NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 22/06/2026

• Open Interest Volume Analysis for 22 June 2026 indicates that the market is entering the June expiry week with a cautiously bullish undertone. Although NIFTY, BANKNIFTY and SENSEX closed higher, the real story lies beneath the surface where aggressive short covering in the near-month futures, fresh long build-up in July contracts, and improving Put-Call Ratios are revealing a gradual shift in trader sentiment rather than an outright bullish breakout.
• The derivatives data clearly suggests that traders are rolling their positions from June to July instead of exiting the market completely. Falling open interest in June futures accompanied by rising open interest in July futures reflects rollover into fresh long positions, which generally indicates confidence in higher levels beyond the current expiry. This rollover behaviour becomes even more meaningful because it is happening despite significantly lower trading volumes, implying that institutions are building positions patiently rather than chasing prices.
• Another important takeaway from today’s Open Interest Volume Analysis is the convergence of option data around the 24100 Max Pain level in NIFTY and the 77100 Max Pain level in SENSEX. Both indices closed extremely close to these equilibrium zones, suggesting that option writers continue to dominate the market ahead of expiry. At the same time, heavy PUT additions near current market levels indicate that traders are gradually strengthening support zones instead of expecting an immediate correction.
• BANKNIFTY also reflects a similar constructive structure. Strong short covering in June futures, aggressive fresh long additions in July contracts, and improving option PCR together indicate that banking stocks continue to provide stability to the broader market. However, option writers have simultaneously increased CALL writing near current levels, suggesting that upside may remain gradual unless these resistance zones are decisively crossed.
• MIDCPNIFTY remains the only relatively weaker segment. While June futures witnessed heavy short covering, the July series recorded fresh short additions, indicating that traders are still cautious about the broader midcap space despite benchmark indices showing resilience. This divergence suggests that institutional money is currently favouring large-cap indices over higher-risk midcap counters.
• Overall, today’s Open Interest Volume Analysis reflects a market where bearish conviction continues to weaken, fresh buying interest is gradually emerging in the next expiry series, and option positioning points towards a controlled bullish bias rather than an impulsive rally. The derivatives data therefore favours buying on declines while remaining alert to expiry-related volatility around major resistance levels.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24102.9 (0.374%)

Combined = June + July + August

Combined Fut Open Interest Change: -1.49%

Combined Fut Volume Change: -46.29%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 17% Previous 16%

NIFTY JUNE Future closed at: 24123.8 (0.278%)

June Fut Premium 20.9 (Decreased by -22.9 points)

June Fut Open Interest Change: -2.38%

June Fut Volume Change: -43.28%

June Fut Open Interest Analysis: Short Covering

NIFTY JULY Future closed at: 24220.8 (0.323%)

July Fut Premium 117.9 (Decreased by -11.7 points)

July Fut Open Interest Change: 3.75%

July Fut Volume Change: -55.86%

July Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (23/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.872 (Increased from 0.776)

Put-Call Ratio (Volume): 0.941

Max Pain Level: 24100

Maximum CALL Open Interest: 24200

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24150

Highest PUT Addition: 24100

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

Put-Call Ratio (Open Interest): 1.004 (Decreased from 1.021)

Put-Call Ratio (Volume): 0.948

Max Pain Level: 24100

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 25000

Highest PUT Addition: 24100

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 57935.6 (0.433%)

Combined = June + July + August

Combined Fut Open Interest Change: -4.08%

Combined Fut Volume Change: -23.60%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 19% Previous 16%

BANKNIFTY JUNE Future closed at: 58011.4 (0.259%)

June Fut Premium 75.8 (Decreased by -100.05 points)

June Fut Open Interest Change: -7.2%

June Fut Volume Change: -26.5%

June Fut Open Interest Analysis: Short Covering

BANKNIFTY JULY Future closed at: 58366.4 (0.282%)

July Fut Premium 430.8 (Decreased by -85.65 points)

July Fut Open Interest Change: 9.34%

July Fut Volume Change: -14.23%

July Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 1.107 (Increased from 1.075)

Put-Call Ratio (Volume): 1.051

Max Pain Level: 57000

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 54000

Highest CALL Addition: 57900

Highest PUT Addition: 58000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14630.55 (0.079%)

Combined = June + July + August

Combined Fut Open Interest Change: -13.75%

Combined Fut Volume Change: 165.02%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 8% Previous 6%

MIDCPNIFTY JUNE Future closed at: 14651 (0.032%)

June Fut Premium 20.45 (Decreased by -6.9 points)

June Fut Open Interest Change: -15.54%

June Fut Volume Change: 189.23%

June Fut Open Interest Analysis: Short Covering

MIDCPNIFTY JULY Future closed at: 14695.1 (-0.016%)

