY conviction shines: +5.52% combined OI confirms strong fresh long buildup across both contracts, ignoring volume fade—banks leading the charge.

MIDCPNIFTY joins bullish camp: +1.20% combined OI with January/February longs building shows midcaps catching the risk-on vibe steadily.

SENSEX lone short signal: +9.76% OI warns benchmark caution, but volume drop suggests lack of conviction.

PCR mixed but put-heavy: NIFTY weekly 1.122, monthly 1.040—defensive positioning around max pain 26,100-26,150 as traders protect thin gains.

Premium decay across board: Sharp theta bleed typical for low-volume days, but OI direction trumps—bulls adding positions quietly.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 26146.55 (0.065%)

Combined = January + February + March

Combined Fut Open Interest Change: 0.12%

Combined Fut Volume Change: -57.93%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 9% Previous 9%

NIFTY JANUARY Future closed at: 26290.4 (-0.022%)

January Fut Premium 143.85 (Decreased by -22.85 points)

January Fut Open Interest Change: -0.16%

January Fut Volume Change: -57.06%

January Fut Open Interest Analysis: Long Covering

NIFTY FEBRUARY Future closed at: 26436.9 (-0.004%)

February Fut Premium 290.35 (Decreased by -18.05 points)

February Fut Open Interest Change: 0.88%

February Fut Volume Change: -66.59%

February Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (6/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.122 (Decreased from 1.354)

Put-Call Ratio (Volume): 1.049

Max Pain Level: 26150

Maximum CALL Open Interest: 26200

Maximum PUT Open Interest: 26000

Highest CALL Addition: 26200

Highest PUT Addition: 26150

NIFTY Monthly Expiry (27/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.040 (Decreased from 1.070)

Put-Call Ratio (Volume): 1.128

Max Pain Level: 26100

Maximum CALL Open Interest: 27000

Maximum PUT Open Interest: 26000

Highest CALL Addition: 26300

Highest PUT Addition: 26300

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 59711.55 (0.218%)

Combined = January + February + March

Combined Fut Open Interest Change: 5.52%

Combined Fut Volume Change: -59.99%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 7% Previous 7%

BANKNIFTY JANUARY Future closed at: 59955.6 (0.120%)

January Fut Premium 244.05 (Decreased by -57.7 points)

January Fut Open Interest Change: 5.5%

January Fut Volume Change: -59.4%

January Fut Open Interest Analysis: Fresh Long

BANKNIFTY FEBRUARY Future closed at: 60280.8 (0.097%)

February Fut Premium 569.25 (Decreased by -71.5 points)

February Fut Open Interest Change: 4.59%

February Fut Volume Change: -64.19%

February Fut Open Interest Analysis: Fresh Long

BANKNIFTY Monthly Expiry  (27/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.098 (Increased from 1.092)

Put-Call Ratio (Volume): 0.903

Max Pain Level: 59500

Maximum CALL Open Interest: 59500

Maximum PUT Open Interest: 59500

Highest CALL Addition: 60000

Highest PUT Addition: 60000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13843.6 (0.482%)

Combined = January + February + March

Combined Fut Open Interest Change: 1.20%

Combined Fut Volume Change: -51.78%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 3% Previous 3%

MIDCPNIFTY JANUARY Future closed at: 13899.15 (0.418%)

January Fut Premium 55.55 (Decreased by -8.5 points)

January Fut Open Interest Change: 1.12%

January Fut Volume Change: -52.75%

January Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY FEBRUARY Future closed at: 13967.5 (0.372%)

February Fut Premium 123.9 (Decreased by -14.65 points)

February Fut Open Interest Change: 2.71%

February Fut Volume Change: -16.36%

February Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY Monthly Expiry (27/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.157 (Increased from 1.082)

Put-Call Ratio (Volume): 0.980

Max Pain Level: 13800

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 14600

Highest PUT Addition: 12800

SENSEX Monthly Expiry (29/01/2026) Future

SENSEX Spot closed at: 85,188.60 (-0.038%)

SENSEX Monthly Future closed at: 85,747.35 (-0.079%)

Premium: 558.75 (Decreased by -36.2 points)

Open Interest Change: 9.76%

Volume Change: -43.54%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (8/01/2026) Option Analysis

Put-Call Ratio (OI): 0.891 (Decreased from 1.140)

Put-Call Ratio (Volume): 1.097

Max Pain Level: 85300

Maximum CALL OI: 85500

Maximum PUT OI: 83000

Highest CALL Addition: 87500

Highest PUT Addition: 83000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 3,268.60 Cr.
DIIs Net BUY: ₹ 1,525.89 Cr.

