NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 1/07/2026

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Open Interest Volume Analysis

Open Interest Volume Analysis for 1 July 2026 points towards a market where bulls continue to hold the overall advantage, although the pace of buying has slowed after the recent upmove.

NIFTY, BANKNIFTY, MIDCPNIFTY and SENSEX futures all witnessed Fresh Long formation in the combined contracts, showing that traders are still willing to build long positions instead of exiting the market.

At the same time, sharp declines in futures volume across NIFTY (-68.89%), BANKNIFTY (-32.62%) and MIDCPNIFTY (-49.76%) indicate that today’s rise lacked aggressive participation. This makes follow-through buying on the next trading session extremely important.

Option data has become noticeably stronger. Weekly NIFTY PCR jumped from 0.887 to 1.105, while monthly PCR remained above 1.10, reflecting improving bullish sentiment. The simultaneous concentration of Maximum Call OI, Maximum Put OI, Highest Call Addition and Highest Put Addition at the 24000 strike confirms that this has become the most important price level for short-term traders.

BANKNIFTY and MIDCPNIFTY also showed improving option positioning with higher PCR readings and continued Fresh Long build-up, suggesting that the broader market is supporting the ongoing rally instead of relying on only a few heavyweight stocks.

Overall, today’s Open Interest Volume Analysis suggests a constructive but cautious bullish setup, where buyers remain in control, but confirmation through stronger volumes will be essential before expecting a sustained breakout above the recent trading range.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24005.85 (0.587%)

Combined = July + August + September

Combined Fut Open Interest Change: 0.26%

Combined Fut Volume Change: -68.89%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 8% Previous 8%

NIFTY JULY Future closed at: 24092.6 (0.348%)

July Fut Premium 86.75 (Decreased by -56.6 points)

July Fut Open Interest Change: -0.23%

July Fut Volume Change: -70.17%

July Fut Open Interest Analysis: Short Covering

NIFTY AUGUST Future closed at: 24195.3 (0.346%)

Aug Fut Premium 189.45 (Decreased by -56.7 points)

Aug Fut Open Interest Change: 2.80%

Aug Fut Volume Change: -60.51%

Aug Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (07/07/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.105 (Increased from 0.887)

Put-Call Ratio (Volume): 0.886

Max Pain Level: 24000

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24000

Highest PUT Addition: 24000

NIFTY Monthly Expiry (28/07/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.103 (Increased from 1.101)

Put-Call Ratio (Volume): 0.962

Max Pain Level: 24100

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24500

Highest PUT Addition: 23500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 58033.05 (0.852%)

Combined = July + August + September

Combined Fut Open Interest Change: 1.54%

Combined Fut Volume Change: -32.62%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 7% Previous 7%

BANKNIFTY JULY Future closed at: 58309.8 (0.549%)

July Fut Premium 276.75 (Decreased by -171.55 points)

July Fut Open Interest Change: 1.0%

July Fut Volume Change: -33.5%

July Fut Open Interest Analysis: Fresh Long

BANKNIFTY AUGUST Future closed at: 58606.8 (0.532%)

Aug Fut Premium 573.75 (Decreased by -180.15 points)

Aug Fut Open Interest Change: 3.93%

Aug Fut Volume Change: -37.29%

Aug Fut Open Interest Analysis: Fresh Long

BANKNIFTY Monthly Expiry  (28/07/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.911 (Increased from 0.842)

Put-Call Ratio (Volume): 0.844

Max Pain Level: 58000

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 60000

Highest CALL Addition: 62000

Highest PUT Addition: 53000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14536.1 (0.761%)

Combined = July + August + September

Combined Fut Open Interest Change: 2.43%

Combined Fut Volume Change: -49.76%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 3% Previous 2%

MIDCPNIFTY JULY Future closed at: 14605.3 (0.649%)

July Fut Premium 69.2 (Decreased by -15.6 points)

July Fut Open Interest Change: 2.40%

July Fut Volume Change: -50.07%

July Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY AUGUST Future closed at: 14641.8 (0.605%)

Aug Fut Premium 105.7 (Decreased by -21.7 points)

Aug Fut Open Interest Change: 2.62%

Aug Fut Volume Change: -43.18%

Aug Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY Monthly Expiry (28/07/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.921 (Increased from 0.850)