July Fut Premium 64.55 (Decreased by -13.9 points)

July Fut Open Interest Change: 14.64%

July Fut Volume Change: 31.52%

July Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 1.077 (Decreased from 1.165)

Put-Call Ratio (Volume): 1.120

Max Pain Level: 14500

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 14000

Highest CALL Addition: 14700

Highest PUT Addition: 14000

SENSEX Monthly Expiry (25/06/2026) Future

SENSEX Spot closed at: 77,094.07 (0.379%)

SENSEX Monthly Future closed at: 77,184.50 (0.323%)

Premium: 90.43 (Decreased by -42.97 points)

Open Interest Change: -2.30%

Volume Change: -34.20%

Open Interest Analysis: Short Covering

SENSEX Weekly Expiry (25/06/2026) Option Analysis

Put-Call Ratio (OI): 0.908 (Increased from 0.828)

Put-Call Ratio (Volume): 0.945

Max Pain Level: 77100

Maximum CALL OI: 80000

Maximum PUT OI: 77000

Highest CALL Addition: 80000

Highest PUT Addition: 75500

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 4,859.07 Cr.

DIIs Net SELL: ₹ 1,159.64 Cr.

FII Derivatives Activity

FII Trading Stats	22.06.26	19.06.26	18.06.26
FII Cash (Provisional Data)	-635.91	4,859.07	-1,025.20
Index Future Open Interest Long Ratio	13.16%	12.95%	13.47%
Index Future Volume Long Ratio	59.01%	41.15%	58.37%
Call Option Open Interest Long Ratio	41.07%	40.50%	41.55%
Call Option Volume Long Ratio	50.04%	49.49%	50.30%
Put Option Open Interest Long Ratio	67.81%	68.67%	67.61%
Put Option Volume Long Ratio	50.14%	50.53%	50.18%
Stock Future Open Interest Long Ratio	54.02%	54.18%	54.73%
Stock Future Volume Long Ratio	48.01%	45.97%	46.63%
Index Futures	Short Covering	Fresh Short	Fresh Long
Index Options	Fresh Long	Fresh Long	Fresh Long
Nifty Futures	Fresh Long	Fresh Short	Short Covering
Nifty Options	Fresh Long	Fresh Long	Fresh Long
BankNifty Futures	Short Covering	Long Covering	Fresh Short
BankNifty Options	Fresh Short	Fresh Short	Fresh Short
FinNifty Futures	Long Covering	Long Covering	Fresh Long
FinNifty Options	Fresh Short	Fresh Short	Fresh Short
MidcpNifty Futures	Fresh Long	Fresh Short	Short Covering
MidcpNifty Options	Fresh Short	Long Covering	Fresh Short
NiftyNxt50 Futures	Short Covering	Fresh Long	Short Covering
NiftyNxt50 Options	Fresh Long	Fresh Short	Fresh Long
Stock Futures	Fresh Short	Fresh Short	Fresh Short
Stock Options	Fresh Short	Fresh Long	Fresh Long

NSE & BSE Option market Trends : Options Insights

SENSEX weekly Expiry (25/06/2026)

The SENSEX index closed at 77094.07. The SENSEX weekly expiry for JUNE 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.908 against previous 0.828. The 80000CE option holds the maximum open interest, followed by the 77000PE and 75000PE options. Market participants have shown increased interest with significant open interest additions in the 75500PE option, with open interest additions also seen in the 80000CE and 77200CE options. On the other hand, open interest reductions were prominent in the 76900CE, 76600CE, and 76700CE options. Trading volume was highest in the 77200CE option, followed by the 77200PE and 77000PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	25-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
77094.07	0.908	0.828	0.945
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,34,22,000	1,07,97,160	26,24,840
PUT:	1,21,85,440	89,40,120	32,45,320
Top CALL Open Interest:
Strike	OI	OI Change	Volume
80000	9,51,060	4,42,800	49,48,780
77500	7,15,240	2,03,540	1,15,40,660
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
80000	9,51,060	4,42,800	49,48,780
77200	6,19,000	4,38,840	1,73,80,500
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
76900	1,01,100	-1,85,300	19,33,320
76600	1,53,260	-1,75,400	7,55,780
Top CALL Volume:
Strike	OI	OI Change	Volume
77200	6,19,000	4,38,840	1,73,80,500
77300	5,68,260	3,50,240	1,16,00,960
Top PUT Open Interest:
Strike	OI	OI Change	Volume
77000	7,94,080	3,87,220	1,39,63,880
75000	7,31,440	2,59,000	62,17,920
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
75500	7,01,760	4,56,520	46,84,400
77200	5,47,580	4,35,640	1,61,39,420
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
76700	1,82,320	-1,69,580	40,64,660
76600	2,61,900	-1,07,780	34,82,700
Top PUT Volume:
Strike	OI	OI Change	Volume
77200	5,47,580	4,35,640	1,61,39,420
77000	7,94,080	3,87,220	1,39,63,880

