NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 20/04/2026

Hey folks, if you’re diving into today’s NIFTY, BANKNIFTY, MIDCPNIFTY, and SENSEX futures and options data from April 20, 2026, the Open Interest Volume Analysis screams caution amid short covering and fresh shorts—NIFTY spot barely budged at 24364.85 (up 0.046%), but combined futures saw OI drop 1.69% with volume spiking 35.93%, pointing to profit-booking as April contracts unwind with long covering (-2.71% OI) and May builds fresh shorts (3.92% OI rise). PCRs are flipping bearish across weekly and monthly expiries, max pain hovering at 24300/24200 for NIFTY, while BANKNIFTY’s massive short cover (-6.44% combined OI) on 55% volume surge hints at exhaustion—let’s unpack this Open Interest Volume Analysis to spot your next trade.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24364.85 (0.046%)

Combined = April + May + June

Combined Fut Open Interest Change: -1.69%

Combined Fut Volume Change: 35.93%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 17% Previous 16%

NIFTY April Future closed at: 24331.8 (-0.149%)

April Fut Discount -33.05 (Decreased by -47.5 points)

April Fut Open Interest Change: -2.71%

April Fut Volume Change: 31.79%

April Fut Open Interest Analysis: Long Covering

NIFTY MAY Future closed at: 24471.3 (-0.119%)

May Fut Discount 106.45 (Decreased by -40.4 points)

May Fut Open Interest Change: 3.92%

May Fut Volume Change: 64.01%

May Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (21/04/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.103 (Increased from 1.018)

Put-Call Ratio (Volume): 0.912

Max Pain Level: 24300

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 23500

Highest CALL Addition: 25100

Highest PUT Addition: 23500

NIFTY Monthly Expiry (28/04/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.132 (Decreased from 1.158)

Put-Call Ratio (Volume): 0.919

Max Pain Level: 24200

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 21000

Highest CALL Addition: 26000

Highest PUT Addition: 23000

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 56582.35 (0.029%)

Combined = April + May + June

Combined Fut Open Interest Change: -6.44%

Combined Fut Volume Change: 55.02%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 26% Previous 24%

BANKNIFTY APRIL Future closed at: 56568.8 (-0.173%)

April Fut Discount -13.55 (Decreased by -114.65 points)

April Fut Open Interest Change: -9.2%

April Fut Volume Change: 59.4%

April Fut Open Interest Analysis: Long Covering

BANKNIFTY MAY Future closed at: 56887.2 (-0.073%)

May Fut Discount 304.85 (Decreased by -58.25 points)

May Fut Open Interest Change: 2.91%

May Fut Volume Change: 32.23%

May Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (28/04/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.014 (Increased from 0.955)

Put-Call Ratio (Volume): 0.965

Max Pain Level: 56000

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 55000

Highest CALL Addition: 57000

Highest PUT Addition: 57000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13807.25 (-0.228%)

Combined = April + May + June

Combined Fut Open Interest Change: -2.86%

Combined Fut Volume Change: -1.98%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 6% Previous 5%

MIDCPNIFTY APRIL Future closed at: 13785.25 (-0.462%)

April Fut Discount -22 (Decreased by -32.35 points)

April Fut Open Interest Change: -3.89%

April Fut Volume Change: -8.67%

April Fut Open Interest Analysis: Long Covering

MIDCPNIFTY MAY Future closed at: 13825 (-0.397%)

May Fut Discount 17.75 (Decreased by -23.45 points)

May Fut Open Interest Change: 16.04%

May Fut Volume Change: 62.90%

May Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY Monthly Expiry (28/04/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.222 (Increased from 1.211)

Put-Call Ratio (Volume): 0.888

Max Pain Level: 13500

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 12500

Highest CALL Addition: 14800

Highest PUT Addition: 12500

SENSEX Monthly Expiry (30/04/2026) Future

SENSEX Spot closed at: 78,520.30 (0.034%)

SENSEX Monthly Future closed at: 78,550.30 (-0.104%)

