NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 29/04/2026

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Open Interest Volume Analysis

Today’s Open Interest Volume Analysis reflects a selective bullish undertone in index derivatives, but the conviction is far from broad-based — and that’s where traders need to stay alert.

In NIFTY 50 Futures, despite marginal OI build-up (+0.09%), the price rise with declining volume (-4.73%) signals weak participation, indicating that the up-move lacks aggressive institutional backing.

Options data adds another layer — PCR-OI rising sharply (0.788 → 0.932) and Put writing at 24200 (Max Pain zone) suggests strong near-term support, but heavy Call addition at 24300 caps upside, creating a tight range-bound battlefield (24200–24300) for weekly expiry.

In Bank Nifty, the divergence is more pronounced — while combined data shows “fresh longs,” both May & June futures indicate fresh short build-up, exposing distribution at higher levels rather than accumulation, which weakens bullish conviction.

Meanwhile, MIDCPNIFTY is showing clear signs of exhaustion, with long unwinding in near month and fresh shorts in next series, confirming that broader market participation is deteriorating beneath headline indices.

Overall, this Open Interest Volume Analysis suggests a market that is structurally supported but tactically fragile, where expiry dynamics and rollover flows are dominating over genuine trend-building activity.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24177.65 (0.758%)

Combined = May + June + July

Combined Fut Open Interest Change: 0.09%

Combined Fut Volume Change: -4.73%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 9% Previous 8%

NIFTY MAY Future closed at: 24252 (0.760%)

May Fut Premium 74.35 (Increased by 1.05 points)

May Fut Open Interest Change: -0.77%

May Fut Volume Change: -8.12%

May Fut Open Interest Analysis: Short Covering

NIFTY JUNE Future closed at: 24379.5 (0.735%)

June Fut Premium 201.85 (Decreased by -3.95 points)

June Fut Open Interest Change: 5.86%

June Fut Volume Change: 24.30%

June Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (5/05/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.932 (Increased from 0.788)

Put-Call Ratio (Volume): 0.884

Max Pain Level: 24200

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 23000

Highest CALL Addition: 24300

Highest PUT Addition: 24200

NIFTY Monthly Expiry (26/05/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.139 (Increased from 1.126)

Put-Call Ratio (Volume): 0.970

Max Pain Level: 24500

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 25500

Highest PUT Addition: 23500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 55403.6 (0.006%)

Combined = May + June + July

Combined Fut Open Interest Change: 1.39%

Combined Fut Volume Change: -1.91%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 9% Previous 8%

BANKNIFTY MAY Future closed at: 55613.8 (-0.236%)

May Fut Premium 210.2 (Decreased by -134.65 points)

May Fut Open Interest Change: 0.5%

May Fut Volume Change: -2.8%

May Fut Open Interest Analysis: Fresh Short

BANKNIFTY JUNE Future closed at: 55853.4 (-0.208%)

June Fut Premium 449.8 (Decreased by -119.45 points)

June Fut Open Interest Change: 6.76%

June Fut Volume Change: -13.41%

June Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (26/05/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.914 (Decreased from 0.949)

Put-Call Ratio (Volume): 0.849

Max Pain Level: 56600

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 60000

Highest CALL Addition: 60000

Highest PUT Addition: 52000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13932.7 (-0.311%)

Combined = May + June + July

Combined Fut Open Interest Change: -0.50%

Combined Fut Volume Change: -33.61%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 2% Previous 2%

MIDCPNIFTY MAY Future closed at: 13953.25 (-0.645%)

May Fut Premium 20.55 (Decreased by -47.1 points)

May Fut Open Interest Change: -0.71%

May Fut Volume Change: -36.53%

May Fut Open Interest Analysis: Long Covering

MIDCPNIFTY JUNE Future closed at: 14000.9 (-0.472%)

June Fut Premium 68.2 (Decreased by -23 points)

June Fut Open Interest Change: 10.44%

June Fut Volume Change: 90.60%

June Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY Monthly Expiry (26/05/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.038 (Increased from 1.032)

