NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 29/07/2026

Hey traders, if you were watching the screens on July 29, 2026, you already know the bulls took the driver’s seat—but to really understand why this happened and how long this momentum might last, we have to look under the hood. Relying on price action alone just won’t cut it in today’s market, which is exactly why a proper Open Interest Volume Analysis is your absolute best edge right now. Across the board—from the Nifty to the Sensex—we are seeing a classic, textbook blend of trapped bears running for cover and fresh money stepping into the ring. Before we dive into the granular numbers, here is what the core data is telling us right off the bat:

Bears are heavily trapped in the heavyweights: Both Nifty and BankNifty futures saw a massive wave of short covering. Open interest and volumes dropped while spot prices pushed higher, meaning those who bet against the market were forced to liquidate and buy back their positions.

Sensex shorts hit the panic button: With the Sensex expiry knocking on the door (July 30), aggressive short covering fueled a 1.15% jump. Future volumes spiked a staggering 199% while OI dropped—that is pure panic buying from trapped bears.

Midcaps are seeing genuine conviction: Unlike the large caps, MidcpNifty isn’t just relying on shorts covering. We are seeing fresh longs being built up across both the August and September series, meaning buyers are actively initiating new upside bets.

Put writers are confidently raising the floor: The Nifty Put-Call Ratio (PCR) bumped up to a bullish 1.167, and the Sensex PCR skyrocketed from 1.055 to 1.844. Option sellers are aggressively writing puts at higher levels (like 24200 in Nifty and 77500 in Sensex), building a concrete support base for the market.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24250.2 (1.104%)

Combined = August + September + October

Combined Fut Open Interest Change: -1.17%

Combined Fut Volume Change: -32.42%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 7% Previous 7%

NIFTY AUGUST Future closed at: 24311.5 (0.883%)

Aug Fut Premium 61.3 (Decreased by -52.15 points)

Aug Fut Open Interest Change: -1.92%

Aug Fut Volume Change: -36.07%

Aug Fut Open Interest Analysis: Short Covering

NIFTY SEPTEMBER Future closed at: 24431.1 (0.802%)

Sep Fut Premium 180.9 (Decreased by -70.55 points)

Sep Fut Open Interest Change: 3.56%

Sep Fut Volume Change: 20.32%

Sep Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (04/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.167 (Increased from 0.926)

Put-Call Ratio (Volume): 0.885

Max Pain Level: 24200

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24600

Highest PUT Addition: 24200

NIFTY Monthly Expiry (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.127 (Increased from 1.104)

Put-Call Ratio (Volume): 1.150

Max Pain Level: 24200

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 25500

Highest PUT Addition: 24200

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 57205.9 (0.793%)

Combined = August + September + October

Combined Fut Open Interest Change: -3.33%

Combined Fut Volume Change: -36.67%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 7% Previous 7%

BANKNIFTY AUGUST Future closed at: 57344.4 (0.588%)

Aug Fut Premium 138.5 (Decreased by -114.9 points)

Aug Fut Open Interest Change: -3.6%

Aug Fut Volume Change: -38.6%

Aug Fut Open Interest Analysis: Short Covering

BANKNIFTY SEPTEMBER Future closed at: 57717.8 (0.540%)

Sep Fut Premium 511.9 (Decreased by -140.3 points)

Sep Fut Open Interest Change: -2.16%

Sep Fut Volume Change: -8.40%

Sep Fut Open Interest Analysis: Short Covering

BANKNIFTY Monthly Expiry  (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.897 (Increased from 0.870)

Put-Call Ratio (Volume): 0.814

Max Pain Level: 57600

Maximum CALL Open Interest: 58000

Maximum PUT Open Interest: 58000

Highest CALL Addition: 58000

Highest PUT Addition: 57200

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14683.05 (0.977%)

Combined = August + September + October

Combined Fut Open Interest Change: 1.55%

Combined Fut Volume Change: -57.81%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 2% Previous 2%

MIDCPNIFTY AUGUST Future closed at: 14729.85 (0.804%)

Aug Fut Premium 46.8 (Decreased by -24.55 points)

Aug Fut Open Interest Change: 1.52%

Aug Fut Volume Change: -58.09%

Aug Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY SEPTEMBER Future closed at: 14780.9 (0.736%)

Sep Fut Premium 97.85 (Decreased by -33.95 points)

Sep Fut Open Interest Change: 2.31%

Sep Fut Volume Change: -51.27%

Sep Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY Monthly Expiry (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.040 (Decreased from 1.083)

