NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 1/06/2026

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Open Interest Volume Analysis

The first trading session of June started on a distinctly bearish note, and today’s Open Interest Volume Analysis reveals that traders aggressively positioned themselves on the short side across major indices.

NIFTY, BANKNIFTY, MIDCPNIFTY, and SENSEX all witnessed price declines accompanied by rising futures open interest, clearly indicating fresh short creation rather than mere profit booking. What makes this development more significant is the sharp contraction in futures premiums across all indices, suggesting weakening bullish conviction and increasing expectations of lower levels ahead.

In NIFTY, combined futures open interest rose 4.06% while prices fell 0.70%, and both June and July contracts showed fresh short buildup. BANKNIFTY and MIDCPNIFTY displayed a similar pattern, with July series witnessing particularly strong additions in open interest, indicating that traders are rolling bearish bets into the next expiry rather than treating today’s weakness as a short-term event.

The options market further strengthened the bearish narrative as Put-Call Ratios declined across all major indices, aggressive call writing emerged near resistance zones, and maximum call additions were concentrated above spot levels.
This Open Interest Volume Analysis suggests that market participants currently view every rally as a selling opportunity, while option writers continue to defend higher strikes aggressively. Unless significant short covering emerges during the next few sessions, derivatives data indicates that sentiment remains tilted in favour of bears despite the market approaching important support zones.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 23382.6 (-0.701%)

Combined = June + July + August

Combined Fut Open Interest Change: 4.06%

Combined Fut Volume Change: -40.83%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 8% Previous 7%

NIFTY JUNE Future closed at: 23462 (-1.208%)

June Fut Premium 79.4 (Decreased by -121.65 points)

June Fut Open Interest Change: 2.90%

June Fut Volume Change: -44.12%

June Fut Open Interest Analysis: Fresh Short

NIFTY JULY Future closed at: 23568.5 (-1.191%)

July Fut Premium 185.9 (Decreased by -118.95 points)

July Fut Open Interest Change: 8.60%

July Fut Volume Change: -3.12%

July Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (02/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.491 (Decreased from 0.527)

Put-Call Ratio (Volume): 1.179

Max Pain Level: 23500

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 23000

Highest CALL Addition: 23600

Highest PUT Addition: 23400

NIFTY Monthly Expiry (30/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.123 (Decreased from 1.168)

Put-Call Ratio (Volume): 0.769

Max Pain Level: 24200

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24500

Highest PUT Addition: 22500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 53643.1 (-1.099%)

Combined = June + July + August

Combined Fut Open Interest Change: 3.70%

Combined Fut Volume Change: -22.02%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 6% Previous 6%

BANKNIFTY JUNE Future closed at: 53973 (-1.437%)

June Fut Premium 329.9 (Decreased by -190.9 points)

June Fut Open Interest Change: 2.8%

June Fut Volume Change: -24.4%

June Fut Open Interest Analysis: Fresh Short

BANKNIFTY JULY Future closed at: 54310.8 (-1.359%)

July Fut Premium 667.7 (Decreased by -152.3 points)

July Fut Open Interest Change: 12.21%

July Fut Volume Change: 5.79%

July Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (30/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.856 (Decreased from 0.941)

Put-Call Ratio (Volume): 0.777

Max Pain Level: 55000

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 60000

Highest CALL Addition: 58500

Highest PUT Addition: 50000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14264.85 (-1.451%)

Combined = June + July + August

Combined Fut Open Interest Change: 4.10%

Combined Fut Volume Change: -1.56%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 2% Previous 2%

MIDCPNIFTY JUNE Future closed at: 14348.8 (-1.736%)

June Fut Premium 83.95 (Decreased by -43.45 points)

June Fut Open Interest Change: 3.87%

June Fut Volume Change: -3.99%

June Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY JULY Future closed at: 14389.25 (-1.790%)

July Fut Premium 124.4 (Decreased by -52.25 points)

July Fut Open Interest Change: 10.43%

July Fut Volume Change: 44.52%

July Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY Monthly Expiry (30/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.121 (Decreased from 1.271)

Put-Call Ratio (Volume): 0.833

Max Pain Level: 14500

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 15000

Highest PUT Addition: 13000

SENSEX Monthly Expiry (25/06/2026) Future

SENSEX Spot closed at: 74,267.34 (-0.680%)