Put-Call Ratio (Volume): 0.798

Max Pain Level: 14000

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13500

Highest CALL Addition: 15400

Highest PUT Addition: 12500

SENSEX Monthly Expiry (30/04/2026) Future

SENSEX Spot closed at: 77,496.36 (0.793%)

SENSEX Monthly Future closed at: 77,516.20 (0.739%)

Premium: 19.84 (Decreased by -40.5 points)

Open Interest Change: -19.89%

Volume Change: 62.15%

Open Interest Analysis: Short Covering

SENSEX Weekly Expiry (30/04/2026) Option Analysis

Put-Call Ratio (OI): 0.906 (Increased from 0.808)

Put-Call Ratio (Volume): 0.978

Max Pain Level: 77500

Maximum CALL OI: 79000

Maximum PUT OI: 75000

Highest CALL Addition: 80500

Highest PUT Addition: 77500

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 2,468.42 Cr.

DIIs Net BUY: ₹ 2,262.17 Cr.

FII Derivatives Activity

FII Trading Stats29.04.2628.04.2627.04.26
FII Cash (Provisional Data)-2,468.42-2,103.74-1,151.48
    
Index Future Open Interest Long Ratio12.61%13.08%19.47%
Index Future Volume Long Ratio49.42%40.39%49.38%
Call Option Open Interest Long Ratio36.55%35.86%42.93%
Call Option Volume Long Ratio49.80%49.72%50.13%
Put Option Open Interest Long Ratio67.12%69.95%60.49%
Put Option Volume Long Ratio49.86%50.10%49.70%
Stock Future Open Interest Long Ratio55.73%55.57%56.07%
Stock Future Volume Long Ratio50.66%48.32%50.43%
    
Index FuturesLong CoveringLong CoveringFresh Short
Index OptionsFresh ShortLong CoveringFresh Short
    
Nifty FuturesShort CoveringLong CoveringFresh Short
Nifty OptionsFresh ShortLong CoveringFresh Short
    
BankNifty FuturesFresh ShortLong CoveringFresh Long
BankNifty OptionsFresh LongLong CoveringFresh Short
    
FinNifty FuturesFresh ShortLong CoveringFresh Short
FinNifty OptionsFresh LongShort CoveringFresh Long
    
MidcpNifty FuturesShort CoveringLong CoveringShort Covering
MidcpNifty OptionsFresh LongLong CoveringLong Covering
    
NiftyNxt50 FuturesLong CoveringLong CoveringFresh Long
NiftyNxt50 OptionsLong CoveringShort CoveringFresh Long
    
Stock FuturesFresh LongLong CoveringFresh Long
Stock OptionsFresh ShortLong CoveringLong 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

SENSEX weekly Expiry (30/04/2026)

The SENSEX index closed at 77496.36. The SENSEX weekly expiry for APRIL 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.906 against previous 0.808. The 79000CE option holds the maximum open interest, followed by the 80000CE and 75000PE options. Market participants have shown increased interest with significant open interest additions in the 77500PE option, with open interest additions also seen in the 76000PE and 80500CE options. On the other hand, open interest reductions were prominent in the 77000CE, 74400PE, and 70000PE options. Trading volume was highest in the 78000CE option, followed by the 77000PE and 77500PE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:30-04-2026
Index SpotPCR OIPrev PCR OIPCR VOL
77496.360.9060.8080.978
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  2,89,23,920    2,10,40,840           78,83,080
PUT:  2,62,08,860    1,69,93,320           92,15,540
Top CALL Open Interest:
StrikeOIOI ChangeVolume
79000      20,72,660          6,95,820        7,03,43,240
80000      19,13,860          4,17,880        3,25,07,440
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
80500      14,83,260          7,28,000        1,62,04,420
79000      20,72,660          6,95,820        7,03,43,240
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
77000        3,81,540        -6,39,500        1,12,14,960
77100            83,880        -2,55,220           74,56,360
Top CALL Volume:
StrikeOIOI ChangeVolume
78000      15,77,320          4,78,360     11,31,65,760
78500      14,33,520          5,87,760        8,07,35,320
Top PUT Open Interest:
StrikeOIOI ChangeVolume
75000      16,74,020          6,37,020        2,23,63,040
76000      15,20,980          7,49,740        4,13,11,500
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
77500      10,28,160          7,77,720        9,36,35,640
76000      15,20,980          7,49,740        4,13,11,500
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
74400        1,93,880        -2,85,460           29,42,420
70000        2,81,680        -2,78,320           18,50,380
Top PUT Volume:
StrikeOIOI ChangeVolume
77000      14,57,760          7,16,300        9,88,70,480
77500      10,28,160          7,77,720        9,36,35,640