NIFTY Weekly Expiry (23/06/2026)

The NIFTY index closed at 24102.9. The NIFTY weekly expiry for JUNE 23, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.872 against previous 0.776. The 24200CE option holds the maximum open interest, followed by the 24000PE and 24100CE options. Market participants have shown increased interest with significant open interest additions in the 24100PE option, with open interest additions also seen in the 24150CE and 24200CE options. On the other hand, open interest reductions were prominent in the 24000CE, 25500CE, and 25300CE options. Trading volume was highest in the 24100PE option, followed by the 24100CE and 24150CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	23-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,102.90	0.872	0.776	0.941
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	16,63,37,340	15,49,19,700	1,14,17,640
PUT:	14,49,92,250	12,02,65,925	2,47,26,325
Top CALL Open Interest:
Strike	OI	OI Change	Volume
24,200	1,33,47,230	51,68,605	62,52,817
24,100	1,11,23,320	44,16,230	75,60,987
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
24,150	1,00,89,885	65,66,625	68,54,954
24,200	1,33,47,230	51,68,605	62,52,817
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,000	51,27,005	-39,29,380	21,45,599
25,500	52,61,880	-27,56,325	3,03,671
Top CALL Volume:
Strike	OI	OI Change	Volume
24,100	1,11,23,320	44,16,230	75,60,987
24,150	1,00,89,885	65,66,625	68,54,954
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	1,31,45,535	37,13,775	45,50,998
24,100	1,08,32,315	75,83,095	80,10,738
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,100	1,08,32,315	75,83,095	80,10,738
24,050	67,73,390	46,80,650	32,34,941
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
22,000	22,49,585	-15,95,490	1,18,932
23,500	81,35,595	-13,88,205	11,33,433
Top PUT Volume:
Strike	OI	OI Change	Volume
24,100	1,08,32,315	75,83,095	80,10,738
24,150	42,67,770	35,33,465	50,03,757

NIFTY Monthly Expiry (30/06/2026)

The NIFTY index closed at 24102.9. The NIFTY monthly expiry for JUNE 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.004 against previous 1.021. The 25000CE option holds the maximum open interest, followed by the 24000PE and 24000CE options. Market participants have shown increased interest with significant open interest additions in the 24100PE option, with open interest additions also seen in the 23600PE and 25000CE options. On the other hand, open interest reductions were prominent in the 24000CE, 24050CE, and 20000PE options. Trading volume was highest in the 24500CE option, followed by the 24000PE and 24100CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,102.90	1.004	1.021	0.948
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	9,60,37,970	8,07,13,185	1,53,24,785
PUT:	9,64,56,070	8,24,23,145	1,40,32,925
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	1,18,90,420	11,95,610	1,59,001
24,000	76,00,025	-8,73,610	1,57,882
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,000	1,18,90,420	11,95,610	1,59,001
24,150	15,33,870	11,80,725	1,11,479
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,000	76,00,025	-8,73,610	1,57,882
24,050	5,05,245	-2,20,350	33,461
Top CALL Volume:
Strike	OI	OI Change	Volume
24,500	70,54,450	6,13,470	2,30,738
24,100	33,21,370	10,60,150	2,05,164
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	76,94,395	1,67,705	2,20,682
23,500	63,82,740	3,95,135	1,87,806
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,100	31,36,315	16,58,540	2,01,890
23,600	39,73,385	13,15,665	1,28,639
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
20,000	16,09,130	-2,14,500	13,137
21,000	23,33,390	-1,77,505	20,335
Top PUT Volume:
Strike	OI	OI Change	Volume
24,000	76,94,395	1,67,705	2,20,682
24,100	31,36,315	16,58,540	2,01,890

BANKNIFTY Monthly Expiry (30/06/2026)

