NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 31/07/2026

Sharing is Supporting

Open Interest Volume Analysis

Welcome back to another market wrap, traders! If you’re trying to decode the market’s behavior on July 31, 2026, a deep dive into our latest Open Interest Volume Analysis reveals a crystal-clear narrative: the bears are trapped and scrambling for the exits. Let’s break down what the smart money is actually doing as we settle into the new series:

The Textbook Squeeze: Across the board—from NIFTY to BANKNIFTY and MIDCPNIFTY—we are seeing spot and futures prices inching up while August futures shed Open Interest and volume. This isn’t fresh buying just yet; it’s a classic short-covering rally where early shorters are being forced to buy back their positions.

The September Shift: Here is the real alpha hidden in today’s Open Interest Volume Analysis. While August is all about unwinding shorts, September contracts are showing aggressive “Fresh Long” formations with rising Open Interest, spiking volumes (up 21.5% in Nifty), and aggressively expanding premiums.

The Undertone: What this tells us is that the market isn’t just drifting upward on low participation. Institutional players are rolling over their confidence into the next month, setting the stage for structurally bullish momentum.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24383.6 (0.273%)

Combined = August + September + October

Combined Fut Open Interest Change: -3.51%

Combined Fut Volume Change: -6.71%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 8% Previous 8%

NIFTY AUGUST Future closed at: 24452.6 (0.388%)

Aug Fut Premium 69 (Increased by 28.15 points)

Aug Fut Open Interest Change: -4.24%

Aug Fut Volume Change: -9.38%

Aug Fut Open Interest Analysis: Short Covering

NIFTY SEPTEMBER Future closed at: 24567.5 (0.381%)

Sep Fut Premium 183.9 (Increased by 26.75 points)

Sep Fut Open Interest Change: 2.21%

Sep Fut Volume Change: 21.56%

Sep Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 1.494 (Increased from 1.294)

Put-Call Ratio (Volume): 0.979

Max Pain Level: 24350

Maximum CALL Open Interest: 24600

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24400

Highest PUT Addition: 24400

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

Put-Call Ratio (Open Interest): 1.140 (Increased from 1.137)

Put-Call Ratio (Volume): 1.135

Max Pain Level: 24300

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24800

Highest PUT Addition: 24400

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 57264.85 (0.205%)

Combined = August + September + October

Combined Fut Open Interest Change: -0.29%

Combined Fut Volume Change: -27.09%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 8% Previous 7%

BANKNIFTY AUGUST Future closed at: 57425.2 (0.228%)

Aug Fut Premium 160.35 (Increased by 13.25 points)

Aug Fut Open Interest Change: -0.6%

Aug Fut Volume Change: -28.0%

Aug Fut Open Interest Analysis: Short Covering

BANKNIFTY SEPTEMBER Future closed at: 57790.4 (0.237%)

Sep Fut Premium 525.55 (Increased by 19.25 points)

Sep Fut Open Interest Change: 1.67%

Sep Fut Volume Change: -15.58%

Sep Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 0.857 (Decreased from 0.885)

Put-Call Ratio (Volume): 0.799

Max Pain Level: 57500

Maximum CALL Open Interest: 58000

Maximum PUT Open Interest: 58000

Highest CALL Addition: 57500

Highest PUT Addition: 57000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14784.4 (0.734%)

Combined = August + September + October

Combined Fut Open Interest Change: -0.85%

Combined Fut Volume Change: 5.75%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 3% Previous 2%

MIDCPNIFTY AUGUST Future closed at: 14816.55 (0.757%)

Aug Fut Premium 32.15 (Increased by 3.6 points)

Aug Fut Open Interest Change: -1.04%

Aug Fut Volume Change: 1.06%

Aug Fut Open Interest Analysis: Short Covering

MIDCPNIFTY SEPTEMBER Future closed at: 14855.35 (0.688%)

Sep Fut Premium 70.95 (Decreased by -6.2 points)

Sep Fut Open Interest Change: 1.33%

Sep Fut Volume Change: 118.37%

Sep Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 1.056 (Increased from 0.995)

Put-Call Ratio (Volume): 0.804

Max Pain Level: 14700

Maximum CALL Open Interest: 15500

Maximum PUT Open Interest: 13600

Highest CALL Addition: 15000

Highest PUT Addition: 14700

SENSEX Monthly Expiry (27/08/2026) Future

SENSEX Spot closed at: 78,094.64 (0.214%)

SENSEX Monthly Future closed at: 78,397.80 (0.427%)

Premium: 303.16 (Increased by 166.81 points)

Open Interest Change: 10.82%

Volume Change: -11.28%

Open Interest Analysis: Fresh Long

SENSEX Weekly Expiry (06/08/2026) Option Analysis

Put-Call Ratio (OI): 1.197 (Decreased from 1.231)

Put-Call Ratio (Volume): 0.902

Max Pain Level: 78000

Maximum CALL OI: 80000

Maximum PUT OI: 78000

Highest CALL Addition: 78000

Highest PUT Addition: 78000

FII & DII Cash Market Activity

FIIs Net BUY: ₹277.48 Cr.