FII Derivatives Activity

FII Trading Stats	1.01.26	31.12.25	30.12.25
FII Cash (Provisional Data)	-3,268.60	-3,597.38	-3,844.02
Index Future Open Interest Long Ratio	9.43%	8.86%	8.84%
Index Future Volume Long Ratio	59.15%	46.12%	46.04%
Call Option Open Interest Long Ratio	50.85%	50.93%	47.19%
Call Option Volume Long Ratio	50.01%	50.49%	50.08%
Put Option Open Interest Long Ratio	61.52%	62.84%	68.16%
Put Option Volume Long Ratio	49.75%	49.93%	50.15%
Stock Future Open Interest Long Ratio	63.28%	63.42%	63.15%
Stock Future Volume Long Ratio	47.84%	54.22%	53.98%
Index Futures	Fresh Long	Fresh Short	Long Covering
Index Options	Fresh Short	Fresh Long	Short Covering
Nifty Futures	Short Covering	Fresh Short	Long Covering
Nifty Options	Fresh Short	Fresh Long	Short Covering
BankNifty Futures	Fresh Long	Fresh Long	Long Covering
BankNifty Options	Fresh Long	Fresh Long	Short Covering
FinNifty Futures	Fresh Long	Fresh Short	Fresh Long
FinNifty Options	Fresh Short	Fresh Long	Short Covering
MidcpNifty Futures	Fresh Short	Fresh Short	Long Covering
MidcpNifty Options	Fresh Long	Fresh Long	Long Covering
NiftyNxt50 Futures	Short Covering	Fresh Long	Short Covering
NiftyNxt50 Options	Fresh Long	Fresh Long	Long Covering
Stock Futures	Fresh Short	Fresh Long	Short Covering
Stock Options	Fresh Short	Fresh Short	Short Covering

Fresh Long: Net Buy with Increase in Open Interest
Fresh Short: Net Sell with Increase in Open Interest
Short Covering: Net Buy with Decrease in Open Interest
Long Covering: Net Sell with Decrease in Open Interest

NSE & BSE Option market Trends : Options Insights

SENSEX Weekly Expiry (8/01/2026)

The SENSEX index closed at 85188.6. The SENSEX weekly expiry for JANUARY 8, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.891 against previous 1.140. The 85500CE option holds the maximum open interest, followed by the 83000PE and 87500CE options. Market participants have shown increased interest with significant open interest additions in the 83000PE option, with open interest additions also seen in the 87500CE and 85500CE options. On the other hand, open interest reductions were prominent in the 84400CE, 86200PE, and 83300CE options. Trading volume was highest in the 85500CE option, followed by the 85500PE and 85000PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	08-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
85188.6	0.891	1.140	1.097
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	43,28,000	15,24,920	28,03,080
PUT:	38,57,580	17,39,100	21,18,480
Top CALL Open Interest:
Strike	OI	OI Change	Volume
85500	4,57,480	2,92,200	20,38,220
87500	3,66,920	3,00,280	10,07,860
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
87500	3,66,920	3,00,280	10,07,860
85500	4,57,480	2,92,200	20,38,220
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
84400	3,800	-1,520	14,580
83300	520	-40	40
Top CALL Volume:
Strike	OI	OI Change	Volume
85500	4,57,480	2,92,200	20,38,220
85300	2,65,500	2,36,420	12,51,180
Top PUT Open Interest:
Strike	OI	OI Change	Volume
83000	4,14,040	3,09,040	11,30,160
85000	2,85,300	43,680	18,22,260
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
83000	4,14,040	3,09,040	11,30,160
85300	2,48,720	2,19,960	16,64,780
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
86200	3,460	-180	5,340
86700	220	-20	140
Top PUT Volume:
Strike	OI	OI Change	Volume
85500	2,62,640	1,19,060	18,55,160
85000	2,85,300	43,680	18,22,260