SENSEX Monthly Future closed at: 74,684.85 (-1.240%)

Premium: 417.51 (Decreased by -429.4 points)

Open Interest Change: -2.57%

Volume Change: -36.95%

Open Interest Analysis: Long Covering

SENSEX Weekly Expiry (4/06/2026) Option Analysis

Put-Call Ratio (OI): 0.617 (Decreased from 0.720)

Put-Call Ratio (Volume): 1.278

Max Pain Level: 75000

Maximum CALL OI: 76000

Maximum PUT OI: 73500

Highest CALL Addition: 75000

Highest PUT Addition: 72000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 3,911.68 Cr.

DIIs Net BUY: ₹ 5,109.13 Cr.

FII Derivatives Activity

FII Trading Stats1.06.2629.05.2627.05.26
FII Cash (Provisional Data)-3,911.68-21,105.86-1,042.70
    
Index Future Open Interest Long Ratio9.69%11.98%16.14%
Index Future Volume Long Ratio24.90%17.46%30.28%
Call Option Open Interest Long Ratio41.74%40.17%40.22%
Call Option Volume Long Ratio50.09%49.51%49.90%
Put Option Open Interest Long Ratio69.85%68.86%69.89%
Put Option Volume Long Ratio50.17%50.16%50.04%
Stock Future Open Interest Long Ratio54.32%54.39%54.28%
Stock Future Volume Long Ratio49.48%50.26%49.10%
    
Index FuturesFresh ShortFresh ShortFresh Short
Index OptionsFresh LongFresh ShortFresh Short
    
Nifty FuturesFresh ShortFresh ShortFresh Short
Nifty OptionsFresh LongFresh ShortFresh Short
    
BankNifty FuturesLong CoveringLong CoveringFresh Short
BankNifty OptionsFresh ShortFresh LongFresh Long
    
FinNifty FuturesFresh ShortLong CoveringFresh Long
FinNifty OptionsFresh LongFresh LongFresh Long
    
MidcpNifty FuturesLong CoveringShort CoveringShort Covering
MidcpNifty OptionsFresh ShortFresh LongFresh Long
    
NiftyNxt50 FuturesShort CoveringLong CoveringFresh Long
NiftyNxt50 OptionsShort CoveringFresh ShortFresh Long
    
Stock FuturesLong CoveringLong CoveringFresh Short
Stock OptionsFresh ShortFresh ShortFresh Short

SENSEX weekly Expiry (4/06/2026)

The SENSEX index closed at 74267.34. The SENSEX weekly expiry for JUNE 04, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.617 against previous 0.720. The 76000CE option holds the maximum open interest, followed by the 77000CE and 75000CE options. Market participants have shown increased interest with significant open interest additions in the 75000CE option, with open interest additions also seen in the 77000CE and 76000CE options. On the other hand, open interest reductions were prominent in the 75700PE, 75600PE, and 75900CE options. Trading volume was highest in the 74500PE option, followed by the 75000PE and 74000PE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:04-06-2026
Index SpotPCR OIPrev PCR OIPCR VOL
74267.340.6170.7201.278
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  1,60,58,760    1,09,18,180           51,40,580
PUT:      99,10,940        78,60,980           20,49,960
Top CALL Open Interest:
StrikeOIOI ChangeVolume
76000      14,57,120          4,27,000        1,26,15,840
77000        9,95,060          4,90,440           81,80,860
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
75000        8,46,260          6,95,900        1,69,79,040
77000        9,95,060          4,90,440           81,80,860
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
75900        4,05,600        -1,17,560           36,07,400
81500            44,900        -1,09,460              6,28,440
Top CALL Volume:
StrikeOIOI ChangeVolume
75000        8,46,260          6,95,900        1,69,79,040
76000      14,57,120          4,27,000        1,26,15,840
Top PUT Open Interest:
StrikeOIOI ChangeVolume
73500        7,90,620              78,060        1,03,46,280
73000        7,84,980          1,08,540        1,19,32,780
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
72000        6,64,700          2,43,700           66,00,460
74000        5,02,620          1,73,420        1,71,25,480
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
75700            55,860        -1,44,100              6,78,780
75600            50,960        -1,30,380              8,46,960
Top PUT Volume:
StrikeOIOI ChangeVolume
74500        3,44,560              97,200        1,75,76,520
75000        3,09,360            -17,460        1,74,82,700