DIIs Net BUY: ₹ 2,260.37 Cr.

FII Derivatives Activity

FII Trading Stats31.07.2630.07.2629.07.26
FII Cash (Provisional Data)277.483,623.512,981.87
    
Index Future Open Interest Long Ratio11.12%10.38%9.62%
Index Future Volume Long Ratio81.22%63.99%67.16%
Call Option Open Interest Long Ratio41.53%41.40%41.78%
Call Option Volume Long Ratio49.92%49.78%51.63%
Put Option Open Interest Long Ratio66.66%69.07%72.11%
Put Option Volume Long Ratio50.11%49.51%49.24%
Stock Future Open Interest Long Ratio55.06%54.88%54.90%
Stock Future Volume Long Ratio51.70%49.63%54.81%
    
Index FuturesShort CoveringShort CoveringShort Covering
Index OptionsFresh LongFresh ShortFresh Long
    
Nifty FuturesShort CoveringShort CoveringShort Covering
Nifty OptionsFresh LongFresh ShortFresh Long
    
BankNifty FuturesFresh LongFresh ShortFresh Long
BankNifty OptionsFresh LongFresh LongFresh Long
    
FinNifty FuturesFresh LongLong CoveringLong Covering
FinNifty OptionsFresh LongFresh ShortFresh Long
    
MidcpNifty FuturesFresh ShortShort CoveringFresh Short
MidcpNifty OptionsFresh ShortFresh LongFresh Long
    
NiftyNxt50 FuturesFresh ShortLong CoveringFresh Long
NiftyNxt50 OptionsFresh LongFresh ShortFresh Long
    
Stock FuturesFresh LongLong CoveringShort Covering
Stock OptionsFresh ShortFresh ShortFresh Long

SENSEX weekly Expiry (06/08/2026)

The SENSEX index closed at 78094.64. The SENSEX weekly expiry for AUGUST 6, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.197 against previous 1.231. The 78000PE option holds the maximum open interest, followed by the 80000CE and 78000CE options. Market participants have shown increased interest with significant open interest additions in the 78000PE option, with open interest additions also seen in the 78000CE and 78300CE options. On the other hand, open interest reductions were prominent in the 77500CE, 77800CE, and 77700CE options. Trading volume was highest in the 78000PE option, followed by the 78000CE and 78200CE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:06-08-2026
Index SpotPCR OIPrev PCR OIPCR VOL
78094.641.1971.2310.902
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:      89,31,660        44,34,960           44,96,700
PUT:  1,06,95,400        54,58,400           52,37,000
Top CALL Open Interest:
StrikeOIOI ChangeVolume
80000        6,88,880          2,08,980           54,67,220
78000        6,30,300          3,59,940        2,17,23,740
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
78000        6,30,300          3,59,940        2,17,23,740
78300        3,39,520          3,07,800           98,45,840
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
77500        1,34,920        -1,22,380           13,46,400
77800        1,14,320            -94,260           44,77,900
Top CALL Volume:
StrikeOIOI ChangeVolume
78000        6,30,300          3,59,940        2,17,23,740
78200        3,22,260          2,74,800        1,32,18,460
Top PUT Open Interest:
StrikeOIOI ChangeVolume
78000        7,52,840          5,37,120        2,22,16,420
77500        6,26,320          2,28,000           88,39,960
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
78000        7,52,840          5,37,120        2,22,16,420
78200        3,09,360          2,90,220           97,76,940
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
75800            73,740            -33,620              6,80,780
77700        2,99,940            -26,140           66,71,300
Top PUT Volume:
StrikeOIOI ChangeVolume
78000        7,52,840          5,37,120        2,22,16,420
77900        3,73,760          2,24,860        1,09,42,880

NIFTY Weekly Expiry (04/08/2026)