The BANKNIFTY index closed at 57935.6. The BANKNIFTY monthly expiry for JUNE 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.107 against previous 1.075. The 60000CE option holds the maximum open interest, followed by the 58000CE and 54000PE options. Market participants have shown increased interest with significant open interest additions in the 58000PE option, with open interest additions also seen in the 57900PE and 57900CE options. On the other hand, open interest reductions were prominent in the 57600CE, 60000CE, and 54000PE options. Trading volume was highest in the 58000CE option, followed by the 58000PE and 57800CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
57,935.60	1.107	1.075	1.051
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,69,36,140	1,67,43,000	1,93,140
PUT:	1,87,45,320	1,79,92,410	7,52,910
Top CALL Open Interest:
Strike	OI	OI Change	Volume
60,000	18,06,960	-1,50,360	92,784
58,000	14,79,810	2,20,770	2,02,627
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
57,900	4,00,410	2,26,140	1,04,407
58,000	14,79,810	2,20,770	2,02,627
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
57,600	1,57,680	-1,81,680	30,704
60,000	18,06,960	-1,50,360	92,784
Top CALL Volume:
Strike	OI	OI Change	Volume
58,000	14,79,810	2,20,770	2,02,627
57,800	3,75,390	-7,350	1,16,688
Top PUT Open Interest:
Strike	OI	OI Change	Volume
54,000	12,80,340	-1,21,260	37,168
56,000	10,43,040	2,09,280	64,854
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
58,000	8,88,600	2,99,850	1,43,775
57,900	3,78,870	2,55,360	97,101
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
54,000	12,80,340	-1,21,260	37,168
53,500	5,58,450	-97,230	22,550
Top PUT Volume:
Strike	OI	OI Change	Volume
58,000	8,88,600	2,99,850	1,43,775
57,800	3,67,770	1,30,290	1,00,678

MIDCPNIFTY Monthly Expiry (30/06/2026)

The MIDCPNIFTY index closed at 14630.55. The MIDCPNIFTY monthly expiry for JUNE 30, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.077 against previous 1.165. The 15000CE option holds the maximum open interest, followed by the 14000PE and 14700CE options. Market participants have shown increased interest with significant open interest additions in the 14700CE option, with open interest additions also seen in the 14000PE and 14600CE options. On the other hand, open interest reductions were prominent in the 71000CE, 71000CE, and 73300PE options. Trading volume was highest in the 14600CE option, followed by the 14600PE and 14700CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
14,630.55	1.077	1.165	1.120
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	76,34,880	68,64,360	7,70,520
PUT:	82,24,200	80,00,160	2,24,040
Top CALL Open Interest:
Strike	OI	OI Change	Volume
15,000	9,46,800	93,480	12,127
14,700	7,46,280	2,10,360	16,312
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
14,700	7,46,280	2,10,360	16,312
14,600	4,67,880	1,02,720	16,767
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,500	4,19,640	-30,720	4,292
14,300	2,17,440	-23,400	343
Top CALL Volume:
Strike	OI	OI Change	Volume
14,600	4,67,880	1,02,720	16,767
14,700	7,46,280	2,10,360	16,312
Top PUT Open Interest:
Strike	OI	OI Change	Volume
14,000	9,10,920	1,52,640	13,163
14,500	7,06,560	45,000	12,530
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
14,000	9,10,920	1,52,640	13,163
14,800	1,58,640	67,560	2,578
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,500	4,90,200	-84,960	3,537
14,400	3,18,360	-78,840	8,371
Top PUT Volume:
Strike	OI	OI Change	Volume
14,600	4,91,520	42,120	16,657
14,000	9,10,920	1,52,640	13,163

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

• Today’s Open Interest Volume Analysis presents one of the healthier derivative structures seen during the ongoing June series. Across NIFTY, BANKNIFTY and SENSEX, aggressive short covering in the expiring contracts combined with fresh long accumulation in July futures indicates that institutional participants are shifting towards a medium-term bullish outlook instead of preparing for a major correction.
• The improvement in Put-Call Ratios across most indices, continuous PUT additions around current market levels, and stable Max Pain zones collectively suggest that downside is becoming increasingly protected. Although option writers continue defending higher strike prices through fresh CALL writing, the absence of fresh short build-up near current levels indicates that bears are gradually losing control.
• One factor that deserves attention is the sharp decline in futures volume across NIFTY, BANKNIFTY and SENSEX. While this reduces the probability of explosive directional moves immediately, it also implies that current positioning is driven more by rollover and strategic institutional participation than by speculative trading. A meaningful increase in volumes above resistance could therefore trigger a stronger trending move.
• MIDCPNIFTY remains the only area showing relative weakness because fresh shorts have entered the July series. Until this changes into fresh long build-up, traders may continue to witness stock-specific action rather than broad-based participation from the midcap segment.
• Going into the next trading session, the overall derivatives structure continues to favour a buy-on-dips strategy instead of aggressive short selling. As long as PUT writers maintain their positions around the immediate support zones and fresh long additions continue in the July futures, the probability of gradual upside remains higher than the probability of a sustained decline. Traders should nevertheless monitor rollover activity, option writing at higher strikes, and changes in Open Interest Volume Analysis closely, as these will provide the earliest signals of whether the current bullish bias strengthens further or begins to weaken during the remaining expiry sessions.

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