NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 30/04/2026

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Open Interest Volume Analysis

Today’s Open Interest Volume Analysis clearly signals a broad-based bearish undertone across indices, but with a nuanced twist that traders must not ignore.

Despite NIFTY slipping to 23997 and BANKNIFTY correcting nearly 1%, the consistent rise in Open Interest along with price decline confirms aggressive “Fresh Short” build-up across NIFTY, BANKNIFTY, MIDCPNIFTY, and even SENSEX futures.

What makes this Open Interest Volume Analysis more critical is the sharp rise in futures premium, indicating that shorts are not panic-driven but rather positional and well-structured, possibly expecting further downside or at least resistance at higher levels.

Option data adds another layer of caution—weekly PCR falling below 1 (0.872) with heavy CALL addition at 24000 suggests immediate upside supply, while PUT additions at 23200 indicate limited downside protection, not strong support.

On the monthly side, although PCR remains slightly bullish (>1), the declining trend in PCR combined with aggressive CALL writing at 24000–25000 zones shows distribution at higher levels, hinting that rallies could be sold into.

BANKNIFTY and MIDCPNIFTY echo the same sentiment—rising OI with falling prices + weak PCR structure, reinforcing that smart money is leaning short across the broader market, not just NIFTY.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 23997.55 (-0.745%)

Combined = May + June + July

Combined Fut Open Interest Change: 6.43%

Combined Fut Volume Change: 11.74%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 9% Previous 9%

NIFTY MAY Future closed at: 24098.2 (-0.634%)

May Fut Premium100.65 (Increased by 26.3 points)

May Fut Open Interest Change: 6.16%

May Fut Volume Change: 10.21%

May Fut Open Interest Analysis: Fresh Short

NIFTY JUNE Future closed at: 24210.6 (-0.693%)

June Fut Premium213.05 (Increased by 11.2 points)

June Fut Open Interest Change: 0.61%

June Fut Volume Change: 5.87%

June Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.872 (Decreased from 0.932)

Put-Call Ratio (Volume): 0.917

Max Pain Level: 24050

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 23000

Highest CALL Addition: 24000

Highest PUT Addition: 23200

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

Put-Call Ratio (Open Interest): 1.114 (Decreased from 1.139)

Put-Call Ratio (Volume): 1.011

Max Pain Level: 24400

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24000

Highest PUT Addition: 22500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 54863.35 (-0.975%)

Combined = May + June + July

Combined Fut Open Interest Change: 5.48%

Combined Fut Volume Change: -3.93%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 10% Previous 9%

BANKNIFTY MAY Future closed at: 55195.2 (-0.753%)

May Fut Premium331.85 (Increased by 121.65 points)

May Fut Open Interest Change: 4.4%

May Fut Volume Change: -7.0%

May Fut Open Interest Analysis: Fresh Short

BANKNIFTY JUNE Future closed at: 55376.8 (-0.853%)

June Fut Premium513.45 (Increased by 63.65 points)

June Fut Open Interest Change: 14.10%

June Fut Volume Change: 30.72%

June Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.876 (Decreased from 0.914)

Put-Call Ratio (Volume): 0.946

Max Pain Level: 56500

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 60000

Highest CALL Addition: 55000

Highest PUT Addition: 50000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13826 (-0.766%)

Combined = May + June + July

Combined Fut Open Interest Change: 5.07%

Combined Fut Volume Change: 48.16%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 2% Previous 2%

MIDCPNIFTY MAY Future closed at: 13879.65 (-0.527%)

May Fut Premium53.65 (Increased by 33.1 points)

May Fut Open Interest Change: 4.91%

May Fut Volume Change: 49.73%

May Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY JUNE Future closed at: 13934.1 (-0.477%)

June Fut Premium108.1 (Increased by 39.9 points)

June Fut Open Interest Change: 10.60%

June Fut Volume Change: 20.77%

June Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 1.025 (Decreased from 1.038)

Put-Call Ratio (Volume): 0.793

Max Pain Level: 13900

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 13500

Highest CALL Addition: 15000

Highest PUT Addition: 13800

SENSEX Monthly Expiry (27/05/2026) Future

SENSEX Spot closed at: 76,913.50 (-0.752%)

SENSEX Monthly Future closed at: 77,666.55 (-0.485%)

Premium: 753.05 (Increased by 204.51 points)

Open Interest Change: 41.56%

Volume Change: 72.29%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (7/05/2026) Option Analysis

Put-Call Ratio (OI): 0.989 (Decreased from 1.349)

Put-Call Ratio (Volume): 0.926

Max Pain Level: 77000

Maximum CALL OI: 77000

Maximum PUT OI: 77000

Highest CALL Addition: 77000

Highest PUT Addition: 77000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 8,047.86 Cr.

