NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 7/07/2026

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Open Interest Volume Analysis

Welcome to today’s Open Interest Volume Analysis for 7 July 2026, where we decode what the futures and options data is really signaling before the next trading session.

The derivatives market is sending a mixed but important message. NIFTY witnessed Long Covering, BANKNIFTY showed Fresh Short creation, MIDCPNIFTY continued Short Covering, while SENSEX also attracted Fresh Shorts. This combination suggests that traders are reducing bullish exposure in frontline indices while remaining relatively constructive on the broader market.

The sharp fall in the weekly NIFTY Put-Call Ratio from 1.190 to 0.902, along with simultaneous additions at the 24500 CALL and PUT strike, indicates that option writers are preparing for a volatile expiry rather than expecting a one-sided move. At the same time, falling futures premiums across all major indices confirm that bullish conviction has weakened despite the relatively small decline in spot prices.

Today’s Open Interest Volume Analysis also highlights an important divergence. While NIFTY futures witnessed long liquidation, BANKNIFTY’s combined futures data shifted towards fresh bearish positions, suggesting that banking stocks could remain the weaker pocket of the market. In contrast, MIDCPNIFTY continues to outperform as short covering and fresh longs in the August contract point toward improving sentiment in the broader market.

Overall, derivatives positioning suggests that the market remains in a consolidation phase with a slight bearish bias in large-cap indices. However, unless aggressive fresh short additions appear in NIFTY futures, the decline is likely to remain controlled rather than turning into a strong downtrend.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24398.7 (-0.130%)

Combined = July + August + September

Combined Fut Open Interest Change: -1.67%

Combined Fut Volume Change: 13.65%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 10% Previous 10%

NIFTY JULY Future closed at: 24440.3 (-0.174%)

July Fut Premium41.6 (Decreased by -10.95 points)

July Fut Open Interest Change: -1.92%

July Fut Volume Change: 11.57%

July Fut Open Interest Analysis: Long Covering

NIFTY AUGUST Future closed at: 24529.8 (-0.168%)

Aug Fut Premium131.1 (Decreased by -9.55 points)

Aug Fut Open Interest Change: -1.54%

Aug Fut Volume Change: 28.84%

Aug Fut Open Interest Analysis: Long Covering

NIFTY Weekly Expiry (14/07/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.902 (Decreased from 1.190)

Put-Call Ratio (Volume): 1.015

Max Pain Level: 24400

Maximum CALL Open Interest: 24500

Maximum PUT Open Interest: 24500

Highest CALL Addition: 24500

Highest PUT Addition: 24500

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

Put-Call Ratio (Open Interest): 1.162 (Increased from 1.161)

Put-Call Ratio (Volume): 1.149

Max Pain Level: 24300

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24500

Highest PUT Addition: 24500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 58200.7 (-0.156%)

Combined = July + August + September

Combined Fut Open Interest Change: 0.24%

Combined Fut Volume Change: -13.00%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 10% Previous 9%

BANKNIFTY JULY Future closed at: 58398.6 (-0.188%)

July Fut Premium197.9 (Decreased by -19.4 points)

July Fut Open Interest Change: -0.1%

July Fut Volume Change: -15.1%

July Fut Open Interest Analysis: Long Covering

BANKNIFTY AUGUST Future closed at: 58701.4 (-0.174%)

Aug Fut Premium500.7 (Decreased by -11.6 points)

Aug Fut Open Interest Change: 1.11%

Aug Fut Volume Change: 13.38%

Aug Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.889 (Decreased from 0.892)

Put-Call Ratio (Volume): 0.990

Max Pain Level: 58400

Maximum CALL Open Interest: 59000

Maximum PUT Open Interest: 59000

Highest CALL Addition: 59000

Highest PUT Addition: 59000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14638.45 (0.180%)

Combined = July + August + September

Combined Fut Open Interest Change: -1.31%

Combined Fut Volume Change: 94.89%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 2% Previous 2%

MIDCPNIFTY JULY Future closed at: 14681.05 (0.100%)

July Fut Premium42.6 (Decreased by -11.55 points)

July Fut Open Interest Change: -1.42%

July Fut Volume Change: 95.36%

July Fut Open Interest Analysis: Short Covering

MIDCPNIFTY AUGUST Future closed at: 14709.7 (0.048%)