Put-Call Ratio (Volume): 0.956

Max Pain Level: 14500

Maximum CALL Open Interest: 14500

Maximum PUT Open Interest: 14500

Highest CALL Addition: 14500

Highest PUT Addition: 14000

SENSEX Monthly Expiry (30/07/2026) Future

SENSEX Spot closed at: 76,922.64 (0.581%)

SENSEX Monthly Future closed at: 77,400.05 (0.337%)

Premium: 477.41 (Decreased by -184.02 points)

Open Interest Change: 2.24%

Volume Change: 42.70%

Open Interest Analysis: Fresh Long

SENSEX Weekly Expiry (2/07/2026) Option Analysis

Put-Call Ratio (OI): 1.245 (Increased from 0.726)

Put-Call Ratio (Volume): 0.919

Max Pain Level: 77000

Maximum CALL OI: 78000

Maximum PUT OI: 76000

Highest CALL Addition: 78000

Highest PUT Addition: 76000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 1,140.50 Cr.

DIIs Net BUY: ₹ 3,159.24 Cr.

FII Derivatives Activity

FII Trading Stats1.07.2630.06.2629.06.26
FII Cash (Provisional Data)-1,140.50-2,556.75-1,350.10
    
Index Future Open Interest Long Ratio9.99%10.36%17.02%
Index Future Volume Long Ratio41.02%35.57%46.99%
Call Option Open Interest Long Ratio38.67%36.96%43.83%
Call Option Volume Long Ratio49.75%49.90%50.08%
Put Option Open Interest Long Ratio70.12%77.49%66.12%
Put Option Volume Long Ratio49.60%49.96%50.10%
Stock Future Open Interest Long Ratio53.53%53.66%54.57%
Stock Future Volume Long Ratio48.73%48.79%50.28%
    
Index FuturesFresh ShortLong CoveringFresh Short
Index OptionsFresh ShortLong CoveringFresh Long
    
Nifty FuturesFresh ShortLong CoveringFresh Short
Nifty OptionsFresh ShortShort CoveringFresh Long
    
BankNifty FuturesLong CoveringLong CoveringFresh Short
BankNifty OptionsFresh LongLong CoveringFresh Long
    
FinNifty FuturesFresh LongLong CoveringFresh Short
FinNifty OptionsFresh LongLong CoveringLong Covering
    
MidcpNifty FuturesFresh LongLong CoveringFresh Short
MidcpNifty OptionsFresh LongLong CoveringShort Covering
    
NiftyNxt50 FuturesFresh ShortLong CoveringLong Covering
NiftyNxt50 OptionsFresh LongLong CoveringFresh Long
    
Stock FuturesFresh ShortLong CoveringShort Covering
Stock OptionsFresh ShortLong CoveringLong Covering

SENSEX weekly Expiry (2/07/2026)

The SENSEX index closed at 76922.64. The SENSEX weekly expiry for JULY 2, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.245 against previous 0.726. The 76000PE option holds the maximum open interest, followed by the 75000PE and 78000CE options. Market participants have shown increased interest with significant open interest additions in the 76000PE option, with open interest additions also seen in the 76500PE and 78000CE options. On the other hand, open interest reductions were prominent in the 76700CE, 76800CE, and 76600CE options. Trading volume was highest in the 77000CE option, followed by the 77500CE and 77000PE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:02-07-2026
Index SpotPCR OIPrev PCR OIPCR VOL
76922.641.2450.7260.919
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  3,03,74,280    2,08,78,740           94,95,540
PUT:  3,78,06,700    1,51,62,960        2,26,43,740
Top CALL Open Interest:
StrikeOIOI ChangeVolume
78000      24,65,420        13,22,980        8,89,44,760
79000      20,73,740          8,03,300        2,46,15,780
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
78000      24,65,420        13,22,980        8,89,44,760
77500      20,50,900          8,75,520     12,29,34,120
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
76700        3,55,100        -2,01,740        3,79,73,060
76800        3,52,640        -1,89,540        5,37,45,480
Top CALL Volume:
StrikeOIOI ChangeVolume
77000      20,53,960          5,07,640     15,31,03,820
77500      20,50,900          8,75,520     12,29,34,120
Top PUT Open Interest:
StrikeOIOI ChangeVolume
76000      28,11,800        18,93,020        8,90,96,040
75000      25,03,440        10,30,620        2,67,24,000
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
76000      28,11,800        18,93,020        8,90,96,040
76500      22,82,120        15,14,280     10,88,29,980
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
77500        2,72,040        -1,01,260           55,60,340
70000        2,13,640            -51,180           18,56,720
Top PUT Volume:
StrikeOIOI ChangeVolume
77000      14,53,320          9,25,860     11,00,01,600
76500      22,82,120        15,14,280     10,88,29,980