NIFTY Weekly Expiry (2/06/2026)

The NIFTY index closed at 23382.6. The NIFTY weekly expiry for JUNE 02, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.491 against previous 0.527. The 24000CE option holds the maximum open interest, followed by the 25000CE and 24500CE options. Market participants have shown increased interest with significant open interest additions in the 23600CE option, with open interest additions also seen in the 23500CE and 23550CE options. On the other hand, open interest reductions were prominent in the 24700CE, 25500CE, and 24800CE options. Trading volume was highest in the 23500PE option, followed by the 23400PE and 23600CE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:02-06-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,382.60                0.491                  0.527               1.179
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 21,90,01,445   19,63,80,795   2,26,20,650
 PUT: 10,75,34,960   10,35,53,775       39,81,185
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000    1,73,44,080         19,73,335       32,19,620
               25,000    1,27,57,485        -25,25,185         9,39,432
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               23,600       98,02,715         83,19,415       73,19,501
               23,500       88,88,555         72,59,525       54,09,776
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,700       45,02,420        -46,31,965         7,59,644
               25,500       43,50,190        -44,41,060         3,19,200
 Top CALL Volume:
 Strike OI OI Change Volume
               23,600       98,02,715         83,19,415       73,19,501
               23,700       90,18,880         40,11,280       57,45,960
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               23,000       98,06,355         11,06,300       28,82,560
               23,200       91,69,290         13,04,420       44,72,673
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,400       74,99,050         33,34,370       86,73,893
               23,250       46,46,980         24,85,405       32,90,686
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,500       41,90,420        -25,67,045   1,04,65,682
               23,700       23,08,150        -22,78,900       23,41,453
 Top PUT Volume: 
 Strike OI OI Change Volume
               23,500       41,90,420        -25,67,045   1,04,65,682
               23,400       74,99,050         33,34,370       86,73,893

NIFTY Monthly Expiry (30/06/2026)

The NIFTY index closed at 23382.6. The NIFTY monthly expiry for JUNE 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.123 against previous 1.168. The 25000CE option holds the maximum open interest, followed by the 24000CE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 24500CE option, with open interest additions also seen in the 23500CE and 22500PE options. On the other hand, open interest reductions were prominent in the 23000PE, 24000PE, and 24200PE options. Trading volume was highest in the 24000CE option, followed by the 25000CE and 24500CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:30-06-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,382.60                1.123                  1.168               0.769
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    5,73,93,980      5,47,05,770       26,88,210
 PUT:    6,44,30,630      6,39,09,825         5,20,805
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               25,000       79,37,400          -3,24,120             86,626
               24,000       72,23,790            5,09,775             98,041
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,500       43,56,040            7,19,940             81,279
               23,500       22,44,060            6,33,945             51,454
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,000       79,37,400          -3,24,120             86,626
               25,500       25,94,475          -2,24,185             26,464
 Top CALL Volume:
 Strike OI OI Change Volume
               24,000       72,23,790            5,09,775             98,041
               25,000       79,37,400          -3,24,120             86,626
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       58,83,415          -3,44,035             35,452
               25,000       49,01,680              -66,535               3,882
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               22,500       32,38,690            5,34,430             53,533
               23,500       38,44,360            4,79,115             75,430
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,000       47,64,580          -5,67,790             75,964
               24,000       58,83,415          -3,44,035             35,452
 Top PUT Volume: 
 Strike OI OI Change Volume
               23,000       47,64,580          -5,67,790             75,964
               23,500       38,44,360            4,79,115             75,430

BANKNIFTY Monthly Expiry (30/06/2026)

