NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 8/01/2026

Markets cratered today with NIFTY plunging 1.01% on monster volume, and this Open Interest Volume Analysis across combined futures (Jan+Feb+Mar) screams aggressive short positioning taking complete control—NIFTY/SENSEX shorts exploding while others cover longs frantically.

NIFTY combined futures short avalanche: +15.72% OI surge on +94% volume roar with 1% drop is pure bear domination—January/February both +15-16% confirm conviction.

BANKNIFTY long panic covering: -6.87% combined OI plunge shows bulls bailing fast amid downside—premiums up means shorts paying to enter.

MIDCPNIFTY massive unwind: -10.82% combined OI explosion on +159% volume marks midcap longs fleeing—premiums collapsing.

SENSEX shorts pile higher: +18.83% combined OI seals broad market bear reload with conviction.

PCR collapses bullish: NIFTY weekly crashes to 0.505, all max pains 26,000-26,100—call dominance as puts get crushed.

Premium rebound confirms shorts: Futures gaining value despite price crash—classic institutional short squeeze setup.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 25876.85 (-1.010%)

Combined = January + February + March

Combined Fut Open Interest Change: 15.72%

Combined Fut Volume Change: 93.51%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 11% Previous 10%

NIFTY JANUARY Future closed at: 25985.6 (-0.952%)

January Fut Premium 108.75 (Increased by 14.2 points)

January Fut Open Interest Change: 15.55%

January Fut Volume Change: 93.67%

January Fut Open Interest Analysis: Fresh Short

NIFTY FEBRUARY Future closed at: 26128.1 (-0.961%)

February Fut Premium 251.25 (Increased by 10.3 points)

February Fut Open Interest Change: 16.10%

February Fut Volume Change: 98.02%

February Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.505 (Decreased from 0.742)

Put-Call Ratio (Volume): 0.962

Max Pain Level: 26000

Maximum CALL Open Interest: 26200

Maximum PUT Open Interest: 25500

Highest CALL Addition: 26000

Highest PUT Addition: 25600

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

Put-Call Ratio (Open Interest): 0.958 (Decreased from 1.010)

Put-Call Ratio (Volume): 0.905

Max Pain Level: 26100

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 26000

Highest CALL Addition: 26000

Highest PUT Addition: 25600

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 59686.5 (-0.507%)

Combined = January + February + March

Combined Fut Open Interest Change: -6.87%

Combined Fut Volume Change: 14.23%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 10% Previous 9%

BANKNIFTY JANUARY Future closed at: 59885.2 (-0.475%)

January Fut Premium 198.7 (Increased by 18.35 points)

January Fut Open Interest Change: -8.2%

January Fut Volume Change: 13.8%

January Fut Open Interest Analysis: Long Covering

BANKNIFTY FEBRUARY Future closed at: 60241.4 (-0.451%)

February Fut Premium 554.9 (Increased by 31.15 points)

February Fut Open Interest Change: 1.36%

February Fut Volume Change: 12.79%

February Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.944 (Decreased from 1.050)

Put-Call Ratio (Volume): 1.043

Max Pain Level: 59700

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 59500

Highest CALL Addition: 60000

Highest PUT Addition: 59800

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13759.6 (-2.091%)

Combined = January + February + March

Combined Fut Open Interest Change: -10.82%

Combined Fut Volume Change: 158.62%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 4% Previous 3%

MIDCPNIFTY JANUARY Future closed at: 13795.85 (-2.250%)

January Fut Premium 36.25 (Decreased by -23.75 points)

January Fut Open Interest Change: -11.88%

January Fut Volume Change: 160.18%

January Fut Open Interest Analysis: Long Covering

MIDCPNIFTY FEBRUARY Future closed at: 13863.95 (-2.190%)

February Fut Premium 104.35 (Decreased by -16.65 points)

February Fut Open Interest Change: 19.71%

February Fut Volume Change: 138.67%

February Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.941 (Decreased from 1.189)

