NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 7/01/2026

Markets slipped another 0.15% today on NIFTY amid mixed signals, but this Open Interest Volume Analysis across combined futures (Jan+Feb+Mar) captures the real action—persistent NIFTY shorts grinding higher while BANKNIFTY unloads longs aggressively and MIDCPNIFTY shows fresh long hope, screaming classic range-bound rotation.

NIFTY combined futures pile on shorts: +0.49% OI creep despite -15% volume confirms patient bear accumulation—January/February both building shorts steadily.

BANKNIFTY massive long covering: -10.28% combined OI plunge on +33% volume marks profit-taking after rally—January hit hardest at -11%.

MIDCPNIFTY bullish divergence: +0.15% combined OI with rising volume signals fresh longs emerging, premiums expanding positively.

SENSEX shorts accelerate: +28.36% combined OI explosion warns broad caution persisting.

PCR swings defensive: NIFTY weekly ticks to 0.742, max pain 26,150-26,200—put protection building around range lows.

Premium action mixed: NIFTY eroding while MIDCPNIFTY premiums firm up—sector tells clearer story than index.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 26140.75 (-0.145%)

Combined = January + February + March

Combined Fut Open Interest Change: 0.49%

Combined Fut Volume Change: -14.81%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 10% Previous 10%

NIFTY JANUARY Future closed at: 26235.3 (-0.189%)

January Fut Premium 94.55 (Decreased by -11.85 points)

January Fut Open Interest Change: 0.07%

January Fut Volume Change: -17.57%

January Fut Open Interest Analysis: Fresh Short

NIFTY FEBRUARY Future closed at: 26381.7 (-0.174%)

February Fut Premium 240.95 (Decreased by -8.05 points)

February Fut Open Interest Change: 3.17%

February Fut Volume Change: 15.48%

February Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (13/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.742 (Increased from 0.735)

Put-Call Ratio (Volume): 0.986

Max Pain Level: 26150

Maximum CALL Open Interest: 26500

Maximum PUT Open Interest: 25500

Highest CALL Addition: 26200

Highest PUT Addition: 26100

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

Put-Call Ratio (Open Interest): 1.010 (Decreased from 1.022)

Put-Call Ratio (Volume): 0.810

Max Pain Level: 26200

Maximum CALL Open Interest: 27000

Maximum PUT Open Interest: 26000

Highest CALL Addition: 26600

Highest PUT Addition: 25800

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 59990.85 (-0.212%)

Combined = January + February + March

Combined Fut Open Interest Change: -10.28%

Combined Fut Volume Change: 33.02%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 9% Previous 8%

BANKNIFTY JANUARY Future closed at: 60171.2 (-0.235%)

January Fut Premium 180.35 (Decreased by -14.05 points)

January Fut Open Interest Change: -11.0%

January Fut Volume Change: 33.6%

January Fut Open Interest Analysis: Long Covering

BANKNIFTY FEBRUARY Future closed at: 60514.6 (-0.201%)

February Fut Premium 523.75 (Increased by 5.55 points)

February Fut Open Interest Change: -3.94%

February Fut Volume Change: 18.80%

February Fut Open Interest Analysis: Long Covering

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

Put-Call Ratio (Open Interest): 1.050 (Decreased from 1.112)

Put-Call Ratio (Volume): 1.022

Max Pain Level: 59800

Maximum CALL Open Interest: 59500

Maximum PUT Open Interest: 59500

Highest CALL Addition: 60500

Highest PUT Addition: 52000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14053.4 (0.690%)

Combined = January + February + March

Combined Fut Open Interest Change: 0.15%

Combined Fut Volume Change: 8.85%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 3% Previous 3%

MIDCPNIFTY JANUARY Future closed at: 14113.4 (0.755%)

January Fut Premium 60 (Increased by 9.45 points)

January Fut Open Interest Change: 0.07%

January Fut Volume Change: 8.30%

January Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY FEBRUARY Future closed at: 14174.4 (0.755%)

February Fut Premium 121 (Increased by 9.9 points)

February Fut Open Interest Change: 3.04%

February Fut Volume Change: 13.07%

February Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 1.189 (Increased from 1.123)