DIIs Net BUY: ₹ 3,487.10 Cr.

FII Derivatives Activity

FII Trading Stats30.04.2629.04.2628.04.26
FII Cash (Provisional Data)-8,047.86-2,468.42-2,103.74
    
Index Future Open Interest Long Ratio11.49%12.61%13.08%
Index Future Volume Long Ratio34.33%49.42%40.39%
Call Option Open Interest Long Ratio38.08%36.55%35.86%
Call Option Volume Long Ratio49.96%49.80%49.72%
Put Option Open Interest Long Ratio66.76%67.12%69.95%
Put Option Volume Long Ratio50.26%49.86%50.10%
Stock Future Open Interest Long Ratio55.51%55.73%55.57%
Stock Future Volume Long Ratio47.96%50.66%48.32%
    
Index FuturesFresh ShortLong CoveringLong Covering
Index OptionsFresh LongFresh ShortLong Covering
    
Nifty FuturesFresh ShortShort CoveringLong Covering
Nifty OptionsFresh LongFresh ShortLong Covering
    
BankNifty FuturesFresh ShortFresh ShortLong Covering
BankNifty OptionsFresh ShortFresh LongLong Covering
    
FinNifty FuturesFresh ShortFresh ShortLong Covering
FinNifty OptionsFresh ShortFresh LongShort Covering
    
MidcpNifty FuturesShort CoveringShort CoveringLong Covering
MidcpNifty OptionsFresh LongFresh LongLong Covering
    
NiftyNxt50 FuturesFresh ShortLong CoveringLong Covering
NiftyNxt50 OptionsLong CoveringLong CoveringShort Covering
    
Stock FuturesLong CoveringFresh LongLong Covering
Stock OptionsFresh ShortFresh ShortLong 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 (7/05/2026)

The SENSEX index closed at 76913.5. The SENSEX weekly expiry for MAY 07, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.989 against previous 1.349. The 77000CE option holds the maximum open interest, followed by the 77000PE and 78000CE options. Market participants have shown increased interest with significant open interest additions in the 77000CE option, with open interest additions also seen in the 77000PE and 78000CE options. On the other hand, open interest reductions were prominent in the 79900CE, 77900PE, and 78100PE options. Trading volume was highest in the 77000CE option, followed by the 77000PE and 76500PE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:07-05-2026
Index SpotPCR OIPrev PCR OIPCR VOL
76913.50.9891.3490.926
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:      40,39,220        11,96,180           28,43,040
PUT:      39,95,200        16,13,180           23,82,020
Top CALL Open Interest:
StrikeOIOI ChangeVolume
77000        5,61,360          4,94,260           25,51,240
78000        3,50,540          1,95,580           16,14,900
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
77000        5,61,360          4,94,260           25,51,240
78000        3,50,540          1,95,580           16,14,900
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
79900              7,780              -4,820                 79,760
82900                    20                       –                             –  
Top CALL Volume:
StrikeOIOI ChangeVolume
77000        5,61,360          4,94,260           25,51,240
78000        3,50,540          1,95,580           16,14,900
Top PUT Open Interest:
StrikeOIOI ChangeVolume
77000        4,58,600          3,23,400           21,53,520
74000        2,91,240          1,28,940           13,49,980
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
77000        4,58,600          3,23,400           21,53,520
76500        2,42,900          1,60,300           17,14,880
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
77900              9,240              -2,440                 13,980
78100            19,680              -1,040                    6,580
Top PUT Volume:
StrikeOIOI ChangeVolume
77000        4,58,600          3,23,400           21,53,520
76500        2,42,900          1,60,300           17,14,880