Put-Call Ratio (Volume): 0.899

Max Pain Level: 14600

Maximum CALL Open Interest: 15500

Maximum PUT Open Interest: 14000

Highest CALL Addition: 15500

Highest PUT Addition: 13600

SENSEX Monthly Expiry (30/07/2026) Future

SENSEX Spot closed at: 77,654.60 (1.158%)

SENSEX Monthly Future closed at: 77,657.55 (1.016%)

Premium: 2.95 (Decreased by -107.68 points)

Open Interest Change: -4.35%

Volume Change: 199.37%

Open Interest Analysis: Short Covering

SENSEX Weekly Expiry (30/07/2026) Option Analysis

Put-Call Ratio (OI): 1.844 (Increased from 1.055)

Put-Call Ratio (Volume): 0.979

Max Pain Level: 77500

Maximum CALL OI: 78500

Maximum PUT OI: 75000

Highest CALL Addition: 77600

Highest PUT Addition: 77500

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 2,981.87 Cr.

DIIs Net BUY: ₹ 998.02 Cr.

FII Derivatives Activity

FII Trading Stats	29.07.26	28.07.26	27.07.26
FII Cash (Provisional Data)	2,981.87	755.33	-1,688.23
Index Future Open Interest Long Ratio	9.62%	8.77%	8.78%
Index Future Volume Long Ratio	67.16%	43.32%	51.90%
Call Option Open Interest Long Ratio	41.78%	35.56%	43.01%
Call Option Volume Long Ratio	51.63%	49.56%	50.18%
Put Option Open Interest Long Ratio	72.11%	77.61%	63.63%
Put Option Volume Long Ratio	49.24%	49.89%	49.73%
Stock Future Open Interest Long Ratio	54.90%	54.36%	54.76%
Stock Future Volume Long Ratio	54.81%	51.83%	51.08%
Index Futures	Short Covering	Long Covering	Short Covering
Index Options	Fresh Long	Long Covering	Fresh Short
Nifty Futures	Short Covering	Long Covering	Short Covering
Nifty Options	Fresh Long	Long Covering	Fresh Short
BankNifty Futures	Fresh Long	Long Covering	Fresh Long
BankNifty Options	Fresh Long	Long Covering	Fresh Short
FinNifty Futures	Long Covering	Long Covering	Fresh Short
FinNifty Options	Fresh Long	Long Covering	Fresh Long
MidcpNifty Futures	Fresh Short	Long Covering	Fresh Long
MidcpNifty Options	Fresh Long	Long Covering	Short Covering
NiftyNxt50 Futures	Fresh Long	Short Covering	Fresh Short
NiftyNxt50 Options	Fresh Long	Long Covering	Fresh Long
Stock Futures	Short Covering	Short Covering	Fresh Long
Stock Options	Fresh Long	Long Covering	Long Covering

NSE & BSE Option market Trends : Options Insights

SENSEX weekly Expiry (30/07/2026)

The SENSEX index closed at 77654.6. The SENSEX weekly expiry for JULY 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.844 against previous 1.055. The 75000PE option holds the maximum open interest, followed by the 77000PE and 77500PE options. Market participants have shown increased interest with significant open interest additions in the 77500PE option, with open interest additions also seen in the 77000PE and 77600PE options. On the other hand, open interest reductions were prominent in the 77000CE, 76800CE, and 76900CE options. Trading volume was highest in the 78000CE option, followed by the 77500PE and 77600CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	30-07-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
77654.6	1.844	1.055	0.979
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,45,26,780	1,87,34,860	57,91,920
PUT:	4,52,15,660	1,97,61,740	2,54,53,920
Top CALL Open Interest:
Strike	OI	OI Change	Volume
78500	18,59,520	5,65,680	5,14,87,420
78000	18,03,160	5,67,600	11,49,93,140
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
77600	9,46,280	6,60,260	9,00,20,680
79000	17,58,660	6,34,900	2,03,47,140
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
77000	4,06,500	-8,75,960	76,96,320
76800	1,34,660	-4,69,060	17,89,980
Top CALL Volume:
Strike	OI	OI Change	Volume
78000	18,03,160	5,67,600	11,49,93,140
77600	9,46,280	6,60,260	9,00,20,680
Top PUT Open Interest:
Strike	OI	OI Change	Volume
75000	27,49,820	14,13,900	2,25,89,560
77000	24,47,400	18,03,120	6,88,95,920
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
77500	22,64,200	20,95,220	10,28,43,840
77000	24,47,400	18,03,120	6,88,95,920
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
71000	2,37,280	-1,60,220	25,73,680
66500	61,660	-1,05,480	5,28,200
Top PUT Volume:
Strike	OI	OI Change	Volume
77500	22,64,200	20,95,220	10,28,43,840
77600	15,83,060	15,62,360	7,88,77,880