NIFTY Weekly Expiry (7/07/2026)

The NIFTY index closed at 24005.85. The NIFTY weekly expiry for JULY 7, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.105 against previous 0.887. The 24000PE option holds the maximum open interest, followed by the 24000CE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 24000PE option, with open interest additions also seen in the 24000CE and 23900PE options. On the other hand, open interest reductions were prominent in the 23850CE, 23900CE, and 23750CE options. Trading volume was highest in the 24000CE option, followed by the 24000PE and 23900PE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:07-07-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,005.85                1.105                  0.887               0.886
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 11,40,40,420      8,38,73,855   3,01,66,565
 PUT: 12,60,71,270      7,43,83,985   5,16,87,285
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000    1,12,81,530         42,04,850       34,31,617
               25,000       73,66,970         20,34,045         4,88,395
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,000    1,12,81,530         42,04,850       34,31,617
               24,050       43,19,510         29,83,500       16,02,935
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               23,850          3,38,325          -3,47,035         2,62,130
               23,900       26,24,700          -3,08,490       13,41,873
 Top CALL Volume:
 Strike OI OI Change Volume
               24,000    1,12,81,530         42,04,850       34,31,617
               24,100       51,58,530         11,34,185       18,61,117
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000    1,17,66,105         65,05,395       33,40,150
               23,900       72,72,330         40,07,055       23,51,816
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,000    1,17,66,105         65,05,395       33,40,150
               23,900       72,72,330         40,07,055       23,51,816
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,800             36,660                -5,070                   471
               24,700             29,250                -3,705                   538
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,000    1,17,66,105         65,05,395       33,40,150
               23,900       72,72,330         40,07,055       23,51,816

NIFTY Monthly Expiry (28/07/2026)

The NIFTY index closed at 24005.85. The NIFTY monthly expiry for JULY 28, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.103 against previous 1.101. The 24000CE option holds the maximum open interest, followed by the 24000PE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 23500PE option, with open interest additions also seen in the 24500CE and 25000CE options. On the other hand, open interest reductions were prominent in the 23850PE, 24200PE, and 23800CE options. Trading volume was highest in the 24000CE option, followed by the 24000PE and 25000CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:28-07-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,005.85                1.103                  1.101               0.962
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    4,35,63,455      4,05,84,375       29,79,080
 PUT:    4,80,56,645      4,46,98,420       33,58,225
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000       75,27,000            3,34,165             92,106
               25,000       67,54,605            4,17,820             64,639
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,500       43,34,460            4,50,515             57,679
               25,000       67,54,605            4,17,820             64,639
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               23,800          3,35,790              -31,525               7,386
               24,250          3,38,520              -15,340               1,816
 Top CALL Volume:
 Strike OI OI Change Volume
               24,000       75,27,000            3,34,165             92,106
               25,000       67,54,605            4,17,820             64,639
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       69,97,380            2,86,715             85,879
               23,000       43,48,500            4,05,665             42,021
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,500       38,43,125            5,25,005             33,405
               23,000       43,48,500            4,05,665             42,021
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,850          1,32,990          -1,95,455               8,385
               24,200       18,35,470              -42,575               8,677
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,000       69,97,380            2,86,715             85,879
               23,000       43,48,500            4,05,665             42,021

BANKNIFTY Monthly Expiry (28/07/2026)