Put-Call Ratio (Volume): 1.082

Max Pain Level: 14000

Maximum CALL Open Interest: 14500

Maximum PUT Open Interest: 13700

Highest CALL Addition: 14100

Highest PUT Addition: 13700

SENSEX Monthly Expiry (29/01/2026) Future

SENSEX Spot closed at: 84,961.14 (-0.120%)

SENSEX Monthly Future closed at: 85,400.60 (-0.172%)

Premium: 439.46 (Decreased by -44.95 points)

Open Interest Change: 28.36%

Volume Change: 6.01%

Open Interest Analysis: Fresh Short

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

Put-Call Ratio (OI): 0.709 (Increased from 0.613)

Put-Call Ratio (Volume): 0.968

Max Pain Level: 85000

Maximum CALL OI: 85500

Maximum PUT OI: 83500

Highest CALL Addition: 85500

Highest PUT Addition: 84700

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 1,527.71 Cr.
DIIs Net BUY: ₹ 2,889.32 Cr.

FII Derivatives Activity

FII Trading Stats	7.01.26	6.01.26	5.01.26
FII Cash (Provisional Data)	-1,527.71	-107.63	-36.25
Index Future Open Interest Long Ratio	10.12%	12.73%	11.50%
Index Future Volume Long Ratio	35.99%	57.68%	53.29%
Call Option Open Interest Long Ratio	51.04%	52.24%	49.91%
Call Option Volume Long Ratio	49.86%	49.61%	49.69%
Put Option Open Interest Long Ratio	61.13%	62.48%	59.04%
Put Option Volume Long Ratio	50.05%	49.91%	50.24%
Stock Future Open Interest Long Ratio	62.23%	62.45%	62.84%
Stock Future Volume Long Ratio	48.19%	45.31%	46.41%
Index Futures	Long Covering	Fresh Long	Short Covering
Index Options	Fresh Short	Short Covering	Fresh Short
Nifty Futures	Long Covering	Fresh Short	Short Covering
Nifty Options	Fresh Short	Short Covering	Fresh Short
BankNifty Futures	Long Covering	Fresh Long	Fresh Long
BankNifty Options	Fresh Long	Fresh Short	Fresh Long
FinNifty Futures	Long Covering	Short Covering	Short Covering
FinNifty Options	Short Covering	Fresh Long	Fresh Long
MidcpNifty Futures	Fresh Short	Short Covering	Fresh Short
MidcpNifty Options	Fresh Short	Fresh Long	Fresh Long
NiftyNxt50 Futures	Long Covering	Long Covering	Short Covering
NiftyNxt50 Options	Fresh Long	Fresh Long	Fresh Short
Stock Futures	Fresh Short	Fresh Short	Fresh Short
Stock Options	Fresh Short	Fresh Short	Fresh Short

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 84961.14. The SENSEX weekly expiry for JANUARY 8, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.709 against previous 0.613. The 85500CE option holds the maximum open interest, followed by the 86000CE and 85000CE options. Market participants have shown increased interest with significant open interest additions in the 85500CE option, with open interest additions also seen in the 84700PE and 85000CE options. On the other hand, open interest reductions were prominent in the 87500CE, 85100PE, and 85500PE options. Trading volume was highest in the 85000CE option, followed by the 84800PE and 84700PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	08-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
84961.14	0.709	0.613	0.968
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,18,51,500	2,91,65,560	1,26,85,940
PUT:	2,96,59,660	1,78,82,320	1,17,77,340
Top CALL Open Interest:
Strike	OI	OI Change	Volume
85500	31,53,480	13,90,820	11,74,04,220
86000	28,97,700	7,35,260	3,90,21,400
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
85500	31,53,480	13,90,820	11,74,04,220
85000	23,55,860	11,74,260	20,05,66,760
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
87500	12,77,200	-2,27,900	1,17,22,800
87600	1,83,540	-1,50,160	19,36,960
Top CALL Volume:
Strike	OI	OI Change	Volume
85000	23,55,860	11,74,260	20,05,66,760
85200	20,49,480	10,61,740	13,46,34,800
Top PUT Open Interest:
Strike	OI	OI Change	Volume
83500	18,52,000	9,48,820	1,63,21,460
84000	18,48,900	5,95,520	3,89,16,280
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
84700	16,99,520	12,32,380	15,94,32,660
84800	16,41,400	11,01,360	17,86,10,300
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
85100	3,89,600	-2,22,200	4,57,92,320
85500	2,66,300	-1,72,620	49,65,960
Top PUT Volume:
Strike	OI	OI Change	Volume
84800	16,41,400	11,01,360	17,86,10,300
84700	16,99,520	12,32,380	15,94,32,660