NIFTY Weekly Expiry (5/05/2026)

The NIFTY index closed at 23997.55. The NIFTY weekly expiry for MAY 05, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.872 against previous 0.932. The 25000CE option holds the maximum open interest, followed by the 25500CE and 24500CE options. Market participants have shown increased interest with significant open interest additions in the 24000CE option, with open interest additions also seen in the 25000CE and 25500CE options. On the other hand, open interest reductions were prominent in the 24200PE, 26100CE, and 24300PE options. Trading volume was highest in the 24000CE option, followed by the 23900PE and 24000PE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:05-05-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,997.55                0.872                  0.932               0.917
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 11,38,22,995      9,23,99,125   2,14,23,870
 PUT:    9,92,50,255      8,61,35,595   1,31,14,660
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               25,000       97,20,490         29,75,700         9,56,949
               25,500       73,58,130         24,41,140         5,48,953
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,000       51,55,410         30,26,660       24,03,537
               25,000       97,20,490         29,75,700         9,56,949
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               26,100          4,04,105        -12,68,410             72,267
               25,600       19,64,950          -5,03,490         1,52,549
 Top CALL Volume:
 Strike OI OI Change Volume
               24,000       51,55,410         30,26,660       24,03,537
               23,900       14,72,965            9,89,365       16,28,914
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               23,000       65,91,195         14,81,350         8,51,615
               22,000       54,01,175         10,99,020         3,12,409
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,200       43,61,955         15,20,610         5,52,724
               23,000       65,91,195         14,81,350         8,51,615
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,200       18,03,295        -19,54,810         2,77,401
               24,300       17,81,520          -7,93,130         1,05,539
 Top PUT Volume: 
 Strike OI OI Change Volume
               23,900       28,95,165            9,20,075       20,21,502
               24,000       53,12,515            2,09,430       20,03,055

NIFTY Monthly Expiry (26/05/2026)

The NIFTY index closed at 23997.55. The NIFTY monthly expiry for MAY 26, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.114 against previous 1.139. 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 24000CE option, with open interest additions also seen in the 25000CE and 22500PE options. On the other hand, open interest reductions were prominent in the 24500PE, 26700CE, and 24400PE options. Trading volume was highest in the 24000PE option, followed by the 24000CE and 25000CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:26-05-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,997.55                1.114                  1.139               1.011
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    3,66,11,965      3,25,99,190       40,12,775
 PUT:    4,07,69,365      3,71,14,350       36,55,015
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               25,000       49,32,265            7,47,370             86,430
               26,000       39,28,210            1,42,025             36,007
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,000       38,60,870            9,95,020             96,076
               25,000       49,32,265            7,47,370             86,430
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               26,700          1,02,700          -1,79,725               8,086
               25,500       24,39,840              -98,540             50,082
 Top CALL Volume:
 Strike OI OI Change Volume
               24,000       38,60,870            9,95,020             96,076
               25,000       49,32,265            7,47,370             86,430
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       40,86,485            2,44,400         1,07,009
               23,000       32,23,285            3,08,880             74,982
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               22,500       25,62,495            6,94,135             68,822
               23,900          7,29,625            4,24,840             36,362
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,500       27,93,700          -2,20,740             19,842
               24,400          5,42,880          -1,15,245             10,762
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,000       40,86,485            2,44,400         1,07,009
               23,000       32,23,285            3,08,880             74,982

BANKNIFTY Monthly Expiry (26/05/2026)