Premium: 30 (Decreased by -108.26 points)

Open Interest Change: -5.45%

Volume Change: 0.00%

Open Interest Analysis: Long Covering

SENSEX Weekly Expiry (23/04/2026) Option Analysis

Put-Call Ratio (OI): 1.221 (Decreased from 1.282)

Put-Call Ratio (Volume): 0.929

Max Pain Level: 78500

Maximum CALL OI: 82000

Maximum PUT OI: 75000

Highest CALL Addition: 82000

Highest PUT Addition: 75500

FII Derivatives Activity

FII Trading Stats	20.04.26	17.04.26	16.04.26
FII Cash (Provisional Data)		683.2	382.36
Index Future Open Interest Long Ratio	20.71%	20.80%	20.37%
Index Future Volume Long Ratio	51.96%	67.63%	52.96%
Call Option Open Interest Long Ratio	42.54%	43.74%	40.09%
Call Option Volume Long Ratio	49.76%	50.79%	49.41%
Put Option Open Interest Long Ratio	60.02%	61.55%	64.78%
Put Option Volume Long Ratio	49.85%	49.46%	50.53%
Stock Future Open Interest Long Ratio	56.96%	57.10%	57.03%
Stock Future Volume Long Ratio	48.58%	50.66%	48.70%
Index Futures	Short Covering	Short Covering	Short Covering
Index Options	Fresh Short	Fresh Long	Fresh Short
Nifty Futures	Short Covering	Short Covering	Short Covering
Nifty Options	Fresh Short	Fresh Long	Fresh Short
BankNifty Futures	Long Covering	Fresh Long	Long Covering
BankNifty Options	Fresh Short	Fresh Long	Fresh Long
FinNifty Futures	Long Covering	Fresh Short	Fresh Short
FinNifty Options	Long Covering	Fresh Long	Fresh Long
MidcpNifty Futures	Long Covering	Fresh Short	Short Covering
MidcpNifty Options	Long Covering	Fresh Short	Fresh Long
NiftyNxt50 Futures	Fresh Long	Fresh Long	Fresh Long
NiftyNxt50 Options	Short Covering	Fresh Short	Fresh Short
Stock Futures	Long Covering	Fresh Long	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 (23/04/2026)

The SENSEX index closed at 78520.3. The SENSEX weekly expiry for APRIL 23, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.221 against previous 1.282. The 82000CE option holds the maximum open interest, followed by the 75000PE and 78500PE options. Market participants have shown increased interest with significant open interest additions in the 82000CE option, with open interest additions also seen in the 75500PE and 78800CE options. On the other hand, open interest reductions were prominent in the 78300PE, 78100PE, and 78300CE options. Trading volume was highest in the 78500PE option, followed by the 79000CE and 78500CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	23-04-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
78520.3	1.221	1.282	0.929
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	88,81,280	73,61,220	15,20,060
PUT:	1,08,46,940	94,34,980	14,11,960
Top CALL Open Interest:
Strike	OI	OI Change	Volume
82000	6,56,600	2,08,700	62,84,420
78500	5,44,000	1,15,920	1,05,23,280
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
82000	6,56,600	2,08,700	62,84,420
78800	2,50,060	1,80,360	75,14,720
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
78300	93,000	-1,37,300	23,35,880
85000	2,39,200	-97,320	18,29,040
Top CALL Volume:
Strike	OI	OI Change	Volume
79000	2,82,120	23,660	1,08,27,100
78500	5,44,000	1,15,920	1,05,23,280
Top PUT Open Interest:
Strike	OI	OI Change	Volume
75000	6,26,860	-73,980	65,91,400
78500	5,86,300	1,57,200	1,22,48,160
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
75500	4,81,220	1,80,860	43,41,660
73500	4,17,560	1,62,380	35,26,980
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
78300	2,05,300	-1,65,080	48,33,400
78100	2,19,320	-1,55,520	31,18,600
Top PUT Volume:
Strike	OI	OI Change	Volume
78500	5,86,300	1,57,200	1,22,48,160
78000	5,73,280	62,080	1,01,25,300