NIFTY Weekly Expiry (13/01/2026)

The NIFTY index closed at 26140.75. The NIFTY weekly expiry for JANUARY 13, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.742 against previous 0.735. The 26500CE option holds the maximum open interest, followed by the 26200CE and 26300CE options. Market participants have shown increased interest with significant open interest additions in the 26200CE option, with open interest additions also seen in the 26150CE and 26100PE options. On the other hand, open interest reductions were prominent in the 26900CE, 26250PE, and 26300PE options. Trading volume was highest in the 26100PE option, followed by the 26200CE and 26150PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	13-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,140.75	0.742	0.735	0.986
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	13,08,30,440	8,93,23,195	4,15,07,245
PUT:	9,71,38,080	6,56,32,645	3,15,05,435
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,500	1,09,63,550	35,61,675	15,78,733
26,200	1,07,98,190	45,89,390	45,82,278
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,200	1,07,98,190	45,89,390	45,82,278
26,150	52,21,905	37,04,025	37,76,160
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,900	37,18,325	-8,28,945	6,09,628
24,800	5,655	-130	11
Top CALL Volume:
Strike	OI	OI Change	Volume
26,200	1,07,98,190	45,89,390	45,82,278
26,150	52,21,905	37,04,025	37,76,160
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,500	74,01,095	7,11,295	5,61,842
26,100	70,43,790	36,66,195	60,24,756
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
26,100	70,43,790	36,66,195	60,24,756
26,150	43,05,470	22,70,125	43,69,078
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,250	9,62,195	-2,04,295	8,37,295
26,300	22,32,360	-1,03,545	8,80,737
Top PUT Volume:
Strike	OI	OI Change	Volume
26,100	70,43,790	36,66,195	60,24,756
26,150	43,05,470	22,70,125	43,69,078

NIFTY Monthly Expiry (27/01/2026)

The NIFTY index closed at 26140.75. The NIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.010 against previous 1.022. The 26000PE option holds the maximum open interest, followed by the 27000CE and 26500CE options. Market participants have shown increased interest with significant open interest additions in the 25800PE option, with open interest additions also seen in the 26600CE and 26200CE options. On the other hand, open interest reductions were prominent in the 26000PE, 26800CE, and 26500PE options. Trading volume was highest in the 26500CE option, followed by the 26000PE and 27000CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,140.75	1.010	1.022	0.810
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,41,65,615	4,23,75,385	17,90,230
PUT:	4,45,94,030	4,33,15,740	12,78,290
Top CALL Open Interest:
Strike	OI	OI Change	Volume
27,000	58,35,830	4,17,170	97,755
26,500	44,78,305	83,980	1,19,891
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,600	24,33,340	6,73,725	48,417
26,200	28,13,655	5,71,610	71,932
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,800	18,69,725	-4,41,155	54,278
27,500	21,81,920	-1,53,140	18,419
Top CALL Volume:
Strike	OI	OI Change	Volume
26,500	44,78,305	83,980	1,19,891
27,000	58,35,830	4,17,170	97,755
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,000	59,03,170	-5,33,130	1,09,130
25,000	32,36,805	1,85,770	18,833
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,800	28,27,760	10,08,475	50,292
26,200	29,70,565	3,47,555	74,436
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,000	59,03,170	-5,33,130	1,09,130
26,500	16,07,840	-1,58,795	21,857
Top PUT Volume:
Strike	OI	OI Change	Volume
26,000	59,03,170	-5,33,130	1,09,130
26,200	29,70,565	3,47,555	74,436