NIFTY Weekly Expiry (5/05/2026)

The NIFTY index closed at 24177.65. The NIFTY weekly expiry for MAY 5, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.932 against previous 0.788. The 25000CE option holds the maximum open interest, followed by the 24500CE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 24300CE option, with open interest additions also seen in the 24200PE and 24500CE options. On the other hand, open interest reductions were prominent in the 24000CE, 25200CE, and 24100CE options. Trading volume was highest in the 24300CE option, followed by the 24200PE and 24200CE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:05-05-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,177.65                0.932                  0.788               0.884
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    9,23,99,125      7,29,91,555   1,94,07,570
 PUT:    8,61,35,595      5,75,26,950   2,86,08,645
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               25,000       67,44,790            6,39,145       10,99,120
               24,500       66,57,690         23,35,060       17,71,310
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,300       48,24,235         30,37,060       21,48,793
               24,500       66,57,690         23,35,060       17,71,310
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,000       21,28,750        -16,20,125         5,82,381
               25,200       29,15,250          -8,16,465         3,96,161
 Top CALL Volume:
 Strike OI OI Change Volume
               24,300       48,24,235         30,37,060       21,48,793
               24,200       40,79,985         11,11,760       18,74,173
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               23,000       51,09,845          -1,22,590         4,67,865
               24,000       51,03,085         14,69,325       17,25,857
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,200       37,58,105         24,13,840       19,69,245
               23,800       37,01,945         20,06,420         7,79,872
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,600       17,90,165          -5,32,350         4,59,170
               24,500          9,23,260          -1,33,640         2,55,237
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,200       37,58,105         24,13,840       19,69,245
               24,300       25,74,650         17,87,760       18,13,230

NIFTY Monthly Expiry (26/05/2026)

The NIFTY index closed at 24177.65. The NIFTY monthly expiry for MAY 26, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.139 against previous 1.126. The 25000CE option holds the maximum open interest, followed by the 24000PE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 23500PE option, with open interest additions also seen in the 25500CE and 24000PE options. On the other hand, open interest reductions were prominent in the 23000PE, 24000CE, and 25000CE options. Trading volume was highest in the 24000PE option, followed by the 25000CE and 24500CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:26-05-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,177.65                1.139                  1.126               0.970
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    3,25,99,190      3,19,97,745         6,01,445
 PUT:    3,71,14,350      3,60,15,135       10,99,215
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               25,000       41,84,895          -2,14,435             82,254
               26,000       37,86,185               20,475             52,313
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               25,500       25,38,380            1,72,965             52,954
               24,700          5,37,680            1,22,460             13,045
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,000       28,65,850          -2,29,450             41,998
               25,000       41,84,895          -2,14,435             82,254
 Top CALL Volume:
 Strike OI OI Change Volume
               25,000       41,84,895          -2,14,435             82,254
               24,500       31,63,875               68,120             77,231
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       38,42,085            1,51,840             90,633
               24,500       30,14,440               43,290             32,701
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,500       25,42,215            1,97,990             51,378
               24,000       38,42,085            1,51,840             90,633
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,000       29,14,405          -2,36,535             58,663
               21,500          8,42,270          -1,33,965             15,242
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,000       38,42,085            1,51,840             90,633
               23,000       29,14,405          -2,36,535             58,663

BANKNIFTY Monthly Expiry (26/05/2026)