NIFTY Weekly Expiry (04/08/2026)

The NIFTY index closed at 24250.2. The NIFTY weekly expiry for AUGUST 4, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.167 against previous 0.926. The 24000PE option holds the maximum open interest, followed by the 25000CE and 24200PE options. Market participants have shown increased interest with significant open interest additions in the 24200PE option, with open interest additions also seen in the 24600CE and 23200PE options. On the other hand, open interest reductions were prominent in the 24000CE, 24100CE, and 24050CE options. Trading volume was highest in the 24200CE option, followed by the 24200PE and 24300CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	04-08-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,250.20	1.167	0.926	0.885
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	10,00,69,710	7,36,36,810	2,64,32,900
PUT:	11,67,81,860	6,81,69,140	4,86,12,720
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	88,98,305	32,05,410	8,63,880
24,700	74,23,650	27,28,895	7,33,722
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
24,600	72,25,400	36,73,540	8,44,976
25,000	88,98,305	32,05,410	8,63,880
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,000	36,10,165	-33,17,080	3,71,155
24,100	19,90,625	-20,51,075	6,86,647
Top CALL Volume:
Strike	OI	OI Change	Volume
24,200	70,18,115	28,63,835	27,01,430
24,300	56,20,225	17,89,645	18,25,563
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	90,86,025	31,74,210	11,48,097
24,200	88,47,540	78,83,720	25,80,607
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,200	88,47,540	78,83,720	25,80,607
23,200	62,00,090	36,71,915	3,81,079
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,050	3,91,170	-1,13,230	50,105
22,950	3,79,015	-44,590	39,630
Top PUT Volume:
Strike	OI	OI Change	Volume
24,200	88,47,540	78,83,720	25,80,607
24,250	30,07,420	29,36,115	13,75,726

NIFTY Monthly Expiry (25/08/2026)

The NIFTY index closed at 24250.2. The NIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.127 against previous 1.104. 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 24200PE option, with open interest additions also seen in the 25500CE and 24300PE options. On the other hand, open interest reductions were prominent in the 24000CE, 24500CE, and 24000PE options. Trading volume was highest in the 24000PE option, followed by the 25000CE and 24500CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	25-08-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,250.20	1.127	1.104	1.150
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	3,90,76,440	3,91,55,415	-78,975
PUT:	4,40,41,725	4,32,42,550	7,99,175
Top CALL Open Interest:
Strike	OI	OI Change	Volume
24,000	64,00,030	-15,35,235	66,456
25,000	47,65,930	80,535	73,116
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,500	23,85,240	4,27,115	28,011
25,200	10,33,370	3,44,500	27,015
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,000	64,00,030	-15,35,235	66,456
24,500	43,73,005	-3,58,735	68,801
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	47,65,930	80,535	73,116
24,500	43,73,005	-3,58,735	68,801
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	76,66,425	-2,88,275	1,05,204
23,500	31,48,275	-67,470	55,976
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,200	18,46,455	4,89,775	51,082
24,300	12,05,035	3,83,695	35,741
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,000	76,66,425	-2,88,275	1,05,204
23,950	1,03,090	-2,10,535	8,995
Top PUT Volume:
Strike	OI	OI Change	Volume
24,000	76,66,425	-2,88,275	1,05,204
23,500	31,48,275	-67,470	55,976

BANKNIFTY Monthly Expiry (25/08/2026)