BANKNIFTY Monthly Expiry (27/01/2026)

The BANKNIFTY index closed at 59990.85. The BANKNIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.050 against previous 1.112. 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 60500CE option, with open interest additions also seen in the 60000CE and 61000CE options. On the other hand, open interest reductions were prominent in the 60400PE, 60300PE, and 58000PE options. Trading volume was highest in the 60000PE option, followed by the 60000CE and 59900PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
59,990.85	1.050	1.112	1.022
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,21,11,510	1,16,04,870	5,06,640
PUT:	1,27,17,090	1,28,98,920	-1,81,830
Top CALL Open Interest:
Strike	OI	OI Change	Volume
59,500	14,19,750	-4,110	18,201
60,000	13,07,400	97,890	1,60,371
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
60,500	6,03,390	1,13,850	61,278
60,000	13,07,400	97,890	1,60,371
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
65,500	69,360	-19,680	2,252
61,900	49,740	-19,530	8,453
Top CALL Volume:
Strike	OI	OI Change	Volume
60,000	13,07,400	97,890	1,60,371
59,900	1,62,690	49,830	75,110
Top PUT Open Interest:
Strike	OI	OI Change	Volume
59,500	19,59,270	4,350	66,140
60,000	11,74,470	-29,910	1,86,964
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
52,000	1,06,020	37,890	3,425
59,900	2,02,140	29,700	85,502
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
60,400	87,510	-84,570	13,651
60,300	1,19,670	-70,050	32,502
Top PUT Volume:
Strike	OI	OI Change	Volume
60,000	11,74,470	-29,910	1,86,964
59,900	2,02,140	29,700	85,502

MIDCPNIFTY Monthly Expiry (27/01/2026)

The MIDCPNIFTY index closed at 14053.4. The MIDCPNIFTY monthly expiry for JANUARY 27, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.189 against previous 1.123. The 13700PE option holds the maximum open interest, followed by the 14500CE and 14000PE options. Market participants have shown increased interest with significant open interest additions in the 13700PE option, with open interest additions also seen in the 14100CE and 14000PE options. On the other hand, open interest reductions were prominent in the 69500PE, 70500CE, and 80500CE options. Trading volume was highest in the 14000PE option, followed by the 14100CE and 14000CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
14,053.40	1.189	1.123	1.082
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	67,18,680	58,86,360	8,32,320
PUT:	79,89,600	66,11,280	13,78,320
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,500	8,46,720	40,200	15,780
14,000	8,24,280	1,800	25,198
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
14,100	5,10,720	2,58,480	25,751
14,050	3,09,720	1,85,040	8,124
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
13,950	39,000	-48,960	1,811
13,975	9,240	-28,440	1,517
Top CALL Volume:
Strike	OI	OI Change	Volume
14,100	5,10,720	2,58,480	25,751
14,000	8,24,280	1,800	25,198
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,700	8,49,600	4,14,600	23,303
14,000	8,41,920	2,13,960	28,516
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,700	8,49,600	4,14,600	23,303
14,000	8,41,920	2,13,960	28,516
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,800	5,72,400	-66,480	7,337
13,200	3,82,680	-9,840	4,642
Top PUT Volume:
Strike	OI	OI Change	Volume
14,000	8,41,920	2,13,960	28,516
13,700	8,49,600	4,14,600	23,303

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

Open Interest Volume Analysis verdict: Rotation over direction: NIFTY/SENSEX shorts vs BANKNIFTY covering/MIDCPNIFTY longs in combined books—26,000-26,400 battleground continues.

Actionable relative plays: Long MIDCPNIFTY/short NIFTY spreads targeting 14,200/26,000; fade BANKNIFTY further weakness to 60,000.

Stay nimble on indices: Range trading rules—buy MIDCPNIFTY dips, short NIFTY rallies above 26,300.

Thursday edge: MIDCPNIFTY volume + OI growth = rotation leadership; NIFTY shorts + BANKNIFTY covering = 26,000 test—play the spread winners!

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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