NIFTY Weekly Expiry (21/04/2026)

The NIFTY index closed at 24364.85. The NIFTY weekly expiry for APRIL 21, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.103 against previous 1.018. The 25000CE option holds the maximum open interest, followed by the 23500PE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 23500PE option, with open interest additions also seen in the 25100CE and 23700PE options. On the other hand, open interest reductions were prominent in the 26500CE, 26000CE, and 25500CE options. Trading volume was highest in the 24500CE option, followed by the 24400CE and 24300PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	21-04-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,364.85	1.103	1.018	0.912
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	11,92,68,435	13,60,77,565	-1,68,09,130
PUT:	13,15,23,145	13,85,52,570	-70,29,425
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	1,13,92,225	-17,680	24,26,616
24,500	71,32,645	6,52,340	63,33,422
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,100	57,93,385	18,69,010	15,78,386
24,450	31,29,425	15,53,825	41,87,675
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,500	10,22,775	-48,20,400	2,98,871
26,000	24,93,920	-42,11,610	4,67,713
Top CALL Volume:
Strike	OI	OI Change	Volume
24,500	71,32,645	6,52,340	63,33,422
24,400	52,68,120	15,49,470	61,70,709
Top PUT Open Interest:
Strike	OI	OI Change	Volume
23,500	88,90,635	23,57,940	13,87,978
24,000	83,15,125	6,83,150	36,84,271
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
23,500	88,90,635	23,57,940	13,87,978
23,700	50,96,325	17,37,450	10,87,958
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,000	73,40,840	-30,39,140	8,56,916
22,700	11,91,320	-14,70,690	1,35,339
Top PUT Volume:
Strike	OI	OI Change	Volume
24,300	57,26,500	13,08,125	56,40,645
24,400	28,89,315	12,43,775	53,40,486

NIFTY Monthly Expiry (28/04/2026)

The NIFTY index closed at 24364.85. The NIFTY monthly expiry for APRIL 28, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.132 against previous 1.158. The 26000CE option holds the maximum open interest, followed by the 21000PE and 23000PE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 26500CE and 25500CE options. On the other hand, open interest reductions were prominent in the 25300CE, 27000CE, and 24200CE options. Trading volume was highest in the 25000CE option, followed by the 24500CE and 24400CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	28-04-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,364.85	1.132	1.158	0.919
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	7,03,56,455	6,07,00,315	96,56,140
PUT:	7,96,44,500	7,02,88,920	93,55,580
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	80,91,395	21,97,715	1,27,037
25,000	53,22,785	3,20,645	2,55,221
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	80,91,395	21,97,715	1,27,037
26,500	26,80,665	13,11,440	45,201
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,300	11,49,330	-5,17,855	1,01,170
27,000	12,71,920	-2,02,280	10,678
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	53,22,785	3,20,645	2,55,221
24,500	40,55,675	86,255	2,22,944
Top PUT Open Interest:
Strike	OI	OI Change	Volume
21,000	62,68,990	6,79,640	52,278
23,000	57,95,790	9,20,010	1,39,881
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
23,000	57,95,790	9,20,010	1,39,881
22,000	52,12,285	7,67,325	73,707
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,200	20,00,765	-92,430	1,00,046
23,850	1,78,945	-81,185	14,593
Top PUT Volume:
Strike	OI	OI Change	Volume
24,400	17,43,430	6,13,210	1,88,031
24,000	45,90,365	68,445	1,86,284

BANKNIFTY Monthly Expiry (28/04/2026)