NIFTY Weekly Expiry (6/01/2026)

The NIFTY index closed at 26146.55. The NIFTY weekly expiry for JANUARY 6, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.122 against previous 1.354. The 26000PE option holds the maximum open interest, followed by the 26200CE and 26400CE options. Market participants have shown increased interest with significant open interest additions in the 26200CE option, with open interest additions also seen in the 26350CE and 27000CE options. On the other hand, open interest reductions were prominent in the 25300PE, 27500CE, and 25200PE options. Trading volume was highest in the 26200CE option, followed by the 26200PE and 26150PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	06-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,146.55	1.122	1.354	1.049
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	13,57,33,325	9,62,31,265	3,95,02,060
PUT:	15,22,45,080	13,02,64,030	2,19,81,050
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,200	1,23,08,270	59,75,970	41,25,643
26,400	1,07,38,455	30,50,905	14,86,994
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,200	1,23,08,270	59,75,970	41,25,643
26,350	63,36,655	40,45,470	11,67,897
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,500	26,53,365	-7,16,560	1,44,089
27,600	14,22,980	-2,83,790	33,423
Top CALL Volume:
Strike	OI	OI Change	Volume
26,200	1,23,08,270	59,75,970	41,25,643
26,150	57,14,475	20,46,005	27,64,391
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,000	1,51,65,345	15,78,655	19,89,827
26,100	1,02,80,400	23,10,295	27,48,015
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,150	57,71,610	24,06,300	31,11,041
26,100	1,02,80,400	23,10,295	27,48,015
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,300	46,89,945	-7,83,445	4,27,446
25,200	49,02,365	-4,55,715	3,93,333
Top PUT Volume:
Strike	OI	OI Change	Volume
26,200	50,53,230	9,84,555	33,42,691
26,150	57,71,610	24,06,300	31,11,041

NIFTY Monthly Expiry (27/01/2026)

The NIFTY index closed at 26146.55. The NIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.040 against previous 1.070. The 26000PE option holds the maximum open interest, followed by the 27000CE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 26300CE option, with open interest additions also seen in the 27000CE and 26800CE options. On the other hand, open interest reductions were prominent in the 26100PE, 26100CE, and 25400PE options. Trading volume was highest in the 26000PE option, followed by the 27000CE and 26200PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,146.55	1.040	1.070	1.128
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	3,80,57,110	3,66,54,540	14,02,570
PUT:	3,95,96,505	3,92,15,995	3,80,510
Top CALL Open Interest:
Strike	OI	OI Change	Volume
27,000	49,63,465	2,82,425	40,118
26,000	44,82,400	-1,30,715	24,071
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,300	19,48,245	3,39,885	30,329
27,000	49,63,465	2,82,425	40,118
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,100	14,86,420	-1,71,990	15,708
26,000	44,82,400	-1,30,715	24,071
Top CALL Volume:
Strike	OI	OI Change	Volume
27,000	49,63,465	2,82,425	40,118
26,500	32,12,950	1,27,335	34,543
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,000	58,33,100	-37,960	46,756
25,500	32,15,485	47,320	26,347
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,300	12,28,825	1,14,335	24,781
26,350	1,60,290	98,475	2,793
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,100	17,48,695	-1,75,370	24,132
25,400	9,40,485	-1,45,535	15,296
Top PUT Volume:
Strike	OI	OI Change	Volume
26,000	58,33,100	-37,960	46,756
26,200	21,28,815	-20,605	39,339

BANKNIFTY Monthly Expiry (27/01/2026)