The BANKNIFTY index closed at 57205.9. The BANKNIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.897 against previous 0.870. The 58000CE option holds the maximum open interest, followed by the 58000PE and 60000CE options. Market participants have shown increased interest with significant open interest additions in the 58000CE option, with open interest additions also seen in the 57200PE and 57000PE options. On the other hand, open interest reductions were prominent in the 59000CE, 57000CE, and 54000PE options. Trading volume was highest in the 57000CE option, followed by the 57000PE and 58000CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	25-08-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
57,205.90	0.897	0.870	0.814
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	99,18,030	87,61,470	11,56,560
PUT:	88,98,930	76,26,060	12,72,870
Top CALL Open Interest:
Strike	OI	OI Change	Volume
58,000	20,51,220	2,54,730	64,784
60,000	10,07,820	91,110	42,986
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
58,000	20,51,220	2,54,730	64,784
57,300	1,80,870	1,03,620	34,101
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
59,000	8,71,080	-71,520	48,641
57,000	6,66,600	-51,270	84,709
Top CALL Volume:
Strike	OI	OI Change	Volume
57,000	6,66,600	-51,270	84,709
58,000	20,51,220	2,54,730	64,784
Top PUT Open Interest:
Strike	OI	OI Change	Volume
58,000	13,13,430	86,400	12,540
57,000	7,57,560	1,52,880	83,409
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
57,200	2,15,130	1,71,690	42,798
57,000	7,57,560	1,52,880	83,409
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
54,000	3,62,100	-46,470	21,457
52,500	1,12,650	-13,950	14,883
Top PUT Volume:
Strike	OI	OI Change	Volume
57,000	7,57,560	1,52,880	83,409
57,200	2,15,130	1,71,690	42,798

MIDCPNIFTY Monthly Expiry (25/08/2026)

The MIDCPNIFTY index closed at 14683.05. The MIDCPNIFTY monthly expiry for AUGUST 25, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.040 against previous 1.083. The 15500CE option holds the maximum open interest, followed by the 14000PE and 13500PE options. Market participants have shown increased interest with significant open interest additions in the 15500CE option, with open interest additions also seen in the 13600PE and 14700CE options. On the other hand, open interest reductions were prominent in the 76200PE, 76200PE, and 76200CE options. Trading volume was highest in the 14700CE option, followed by the 14000PE and 15500CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	25-08-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
14,683.05	1.040	1.083	0.899
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	26,97,720	17,62,440	9,35,280
PUT:	28,06,080	19,08,240	8,97,840
Top CALL Open Interest:
Strike	OI	OI Change	Volume
15,500	4,92,600	2,68,440	5,646
14,700	3,00,720	1,49,160	9,809
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
15,500	4,92,600	2,68,440	5,646
14,700	3,00,720	1,49,160	9,809
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,550	8,880	-9,360	211
14,575	7,440	-8,280	241
Top CALL Volume:
Strike	OI	OI Change	Volume
14,700	3,00,720	1,49,160	9,809
15,500	4,92,600	2,68,440	5,646
Top PUT Open Interest:
Strike	OI	OI Change	Volume
14,000	4,23,720	82,680	8,994
13,500	3,56,400	47,040	1,580
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,600	2,82,120	2,22,000	2,512
14,700	1,56,000	1,05,960	4,646
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
14,550	31,080	-24,000	826
13,100	480	-240	10
Top PUT Volume:
Strike	OI	OI Change	Volume
14,000	4,23,720	82,680	8,994
14,500	3,27,840	19,320	5,197

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

So, how do we actually trade this setup going into the next few sessions? Our Open Interest Volume Analysis strongly points to a “buy on dips” market, but you need to be precise with your entries because premium decay and immediate resistance zones are looming. The data is heavily skewed toward the bulls, but we are also hitting pockets where the market might need to pause and catch its breath. Here is your actionable, data-backed game plan:

Nifty 50 Gameplan: The market’s base has officially shifted higher. With massive put addition and max pain sitting squarely at 24200, treat this as your ultimate line in the sand for long positions. Look to book profits on up-moves closer to the 24600–25000 zone, where call writers have parked their heavy resistance.

BankNifty’s Tug of War: Keep your eyes glued to the 58000 level. We have massive open interest on both the Call and Put sides at this exact strike, making it a critical make-or-break pivot point. A decisive daily close above 58000 will trigger a fresh massive short-covering rally, but until then, expect choppy, range-bound consolidation between 57200 (support) and 58000 (resistance).

Sensex Expiry Day Alert: Proceed with caution here! The PCR has aggressively spiked to 1.844 ahead of tomorrow’s expiry. While the momentum is fiercely bullish with 77500 acting as a rock-solid floor, a PCR this high suggests the index is technically overbought. Don’t chase morning gap-ups; instead, look for intraday dips toward the 77500–77600 zone to initiate low-risk, high-reward long setups.

The Midcap Swing Trade: Since MidcpNifty is the only index showing genuine fresh long additions rather than just short covering, this is where your swing trading focus should be. Use any minor dip toward the 14600 max pain level to accumulate, aiming for the 15500 resistance zone in the August series.

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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