The BANKNIFTY index closed at 56582.35. The BANKNIFTY monthly expiry for APRIL 28, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.014 against previous 0.955. The 60000CE option holds the maximum open interest, followed by the 59000CE and 61000CE options. Market participants have shown increased interest with significant open interest additions in the 57000PE option, with open interest additions also seen in the 52500PE and 53000PE options. On the other hand, open interest reductions were prominent in the 58000CE, 56000CE, and 60000CE options. Trading volume was highest in the 57000CE option, followed by the 58000CE and 60000CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	28-04-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
56,582.35	1.014	0.955	0.965
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,55,93,790	1,58,66,790	-2,73,000
PUT:	1,58,15,910	1,51,57,680	6,58,230
Top CALL Open Interest:
Strike	OI	OI Change	Volume
60,000	13,71,450	-1,08,420	1,13,818
59,000	8,68,290	72,150	91,096
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
57,000	7,79,490	1,06,110	1,89,470
61,000	8,67,360	1,02,210	61,024
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
58,000	6,50,850	-1,65,180	1,23,206
56,000	3,78,780	-1,21,410	29,931
Top CALL Volume:
Strike	OI	OI Change	Volume
57,000	7,79,490	1,06,110	1,89,470
58,000	6,50,850	-1,65,180	1,23,206
Top PUT Open Interest:
Strike	OI	OI Change	Volume
55,000	8,45,280	50,460	88,381
54,000	8,26,860	24,090	74,362
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
57,000	5,92,470	2,12,490	1,07,021
52,500	4,94,280	1,65,600	47,504
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
48,000	3,63,090	-62,430	19,690
56,000	5,70,510	-61,140	99,063
Top PUT Volume:
Strike	OI	OI Change	Volume
57,000	5,92,470	2,12,490	1,07,021
56,500	5,39,340	17,430	1,00,755

MIDCPNIFTY Monthly Expiry (28/04/2026)

The MIDCPNIFTY index closed at 13807.25. The MIDCPNIFTY monthly expiry for APRIL 28, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.222 against previous 1.211. The 12500PE option holds the maximum open interest, followed by the 13500PE and 14000CE options. Market participants have shown increased interest with significant open interest additions in the 12500PE option, with open interest additions also seen in the 14800CE and 13900CE options. On the other hand, open interest reductions were prominent in the 70000CE, 70500CE, and 68000CE options. Trading volume was highest in the 14000CE option, followed by the 13800PE and 14500CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	28-04-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,807.25	1.222	1.211	0.888
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	58,44,480	59,05,800	-61,320
PUT:	71,43,960	71,51,640	-7,680
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	5,28,240	-13,080	15,099
14,500	4,99,320	-70,080	12,440
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
14,800	1,33,680	1,00,560	2,535
13,900	1,74,120	60,720	12,362
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,500	4,99,320	-70,080	12,440
14,300	4,18,080	-65,760	10,561
Top CALL Volume:
Strike	OI	OI Change	Volume
14,000	5,28,240	-13,080	15,099
14,500	4,99,320	-70,080	12,440
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,500	6,49,680	1,11,000	3,906
13,500	5,50,080	-14,520	9,802
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,500	6,49,680	1,11,000	3,906
12,400	2,07,840	60,000	2,720
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,300	3,30,360	-87,240	5,485
13,000	4,81,440	-60,360	8,726
Top PUT Volume:
Strike	OI	OI Change	Volume
13,800	2,25,360	10,320	12,482
13,500	5,50,080	-14,520	9,802

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

Wrapping up this deep Open Interest Volume Analysis for April 20, 2026, the data paints a bearish tilt with rampant long covering in April contracts (NIFTY -2.71%, BANKNIFTY -9.2%, MIDCPNIFTY -3.89%, SENSEX -5.45%) fueling discounts and fresh shorts piling into May across indices—pair that with PCRs above 1 (NIFTY weekly 1.103, monthly 1.132; BANKNIFTY 1.014; MIDCPNIFTY 1.222) and max pain levels pinning downside (24300 NIFTY weekly, 56000 BANKNIFTY), volume surges like BANKNIFTY’s 55% scream momentum fade. Actionable moves? Stay short-biased on NIFTY below 24400 with stops at 24500, eyeing 24200 pain; BANKNIFTY sellers defend 56500 for 56000 test—avoid fresh calls until May OI unwinds, rollovers low at 17%/26%/6% signal weak hands exiting. Trade smart, watch Tuesday open for VIX spikes!

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