The BANKNIFTY index closed at 55403.6. The BANKNIFTY monthly expiry for MAY 26, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.914 against previous 0.949. The 60000CE option holds the maximum open interest, followed by the 60000PE and 56000PE options. Market participants have shown increased interest with significant open interest additions in the 60000CE option, with open interest additions also seen in the 59000CE and 58500CE options. On the other hand, open interest reductions were prominent in the 55800PE, 50000CE, and 47000PE options. Trading volume was highest in the 56000CE option, followed by the 56000PE and 60000CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:26-05-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         55,403.60                0.914                  0.949               0.849
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,00,56,060         82,40,340       18,15,720
 PUT:       91,91,640         78,17,430       13,74,210
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               60,000       19,15,560            2,18,910             72,174
               56,000          7,95,090               70,560             89,890
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               60,000       19,15,560            2,18,910             72,174
               59,000          5,33,820            1,06,500             47,172
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               50,000             54,120                -4,380                   316
               62,500             34,860                -3,540               3,167
 Top CALL Volume:
 Strike OI OI Change Volume
               56,000          7,95,090               70,560             89,890
               60,000       19,15,560            2,18,910             72,174
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               60,000       11,54,220               50,100               4,056
               56,000          8,32,710                  5,340             79,658
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               52,000          3,55,710               74,250             29,584
               55,600             91,860               70,050             33,587
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               55,800             63,390              -27,240             35,556
               47,000             40,860                -3,780               3,334
 Top PUT Volume: 
 Strike OI OI Change Volume
               56,000          8,32,710                  5,340             79,658
               55,500          3,34,950               51,450             70,523

MIDCPNIFTY Monthly Expiry (26/05/2026)

The MIDCPNIFTY index closed at 13932.7. The MIDCPNIFTY monthly expiry for MAY 26, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.038 against previous 1.032. The 13500PE option holds the maximum open interest, followed by the 14000CE and 15000CE options. Market participants have shown increased interest with significant open interest additions in the 15400CE option, with open interest additions also seen in the 12500PE and 14500CE options. On the other hand, open interest reductions were prominent in the 58800CE, 58800CE, and 58800PE options. Trading volume was highest in the 14500CE option, followed by the 15000CE and 14000CE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:26-05-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         13,932.70                1.038                  1.032               0.798
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       25,40,280         15,58,800         9,81,480
 PUT:       26,37,720         16,08,960       10,28,760
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               14,000          4,00,800               96,600               9,350
               15,000          3,70,920            1,45,920               9,556
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               15,400          3,08,760            1,73,520               4,358
               14,500          3,43,560            1,51,680             14,023
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               13,900             67,560              -39,360               1,886
               14,700          1,29,000                -6,240               2,530
 Top CALL Volume:
 Strike OI OI Change Volume
               14,500          3,43,560            1,51,680             14,023
               15,000          3,70,920            1,45,920               9,556
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,500          4,05,480            1,37,280               6,165
               12,500          3,66,720            1,61,640               4,304
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               12,500          3,66,720            1,61,640               4,304
               13,500          4,05,480            1,37,280               6,165
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               11,500             45,360                -2,880                   256
               12,275                1,800                    -480                     27
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,000          3,46,920               43,320               9,202
               13,000          2,55,480               15,240               7,617

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

Summing up this Open Interest Volume Analysis, the market is currently in a controlled bullish structure but lacks momentum confirmation, making it a trader’s market rather than a positional investor’s comfort zone.

BANKNIFTY remains the key risk factor, as persistent fresh short build-up in both series signals institutional hedging or outright bearish bets, increasing the probability of sudden downside volatility if support breaks.

MIDCAP weakness is a red flag — historically, sustained rallies are backed by broader participation, and the current long unwinding + fresh shorts combo indicates risk-off sentiment building under the surface.

Traders should adopt a “buy on dips near support” approach but avoid chasing breakouts without volume confirmation, as false breakouts are highly probable in such low-volume environments.

Keep a close watch on PCR behavior and Call writing shifts, because any aggressive unwinding of Calls above 24300 could trigger a short-covering rally, while sustained Call addition will keep markets range-bound or slightly bearish.

The key caution from this Open Interest Volume Analysis: this is not a clean bullish trend — it is a rollover-driven, liquidity-light rally, and such phases often precede sharp, unexpected moves on either side.

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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