Put-Call Ratio (Volume): 0.938

Max Pain Level: 13900

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 14000

Highest PUT Addition: 13000

SENSEX Monthly Expiry (29/01/2026) Future

SENSEX Spot closed at: 84,180.96 (-0.918%)

SENSEX Monthly Future closed at: 84,675.30 (-0.849%)

Premium: 494.34 (Increased by 54.88 points)

Open Interest Change: 18.83%

Volume Change: 74.35%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (15/01/2026) Option Analysis

Put-Call Ratio (OI): 0.534 (Decreased from 0.635)

Put-Call Ratio (Volume): 0.875

Max Pain Level: 84500

Maximum CALL OI: 85000

Maximum PUT OI: 84000

Highest CALL Addition: 84500

Highest PUT Addition: 84000

FII Trading Stats	8.01.26	7.01.26	6.01.26
FII Cash (Provisional Data)	-3,367.12	-1,527.71	-107.63
Index Future Open Interest Long Ratio	8.70%	10.12%	12.73%
Index Future Volume Long Ratio	26.45%	35.99%	57.68%
Call Option Open Interest Long Ratio	46.77%	51.04%	52.24%
Call Option Volume Long Ratio	49.34%	49.86%	49.61%
Put Option Open Interest Long Ratio	60.99%	61.13%	62.48%
Put Option Volume Long Ratio	50.21%	50.05%	49.91%
Stock Future Open Interest Long Ratio	61.71%	62.23%	62.45%
Stock Future Volume Long Ratio	46.15%	48.19%	45.31%
Index Futures	Fresh Short	Long Covering	Fresh Long
Index Options	Fresh Short	Fresh Short	Short Covering
Nifty Futures	Fresh Short	Long Covering	Fresh Short
Nifty Options	Fresh Short	Fresh Short	Short Covering
BankNifty Futures	Long Covering	Long Covering	Fresh Long
BankNifty Options	Fresh Long	Fresh Long	Fresh Short
FinNifty Futures	Long Covering	Long Covering	Short Covering
FinNifty Options	Short Covering	Short Covering	Fresh Long
MidcpNifty Futures	Fresh Long	Fresh Short	Short Covering
MidcpNifty Options	Fresh Long	Fresh Short	Fresh Long
NiftyNxt50 Futures	Long Covering	Long Covering	Long Covering
NiftyNxt50 Options	Long Covering	Fresh Long	Fresh Long
Stock Futures	Long Covering	Fresh Short	Fresh Short
Stock Options	Fresh Long	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 (15/01/2026)

The SENSEX index closed at 84180.96. The SENSEX weekly expiry for JANUARY 15, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.534 against previous 0.635. The 85000CE option holds the maximum open interest, followed by the 87000CE and 85500CE options. Market participants have shown increased interest with significant open interest additions in the 84500CE option, with open interest additions also seen in the 88000CE and 85000CE options. On the other hand, open interest reductions were prominent in the 85500PE, 85100PE, and 86400CE options. Trading volume was highest in the 85000CE option, followed by the 84000PE and 84500PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	15-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
84180.96	0.534	0.635	0.875
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	68,49,960	24,00,500	44,49,460
PUT:	36,59,620	15,24,680	21,34,940
Top CALL Open Interest:
Strike	OI	OI Change	Volume
85000	5,41,440	3,49,040	33,05,520
87000	5,35,580	2,32,160	18,91,700
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
84500	4,30,760	4,00,800	21,54,080
88000	4,93,340	3,73,400	19,12,740
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
86400	45,080	-12,180	2,80,500
92800	460	-80	700
Top CALL Volume:
Strike	OI	OI Change	Volume
85000	5,41,440	3,49,040	33,05,520
85500	5,22,960	3,00,820	21,55,340
Top PUT Open Interest:
Strike	OI	OI Change	Volume
84000	3,28,020	1,71,220	28,37,260
84500	2,67,720	79,700	28,09,060
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
84000	3,28,020	1,71,220	28,37,260
80000	2,07,660	1,65,620	7,46,720
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
85500	1,12,880	-22,180	1,74,780
85100	17,340	-20,740	1,60,960
Top PUT Volume:
Strike	OI	OI Change	Volume
84000	3,28,020	1,71,220	28,37,260
84500	2,67,720	79,700	28,09,060