The BANKNIFTY index closed at 53643.1. The BANKNIFTY monthly expiry for JUNE 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.856 against previous 0.941. The 60000CE option holds the maximum open interest, followed by the 60000PE and 54000PE options. Market participants have shown increased interest with significant open interest additions in the 58500CE option, with open interest additions also seen in the 54000CE and 59500CE options. On the other hand, open interest reductions were prominent in the 60000CE, 60000PE, and 55000PE options. Trading volume was highest in the 54000PE option, followed by the 60000CE and 54000CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:30-06-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         53,643.10                0.856                  0.941               0.777
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,38,72,000      1,19,61,960       19,10,040
 PUT:    1,18,77,810      1,12,52,670         6,25,140
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               60,000       23,91,570          -1,11,450             84,286
               55,000          9,82,410               89,040             72,255
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               58,500          4,63,200            2,14,290             35,615
               54,000          9,50,130            1,98,870             78,039
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               60,000       23,91,570          -1,11,450             84,286
               65,000             82,710              -12,660             16,829
 Top CALL Volume:
 Strike OI OI Change Volume
               60,000       23,91,570          -1,11,450             84,286
               54,000          9,50,130            1,98,870             78,039
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               60,000       11,83,800              -77,070               2,838
               54,000       10,57,320               30,390             97,016
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               50,000          6,31,650               73,470             32,913
               53,000          6,13,800               62,970             45,149
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               60,000       11,83,800              -77,070               2,838
               55,000          6,61,320              -72,450             23,782
 Top PUT Volume: 
 Strike OI OI Change Volume
               54,000       10,57,320               30,390             97,016
               53,000          6,13,800               62,970             45,149

MIDCPNIFTY Monthly Expiry (30/06/2026)

The MIDCPNIFTY index closed at 14264.85. The MIDCPNIFTY monthly expiry for JUNE 30, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.121 against previous 1.271. The 13000PE option holds the maximum open interest, followed by the 13500PE and 15000CE options. Market participants have shown increased interest with significant open interest additions in the 15000CE option, with open interest additions also seen in the 14400CE and 13000PE options. On the other hand, open interest reductions were prominent in the 73000PE, 59300PE, and 59300PE options. Trading volume was highest in the 15000CE option, followed by the 14500PE and 14500CE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:30-06-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,264.85                1.121                  1.271               0.833
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       40,43,640         33,14,400         7,29,240
 PUT:       45,33,840         42,11,400         3,22,440
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,000          4,70,520            1,85,520             17,440
               16,000          4,63,920              -25,680               2,971
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               15,000          4,70,520            1,85,520             17,440
               14,400          2,06,760            1,81,080               7,638
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               15,200          1,36,920              -52,560               4,763
               16,000          4,63,920              -25,680               2,971
 Top CALL Volume:
 Strike OI OI Change Volume
               15,000          4,70,520            1,85,520             17,440
               14,500          3,28,680               49,320               8,041
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,000          7,04,400            1,67,760               5,637
               13,500          6,01,320              -18,600               7,171
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               13,000          7,04,400            1,67,760               5,637
               14,400          1,49,400               95,880               7,005
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               14,600             83,520              -69,360               2,100
               14,700          1,17,720              -38,160               1,270
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,500          4,35,360              -23,400               8,406
               13,500          6,01,320              -18,600               7,171

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

The overall takeaway from today’s Open Interest Volume Analysis is that bears continue to maintain control of the derivatives landscape. Fresh short buildup was visible across NIFTY, BANKNIFTY, and MIDCPNIFTY futures, while declining futures premiums reflected weakening confidence among bullish traders.

Weekly NIFTY data shows aggressive call additions at 23600 and substantial put additions at 23400, creating a near-term battle zone, but the sharp drop in PCR to 0.491 indicates that option writers remain more comfortable on the sell side.
BANKNIFTY’s declining PCR and strong call writing at 58500 suggest that upside attempts may continue to face resistance, while MIDCPNIFTY’s fresh shorts and lower premiums highlight continued risk in the broader market segment. The only relatively positive observation is that monthly NIFTY PCR remains above 1.0, indicating that longer-term participants have not completely abandoned bullish positions yet.

However, as long as futures continue to witness open interest additions on price declines and premiums keep shrinking, the broader trend remains vulnerable. Traders should closely monitor whether upcoming sessions witness short covering near support levels or additional fresh short creation.

The next few sessions could be crucial because sustained selling pressure below key support zones may trigger another round of downside acceleration, whereas meaningful short covering could lead to a sharp relief rally due to the elevated bearish positioning currently visible in the derivatives market.

For now, the data-driven message from the Open Interest Volume Analysis remains clear: caution is warranted, rallies are likely to face selling pressure, and confirmation of strength should be awaited before adopting an aggressively bullish stance.

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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