The BANKNIFTY index closed at 59711.55. The BANKNIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.098 against previous 1.092. The 59500PE option holds the maximum open interest, followed by the 59500CE and 60000CE options. Market participants have shown increased interest with significant open interest additions in the 60000CE option, with open interest additions also seen in the 60000PE and 59500PE options. On the other hand, open interest reductions were prominent in the 58000PE, 59500CE, and 62000CE options. Trading volume was highest in the 60000CE option, followed by the 59700PE and 59500PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
59,711.55	1.098	1.092	0.903
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	94,91,550	87,80,130	7,11,420
PUT:	1,04,26,170	95,88,870	8,37,300
Top CALL Open Interest:
Strike	OI	OI Change	Volume
59,500	14,91,000	-15,300	36,742
60,000	12,32,010	2,10,960	83,679
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
60,000	12,32,010	2,10,960	83,679
63,000	5,33,490	64,680	12,581
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
59,500	14,91,000	-15,300	36,742
62,000	5,85,780	-15,270	17,536
Top CALL Volume:
Strike	OI	OI Change	Volume
60,000	12,32,010	2,10,960	83,679
59,700	2,03,220	43,770	49,243
Top PUT Open Interest:
Strike	OI	OI Change	Volume
59,500	18,61,560	78,120	53,369
59,000	9,11,820	38,280	35,180
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
60,000	7,13,430	1,59,750	39,158
59,500	18,61,560	78,120	53,369
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
58,000	6,29,250	-16,530	18,923
58,200	89,760	-9,420	3,090
Top PUT Volume:
Strike	OI	OI Change	Volume
59,700	3,28,230	76,560	55,551
59,500	18,61,560	78,120	53,369

MIDCPNIFTY Monthly Expiry (27/01/2026)

The MIDCPNIFTY index closed at 13843.6. The MIDCPNIFTY monthly expiry for JANUARY 27, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.157 against previous 1.082. The 13000PE option holds the maximum open interest, followed by the 14000CE and 13500PE options. Market participants have shown increased interest with significant open interest additions in the 12800PE option, with open interest additions also seen in the 14600CE and 14500CE options. On the other hand, open interest reductions were prominent in the 69500PE, 69500CE, and 80500PE options. Trading volume was highest in the 13800CE option, followed by the 13800PE and 14200CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,843.60	1.157	1.082	0.980
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	40,87,200	36,47,520	4,39,680
PUT:	47,27,880	39,45,120	7,82,760
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	6,00,600	12,360	8,685
14,500	5,32,200	1,03,320	5,890
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
14,600	4,45,320	1,36,680	3,814
14,500	5,32,200	1,03,320	5,890
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,300	1,49,160	-27,000	4,499
13,750	20,640	-10,560	1,569
Top CALL Volume:
Strike	OI	OI Change	Volume
13,800	4,13,760	-960	14,971
14,200	2,30,760	52,080	11,252
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	6,20,160	40,200	5,446
13,500	5,32,440	-12,600	5,523
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,800	3,54,240	1,50,120	4,136
13,100	2,46,960	99,240	5,736
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,300	2,79,240	-33,840	3,493
13,500	5,32,440	-12,600	5,523
Top PUT Volume:
Strike	OI	OI Change	Volume
13,800	5,28,960	85,920	14,262
13,100	2,46,960	99,240	5,736

Conclusion: What the NSE & BSE Indices Futures and Options Open Interest Volume Analysis Tells Us

Open Interest Volume Analysis says bulls quietly reloading: Combined futures showing fresh longs in BANKNIFTY/MIDCPNIFTY/NIFTY despite thin volumes—2026 momentum intact.

Actionable post-holiday plays: Buy BANKNIFTY dips to 59,500 with 59,300 stops targeting 60,200; NIFTY bull spreads 26,100/26,400—sector longs over index.

Watch SENSEX divergence: Benchmark shorts could cap broad gains—favor BANKNIFTY/MIDCPNIFTY relative strength trades.

Thursday trigger: Volume pickup + OI acceleration = 26,400 breakout; PCR above 1.2 + covering = pullback to 26,000—scale in gradually as liquidity returns.

Check Previous Day’s NSE & BSE Indices F&O Analysis

FII / FPI trading activity in Capital Market Segment

NSE Derivatives Raw Data

BSE Derivatives Raw Data

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