NIFTY Weekly Expiry (13/01/2026)

The NIFTY index closed at 25876.85. The NIFTY weekly expiry for JANUARY 13, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.505 against previous 0.742. The 26200CE option holds the maximum open interest, followed by the 26100CE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 26100CE and 26200CE options. On the other hand, open interest reductions were prominent in the 26100PE, 26150PE, and 26200PE options. Trading volume was highest in the 26000PE option, followed by the 25900PE and 26100CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	13-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,876.85	0.505	0.742	0.962
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	22,04,98,460	13,08,30,440	8,96,68,020
PUT:	11,12,78,570	9,71,38,080	1,41,40,490
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,200	1,76,13,115	68,14,925	24,88,971
26,100	1,54,14,165	1,05,65,750	37,84,200
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	1,39,27,550	1,16,86,285	31,94,751
26,100	1,54,14,165	1,05,65,750	37,84,200
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,600	25,81,215	-3,73,620	1,71,356
26,850	15,31,660	-1,13,490	7,30,986
Top CALL Volume:
Strike	OI	OI Change	Volume
26,100	1,54,14,165	1,05,65,750	37,84,200
26,000	1,39,27,550	1,16,86,285	31,94,751
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,500	92,13,425	18,12,330	12,23,959
25,700	82,31,340	20,57,250	14,99,508
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,600	59,32,355	27,06,210	10,93,728
25,000	65,22,555	24,65,580	8,57,530
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,100	38,13,355	-32,30,435	32,50,079
26,150	11,70,260	-31,35,210	11,48,608
Top PUT Volume:
Strike	OI	OI Change	Volume
26,000	47,77,305	-20,51,465	39,93,885
25,900	60,50,330	20,96,380	38,87,608

NIFTY Monthly Expiry (27/01/2026)

The NIFTY index closed at 25876.85. The NIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.958 against previous 1.010. The 26000PE option holds the maximum open interest, followed by the 26000CE and 27000CE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 25600PE and 26200CE options. On the other hand, open interest reductions were prominent in the 26700CE, 26600CE, and 25800PE options. Trading volume was highest in the 26000PE option, followed by the 26500CE and 26000CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,876.85	0.958	1.010	0.905
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,65,72,890	4,41,65,615	24,07,275
PUT:	4,46,39,595	4,45,94,030	45,565
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	61,13,250	18,42,035	1,46,605
27,000	55,34,620	-3,01,210	85,007
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	61,13,250	18,42,035	1,46,605
26,200	36,63,205	8,49,550	1,00,021
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,700	12,16,215	-13,28,470	72,303
26,600	13,40,690	-10,92,650	76,797
Top CALL Volume:
Strike	OI	OI Change	Volume
26,500	51,30,515	6,52,210	1,58,733
26,000	61,13,250	18,42,035	1,46,605
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,000	61,42,565	2,39,395	2,12,072
25,000	34,35,185	1,98,380	48,810
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,600	21,77,045	8,80,555	58,077
25,700	14,83,820	2,73,650	52,501
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,800	23,49,425	-4,78,335	1,00,073
26,300	19,31,345	-2,42,255	29,136
Top PUT Volume:
Strike	OI	OI Change	Volume
26,000	61,42,565	2,39,395	2,12,072
25,800	23,49,425	-4,78,335	1,00,073

BANKNIFTY Monthly Expiry (27/01/2026)