Aug Fut Premium71.25 (Decreased by -19.15 points)

Aug Fut Open Interest Change: 1.15%

Aug Fut Volume Change: 68.29%

Aug Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 0.843 (Decreased from 0.856)

Put-Call Ratio (Volume): 0.752

Max Pain Level: 14500

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 13500

Highest CALL Addition: 14800

Highest PUT Addition: 13600

SENSEX Monthly Expiry (30/07/2026) Future

SENSEX Spot closed at: 78,180.72 (-0.133%)

SENSEX Monthly Future closed at: 78,429.10 (-0.196%)

Premium: 248.38 (Decreased by -50.05 points)

Open Interest Change: 0.32%

Volume Change: 47.85%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (9/07/2026) Option Analysis

Put-Call Ratio (OI): 0.799 (Decreased from 1.369)

Put-Call Ratio (Volume): 1.006

Max Pain Level: 78200

Maximum CALL OI: 80000

Maximum PUT OI: 77000

Highest CALL Addition: 78500

Highest PUT Addition: 76500

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 393.19 Cr.

DIIs Net SELL: ₹ 383.43 Cr.

FII Derivatives Activity

FII Trading Stats7.07.266.07.263.07.26
FII Cash (Provisional Data)393.19243.031,355.33
    
Index Future Open Interest Long Ratio10.75%10.66%9.59%
Index Future Volume Long Ratio56.91%69.22%64.73%
Call Option Open Interest Long Ratio39.53%41.81%40.21%
Call Option Volume Long Ratio48.87%50.32%49.91%
Put Option Open Interest Long Ratio72.33%65.33%67.47%
Put Option Volume Long Ratio50.32%49.86%50.34%
Stock Future Open Interest Long Ratio54.26%54.01%53.84%
Stock Future Volume Long Ratio52.53%52.60%51.08%
    
Index FuturesShort CoveringShort CoveringShort Covering
Index OptionsLong CoveringFresh LongFresh Long
    
Nifty FuturesShort CoveringShort CoveringShort Covering
Nifty OptionsLong CoveringFresh LongFresh Long
    
BankNifty FuturesLong CoveringFresh LongLong Covering
BankNifty OptionsFresh ShortFresh LongFresh Short
    
FinNifty FuturesFresh LongFresh LongFresh Short
FinNifty OptionsLong CoveringFresh LongFresh Short
    
MidcpNifty FuturesFresh LongFresh ShortFresh Short
MidcpNifty OptionsFresh ShortFresh LongFresh Short
    
NiftyNxt50 FuturesShort CoveringLong CoveringFresh Long
NiftyNxt50 OptionsFresh ShortFresh ShortFresh Short
    
Stock FuturesShort CoveringFresh LongFresh Long
Stock OptionsFresh LongFresh ShortFresh Short

SENSEX weekly Expiry (9/07/2026)

The SENSEX index closed at 78180.72. The SENSEX weekly expiry for JULY 9, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.799 against previous 1.369. The 80000CE option holds the maximum open interest, followed by the 78500CE and 77000PE options. Market participants have shown increased interest with significant open interest additions in the 78500CE option, with open interest additions also seen in the 81000CE and 80000CE options. On the other hand, open interest reductions were prominent in the 70000PE, 78200PE, and 78100PE options. Trading volume was highest in the 78500CE option, followed by the 78500PE and 78400CE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:09-07-2026
Index SpotPCR OIPrev PCR OIPCR VOL
78180.720.7991.3691.006
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  2,43,37,260    1,17,62,140        1,25,75,120
PUT:  1,94,40,920    1,61,06,180           33,34,740
Top CALL Open Interest:
StrikeOIOI ChangeVolume
80000      19,94,700          8,62,540        1,00,55,940
78500      18,82,480        12,59,280        3,63,37,000
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
78500      18,82,480        12,59,280        3,63,37,000
81000      15,17,020          9,37,640           49,00,000
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
77000        1,83,380            -36,700              1,66,420
77500        1,84,700            -17,300              4,55,640
Top CALL Volume:
StrikeOIOI ChangeVolume
78500      18,82,480        12,59,280        3,63,37,000
78400      10,35,160          4,12,620        2,72,47,820
Top PUT Open Interest:
StrikeOIOI ChangeVolume
77000      15,74,680          5,24,040        1,10,79,860
75000      14,26,020          3,40,480           62,11,040
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
76500      10,30,380          5,48,360           62,95,700
77000      15,74,680          5,24,040        1,10,79,860
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
70000        1,03,980        -3,07,100              7,67,940
78200        4,41,520        -2,27,280        1,80,60,440
Top PUT Volume:
StrikeOIOI ChangeVolume
78500        5,33,780          2,58,780        2,82,01,760
78400        4,44,080              -3,760        2,48,30,120