The BANKNIFTY index closed at 54863.35. The BANKNIFTY monthly expiry for MAY 26, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.876 against previous 0.914. The 60000CE option holds the maximum open interest, followed by the 60000PE and 56000CE options. Market participants have shown increased interest with significant open interest additions in the 55000CE option, with open interest additions also seen in the 58000CE and 59000CE options. On the other hand, open interest reductions were prominent in the 55500PE, 62000CE, and 55600PE options. Trading volume was highest in the 55000PE option, followed by the 55000CE and 54500PE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:26-05-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         54,863.35                0.876                  0.914               0.946
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,12,76,790      1,00,56,060       12,20,730
 PUT:       98,74,890         91,91,640         6,83,250
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               60,000       19,31,490               15,930             57,423
               56,000          8,53,800               58,710             55,932
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               55,000          4,51,380            2,83,800             92,045
               58,000          7,65,450            1,87,680             48,655
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               62,000          3,37,020              -77,850             15,618
               56,200             75,570              -31,770               9,766
 Top CALL Volume:
 Strike OI OI Change Volume
               55,000          4,51,380            2,83,800             92,045
               60,000       19,31,490               15,930             57,423
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               60,000       11,13,810              -40,410               3,397
               56,000          7,87,200              -45,510             20,072
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               50,000          7,40,370            1,19,520             38,429
               54,500          2,09,190            1,10,310             59,527
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               55,500          2,07,270          -1,27,680             26,288
               55,600             33,000              -58,860               7,104
 Top PUT Volume: 
 Strike OI OI Change Volume
               55,000          5,53,920               83,700             92,494
               54,500          2,09,190            1,10,310             59,527

MIDCPNIFTY Monthly Expiry (26/05/2026)

The MIDCPNIFTY index closed at 13826. The MIDCPNIFTY monthly expiry for MAY 26, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.025 against previous 1.038. The 15000CE 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 15000CE option, with open interest additions also seen in the 13800CE and 13800PE options. On the other hand, open interest reductions were prominent in the 69800CE, 69800CE, and 69800CE options. Trading volume was highest in the 14000CE option, followed by the 13800CE and 15000CE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:26-05-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         13,826.00                1.025                  1.038               0.793
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       30,32,880         25,40,280         4,92,600
 PUT:       31,10,040         26,37,720         4,72,320
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,000          5,08,440            1,37,520               6,959
               14,000          4,28,280               27,480               9,457
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               15,000          5,08,440            1,37,520               6,959
               13,800          1,69,800            1,14,000               7,225
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               14,100             55,200              -25,680               1,418
               15,500             32,520              -23,760                   886
 Top CALL Volume:
 Strike OI OI Change Volume
               14,000          4,28,280               27,480               9,457
               13,800          1,69,800            1,14,000               7,225
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,500          4,45,200               39,720               4,856
               12,500          4,00,800               34,080               2,535
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               13,800          1,84,200            1,00,560               6,660
               13,000          3,44,640               89,160               5,975
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               14,050             25,200              -45,000                   858
               14,100             35,280              -15,120                   426
 Top PUT Volume: 
 Strike OI OI Change Volume
               13,800          1,84,200            1,00,560               6,660
               13,000          3,44,640               89,160               5,975

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

This Open Interest Volume Analysis strongly suggests that the market is entering a controlled bearish phase rather than a sharp panic fall, which is more dangerous for traders expecting quick reversals.

The key red flag is the uniform “Fresh Short” build-up across all major indices, supported by rising premiums and declining PCR, indicating institutional conviction on the short side.

Immediate resistance is clearly placed near 24000–24200 in NIFTY and 55000–55500 in BANKNIFTY, and unless these zones are reclaimed with short covering (not just price bounce), upside remains capped.

On the downside, while supports like 23200 (NIFTY) and 50000 (BANKNIFTY) exist, they are not strongly defended yet, which leaves room for gradual downside drift or volatility spikes.

Traders should be cautious of false pullbacks, as current data suggests sell-on-rise strategy remains dominant, and any bounce without OI unwinding could trap late buyers.

The most important takeaway from this Open Interest Volume Analysis is: market is weak structurally, but not oversold yet, so aggressive long positions at current levels carry unfavorable risk-reward.

Actionable Insight:

Prefer short on rise strategy near resistance zones
Watch for OI unwinding as first sign of trend reversal
Avoid aggressive longs until PCR stabilizes and CALL writing reduces

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

Disclaimer

fnodata.com is a financial blog providing research-based data and analysis. The content creator of the fnodata.com is not a SEBI registered Investment Advisor. The content on this blog is for informational purposes only and should not be considered as investment advice. You are responsible for your own investment decisions. You should consult with a financial advisor or conduct your own research before making any investment decisions.


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