The BANKNIFTY index closed at 58033.05. The BANKNIFTY monthly expiry for JULY 28, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.911 against previous 0.842. The 60000CE option holds the maximum open interest, followed by the 58000CE and 60000PE options. Market participants have shown increased interest with significant open interest additions in the 53000PE option, with open interest additions also seen in the 62000CE and 61000CE options. On the other hand, open interest reductions were prominent in the 57500CE, 57700CE, and 52500PE options. Trading volume was highest in the 58000CE option, followed by the 58000PE and 60000CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:28-07-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         58,033.05                0.911                  0.842               0.844
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,03,39,620         89,58,540       13,81,080
 PUT:       94,14,540         75,41,250       18,73,290
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               60,000       21,77,940               93,450             53,227
               58,000       12,36,720               29,520         1,00,099
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               62,000          6,79,140            2,34,870             42,190
               61,000          4,95,510            1,53,270             38,193
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               57,500          1,64,310              -20,970             36,060
               57,700             55,710              -15,900             24,085
 Top CALL Volume:
 Strike OI OI Change Volume
               58,000       12,36,720               29,520         1,00,099
               60,000       21,77,940               93,450             53,227
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               60,000       11,73,900               20,550               2,881
               58,000       11,60,610               82,710             91,248
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               53,000          4,77,120            2,42,880             31,518
               55,000          4,87,200            1,31,460             27,546
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               52,500             97,020              -15,300               8,907
               52,000          2,34,870                -1,620             11,221
 Top PUT Volume: 
 Strike OI OI Change Volume
               58,000       11,60,610               82,710             91,248
               57,500          3,02,880               77,790             52,418

MIDCPNIFTY Monthly Expiry (28/07/2026)

The MIDCPNIFTY index closed at 14536.1. The MIDCPNIFTY monthly expiry for JULY 28, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.921 against previous 0.850. The 14500CE option holds the maximum open interest, followed by the 14500PE and 13500PE options. Market participants have shown increased interest with significant open interest additions in the 14500CE option, with open interest additions also seen in the 14000PE and 14500PE options. On the other hand, open interest reductions were prominent in the 80500CE, 80500CE, and 80500PE options. Trading volume was highest in the 14500PE option, followed by the 14500CE and 15000CE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:28-07-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,536.10                0.921                  0.850               0.956
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       30,80,760         19,22,400       11,58,360
 PUT:       28,37,520         16,33,920       12,03,600
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               14,500          6,43,920            2,92,200             10,549
               15,000          5,44,560               36,960               9,919
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               14,500          6,43,920            2,92,200             10,549
               15,600          1,47,960            1,38,120               2,060
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               15,700             72,600              -10,560                   766
               14,450             40,920                -8,160                   377
 Top CALL Volume:
 Strike OI OI Change Volume
               14,500          6,43,920            2,92,200             10,549
               15,000          5,44,560               36,960               9,919
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               14,500          5,94,960            2,67,360             12,013
               13,500          5,66,280            1,95,840               6,707
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               14,000          5,36,400            2,74,560               6,962
               14,500          5,94,960            2,67,360             12,013
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               14,350                7,920                -6,480                   267
               13,225                1,320                    -720                     16
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,500          5,94,960            2,67,360             12,013
               14,000          5,36,400            2,74,560               6,962

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

Open Interest Volume Analysis continues to favour the bulls, but this is not yet a high-conviction breakout because futures volumes contracted sharply despite higher prices.

The biggest positive is that Fresh Long positions are visible across NIFTY, BANKNIFTY, MIDCPNIFTY and SENSEX, while option PCRs improved across most indices, indicating that market participants are gradually becoming more optimistic.

The key battlefield remains NIFTY 24000. Heavy Call and Put positioning at this strike makes it the strongest support as well as the immediate decision zone. Sustaining above 24000-24100 can attract fresh momentum buying and improve the probability of a move towards 24250-24400 in the coming sessions.

However, if NIFTY slips back below 24000 and Fresh Long positions begin unwinding, today’s bullish derivatives setup could quickly weaken, resulting in profit booking and increased volatility.

BANKNIFTY continues to display relative strength with Fresh Long additions in both near and next-month contracts. Holding above 58000 keeps the broader banking trend positive and supports the overall market structure.

Trading View: The derivatives data still favours a “Buy on Dips” approach rather than aggressive profit booking. Watch whether volumes expand along with prices over the next few sessions. A combination of rising price, increasing Open Interest and stronger volumes would provide the strongest confirmation that the current bullish trend is entering its next leg higher.

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

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