NIFTY Weekly Expiry (14/07/2026)

The NIFTY index closed at 24398.7. The NIFTY weekly expiry for JULY 14, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.902 against previous 1.190. The 24500CE option holds the maximum open interest, followed by the 25000CE and 24400CE options. Market participants have shown increased interest with significant open interest additions in the 24500CE option, with open interest additions also seen in the 24400CE and 24500PE options. On the other hand, open interest reductions were prominent in the 23750PE, 23150PE, and 22300PE options. Trading volume was highest in the 24500CE option, followed by the 24500PE and 24400PE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:14-07-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,398.70                0.902                  1.190               1.015
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    7,09,63,230      3,34,86,700   3,74,76,530
 PUT:    6,39,88,405      3,98,50,135   2,41,38,270
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,500       81,60,165         49,25,180         7,30,406
               25,000       55,05,500         22,02,980         2,52,975
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,500       81,60,165         49,25,180         7,30,406
               24,400       53,12,385         33,25,270         4,03,352
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,950          1,02,180                -4,745               6,550
               23,950             25,870                    -520                   457
 Top CALL Volume:
 Strike OI OI Change Volume
               24,500       81,60,165         49,25,180         7,30,406
               24,400       53,12,385         33,25,270         4,03,352
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,500       46,32,940         30,63,840         5,80,230
               24,000       46,19,550         19,85,880         3,15,480
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,500       46,32,940         30,63,840         5,80,230
               24,000       46,19,550         19,85,880         3,15,480
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,750          7,28,975              -38,090             59,423
               23,150             85,345              -17,875               5,340
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,500       46,32,940         30,63,840         5,80,230
               24,400       33,38,400         11,75,980         4,97,611

NIFTY Monthly Expiry (28/07/2026)

The NIFTY index closed at 24398.7. The NIFTY monthly expiry for JULY 28, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.162 against previous 1.161. The 24000PE option holds the maximum open interest, followed by the 25000CE and 24000CE options. Market participants have shown increased interest with significant open interest additions in the 24500PE option, with open interest additions also seen in the 24400PE and 24500CE options. On the other hand, open interest reductions were prominent in the 24000CE, 23300PE, and 22000PE options. Trading volume was highest in the 24500CE option, followed by the 24500PE and 25000CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:28-07-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,398.70                1.162                  1.161               1.149
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    4,25,20,595      4,21,42,815         3,77,780
 PUT:    4,94,25,220      4,89,29,920         4,95,300
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               25,000       70,29,815            1,98,445             82,641
               24,000       45,97,450          -2,64,615             21,154
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,500       41,07,285            2,52,590         1,08,052
               25,000       70,29,815            1,98,445             82,641
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,000       45,97,450          -2,64,615             21,154
               24,200       16,03,550          -1,14,140             10,570
 Top CALL Volume:
 Strike OI OI Change Volume
               24,500       41,07,285            2,52,590         1,08,052
               25,000       70,29,815            1,98,445             82,641
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       71,36,610          -1,14,075             73,953
               23,000       34,56,115               63,505             25,709
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,500       27,56,325            5,12,720             93,617
               24,400       15,25,030            4,22,630             59,870
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,300          6,79,250          -2,41,605             14,850
               22,000       19,92,055          -1,84,795             10,587
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,500       27,56,325            5,12,720             93,617
               24,000       71,36,610          -1,14,075             73,953

BANKNIFTY Monthly Expiry (28/07/2026)