The BANKNIFTY index closed at 59686.5. The BANKNIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.944 against previous 1.050. The 59500PE option holds the maximum open interest, followed by the 60000CE and 59500CE options. Market participants have shown increased interest with significant open interest additions in the 60000CE option, with open interest additions also seen in the 59700CE and 59800CE options. On the other hand, open interest reductions were prominent in the 60000PE, 58000PE, and 55000PE options. Trading volume was highest in the 60000CE option, followed by the 60000PE and 59500PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
59,686.50	0.944	1.050	1.043
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,27,71,570	1,21,11,510	6,60,060
PUT:	1,20,57,570	1,27,17,090	-6,59,520
Top CALL Open Interest:
Strike	OI	OI Change	Volume
60,000	14,67,510	1,60,110	2,06,532
59,500	13,99,260	-20,490	44,161
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
60,000	14,67,510	1,60,110	2,06,532
59,700	1,90,200	83,490	58,009
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
64,500	88,890	-22,770	10,283
62,400	62,910	-22,740	6,306
Top CALL Volume:
Strike	OI	OI Change	Volume
60,000	14,67,510	1,60,110	2,06,532
59,900	2,26,140	63,450	81,106
Top PUT Open Interest:
Strike	OI	OI Change	Volume
59,500	18,99,870	-59,400	1,16,091
59,000	10,62,150	1,620	94,484
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
59,800	2,48,400	45,540	90,358
56,000	4,24,620	36,240	19,346
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
60,000	10,41,270	-1,33,200	1,85,830
58,000	6,87,990	-85,200	54,426
Top PUT Volume:
Strike	OI	OI Change	Volume
60,000	10,41,270	-1,33,200	1,85,830
59,500	18,99,870	-59,400	1,16,091

MIDCPNIFTY Monthly Expiry (27/01/2026)

The MIDCPNIFTY index closed at 13759.6. The MIDCPNIFTY monthly expiry for JANUARY 27, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.941 against previous 1.189. The 14000CE option holds the maximum open interest, followed by the 14500CE and 13000PE options. Market participants have shown increased interest with significant open interest additions in the 14000CE option, with open interest additions also seen in the 13000PE and 14100CE options. On the other hand, open interest reductions were prominent in the 70000PE, 69000PE, and 69900PE options. Trading volume was highest in the 14000CE option, followed by the 14000PE and 14500CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,759.60	0.941	1.189	0.938
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	77,91,600	67,18,680	10,72,920
PUT:	73,28,400	79,89,600	-6,61,200
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	10,88,880	2,64,600	39,838
14,500	8,20,200	-26,520	24,182
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
14,000	10,88,880	2,64,600	39,838
14,100	6,56,640	1,45,920	21,611
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,400	3,67,320	-1,50,120	16,942
14,300	2,47,320	-64,320	13,580
Top CALL Volume:
Strike	OI	OI Change	Volume
14,000	10,88,880	2,64,600	39,838
14,500	8,20,200	-26,520	24,182
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	7,71,720	2,50,920	15,348
14,000	7,01,400	-1,40,520	26,087
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,000	7,71,720	2,50,920	15,348
13,300	4,98,840	93,120	10,852
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,700	5,94,960	-2,54,640	16,058
14,000	7,01,400	-1,40,520	26,087
Top PUT Volume:
Strike	OI	OI Change	Volume
14,000	7,01,400	-1,40,520	26,087
13,800	4,80,840	-91,560	20,729

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

Open Interest Volume Analysis verdict: Bears in full control: Massive combined short buildups everywhere except covering panics—downside momentum locked in.

Actionable short bias trades: Short NIFTY rallies to 26,000 with 26,200 stops targeting 25,500; put debit spreads 26,000/25,500—SENSEX shorts alpha.

Fade bounces ruthlessly: Covering looks desperate, not bullish—avoid longs till OI unwinds.

Friday trigger: Volume sustain + OI growth = 25,300 path; PCR rebound + covering = tactical bounce—stay short-biased!

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