The BANKNIFTY index closed at 58200.7. The BANKNIFTY monthly expiry for JULY 28, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.889 against previous 0.892. The 59000CE option holds the maximum open interest, followed by the 60000CE and 59000PE options. Market participants have shown increased interest with significant open interest additions in the 59000CE option, with open interest additions also seen in the 59000PE and 55500PE options. On the other hand, open interest reductions were prominent in the 58000CE, 58000PE, and 54500PE options. Trading volume was highest in the 58500PE option, followed by the 58500CE and 58000PE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:28-07-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         58,200.70                0.889                  0.892               0.990
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,35,72,240      1,24,73,640       10,98,600
 PUT:    1,20,65,310      1,11,26,850         9,38,460
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               59,000       20,17,680            3,69,690             73,581
               60,000       19,69,320              -23,280             63,956
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               59,000       20,17,680            3,69,690             73,581
               58,500          8,16,150            1,09,410             78,008
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               58,000       11,52,840              -69,180             42,714
               57,000          2,64,090              -26,220               6,018
 Top CALL Volume:
 Strike OI OI Change Volume
               58,500          8,16,150            1,09,410             78,008
               59,000       20,17,680            3,69,690             73,581
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               59,000       13,13,310            3,57,750             34,449
               58,000       12,06,270              -50,880             74,697
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               59,000       13,13,310            3,57,750             34,449
               55,500          4,26,420            1,27,680             19,587
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               58,000       12,06,270              -50,880             74,697
               54,500          1,89,570              -44,760             17,620
 Top PUT Volume: 
 Strike OI OI Change Volume
               58,500          5,39,820               81,210             78,911
               58,000       12,06,270              -50,880             74,697

MIDCPNIFTY Monthly Expiry (28/07/2026)

The MIDCPNIFTY index closed at 14638.45. The MIDCPNIFTY monthly expiry for JULY 28, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.843 against previous 0.856. The 15000CE option holds the maximum open interest, followed by the 14500CE and 13500PE options. Market participants have shown increased interest with significant open interest additions in the 14800CE option, with open interest additions also seen in the 14700CE and 13600PE options. On the other hand, open interest reductions were prominent in the 75000CE, 75300PE, and 75300CE options. Trading volume was highest in the 15000CE option, followed by the 14600CE and 14600PE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:28-07-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,638.45                0.843                  0.856               0.752
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       50,27,160         45,47,520         4,79,640
 PUT:       42,38,400         38,91,600         3,46,800
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,000          6,96,840              -80,520             13,546
               14,500          6,01,920               38,400               7,148
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               14,800          3,48,120            2,32,200               7,776
               14,700          4,75,800            1,82,760             10,550
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               15,000          6,96,840              -80,520             13,546
               14,600          3,12,960              -39,840             12,763
 Top CALL Volume:
 Strike OI OI Change Volume
               15,000          6,96,840              -80,520             13,546
               14,600          3,12,960              -39,840             12,763
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,500          5,84,160              -33,000               2,472
               14,500          5,43,840                -7,080               8,642
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               13,600          2,83,800            1,20,720               2,594
               14,700          1,85,400               64,560               3,927
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               13,500          5,84,160              -33,000               2,472
               14,550             43,200              -12,600               2,339
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,600          3,42,120               14,160             11,221
               14,500          5,43,840                -7,080               8,642

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

Today’s Open Interest Volume Analysis suggests that the market has entered a phase of profit booking rather than panic selling. Long positions are being unwound in NIFTY, while BANKNIFTY and SENSEX are witnessing selective fresh short build-up, indicating cautious sentiment among institutional traders.

The options data clearly identifies 24500 as the strongest resistance for NIFTY after receiving the highest CALL addition, while 24300 to 24400 remains the immediate support zone as reflected by Max Pain levels. A sustained move above 24500 can trigger fresh buying and another attempt towards new highs. On the downside, a decisive break below 24300 could invite additional short selling and increase volatility.

BANKNIFTY continues to deserve extra caution. Fresh shorts in the combined futures, falling premiums and a PCR below 1 indicate that banking stocks may underperform until short covering begins. Meanwhile, MIDCPNIFTY remains comparatively stronger, with short covering followed by fresh long additions in the August contract indicating that traders continue to prefer the broader market over heavyweight banking stocks.

From a trading perspective, this is a market where discipline matters more than aggression. Watch whether NIFTY futures shift from Long Covering to Fresh Longs above 24500, or whether Fresh Shorts emerge below 24300. That transition will likely determine the next directional move. Until then, expect range-bound trading with stock-specific opportunities rather than a broad market trend.

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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