The NIFTY index closed at 24383.6. The NIFTY weekly expiry for AUGUST 4, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.494 against previous 1.294. The 24000PE option holds the maximum open interest, followed by the 24600CE and 24200PE options. Market participants have shown increased interest with significant open interest additions in the 24400PE option, with open interest additions also seen in the 24350PE and 24300PE options. On the other hand, open interest reductions were prominent in the 24200CE, 24250CE, and 24300CE options. Trading volume was highest in the 24400CE option, followed by the 24350CE and 24350PE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:04-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,383.60                1.494                  1.294               0.979
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 13,03,05,630   11,18,67,470   1,84,38,160
 PUT: 19,46,88,260   14,47,17,235   4,99,71,025
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,600    1,20,35,075         18,56,660       28,14,363
               25,000    1,08,99,850         22,48,350       10,01,992
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,400       83,27,865         34,81,400       67,94,099
               25,000    1,08,99,850         22,48,350       10,01,992
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,200       33,36,515        -24,99,185       10,19,573
               24,250       17,01,440        -17,25,425         9,27,714
 Top CALL Volume:
 Strike OI OI Change Volume
               24,400       83,27,865         34,81,400       67,94,099
               24,350       39,91,780         14,48,395       49,86,586
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000    1,46,86,165         37,55,895       17,56,313
               24,200    1,18,14,790         10,47,280       26,38,271
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,400       60,86,600         45,37,195       49,63,564
               24,350       57,86,105         45,20,230       49,82,605
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,400       56,72,290        -15,27,240         6,19,169
               21,600       37,09,680          -3,03,225         1,07,458
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,350       57,86,105         45,20,230       49,82,605
               24,400       60,86,600         45,37,195       49,63,564

NIFTY Monthly Expiry (25/08/2026)

The NIFTY index closed at 24383.6. The NIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.140 against previous 1.137. 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 24800CE option, with open interest additions also seen in the 24400PE and 24400CE options. On the other hand, open interest reductions were prominent in the 24200CE, 24000CE, and 24300CE options. Trading volume was highest in the 24000PE option, followed by the 24500CE and 25000CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,383.60                1.140                  1.137               1.135
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    4,23,71,355      4,08,90,655       14,80,700
 PUT:    4,83,19,375      4,65,10,165       18,09,210
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000       60,78,605          -1,94,675             16,696
               25,000       54,34,650            1,56,130             70,783
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,800       22,13,445            9,82,345             41,108
               24,400       12,34,935            4,79,115             38,840
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,200       14,71,665          -2,11,380             23,592
               24,000       60,78,605          -1,94,675             16,696
 Top CALL Volume:
 Strike OI OI Change Volume
               24,500       43,90,230              -59,670             72,819
               25,000       54,34,650            1,56,130             70,783
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       81,71,800            2,16,580             75,967
               23,500       31,88,380              -77,740             36,229
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,400       15,58,180            6,87,115             47,716
               24,500       31,61,340            3,65,105             40,447
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,100          3,32,735          -1,06,925               6,752
               23,300          5,06,870          -1,03,610               9,178
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,000       81,71,800            2,16,580             75,967
               24,400       15,58,180            6,87,115             47,716

BANKNIFTY Monthly Expiry (25/08/2026)

The BANKNIFTY index closed at 57264.85. The BANKNIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.857 against previous 0.885. 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 57500CE option, with open interest additions also seen in the 58500CE and 57000PE options. On the other hand, open interest reductions were prominent in the 57900PE, 53000PE, and 61000CE options. Trading volume was highest in the 58000CE option, followed by the 57500CE and 57200CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         57,264.85                0.857                  0.885               0.799
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,14,32,550      1,09,92,720         4,39,830
 PUT:       97,98,510         97,26,720             71,790
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               58,000       21,53,460               28,020             77,553
               60,000       11,68,620               48,360             47,624
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               57,500          6,24,900            1,23,750             74,418
               58,500          4,83,720               68,850             26,212
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               61,000          5,46,420              -43,500             18,986
               57,000          7,75,440              -28,500             48,642
 Top CALL Volume:
 Strike OI OI Change Volume
               58,000       21,53,460               28,020             77,553
               57,500          6,24,900            1,23,750             74,418
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               58,000       13,15,500                  3,090             12,130
               57,000          9,04,020               56,970             63,858
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               57,000          9,04,020               56,970             63,858
               50,000          3,53,940               56,460               6,347
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               57,900             62,250              -83,430             12,921
               53,000          3,67,800              -51,180             13,971
 Top PUT Volume: 
 Strike OI OI Change Volume
               57,000          9,04,020               56,970             63,858
               57,200          1,63,830               16,650             47,193

MIDCPNIFTY Monthly Expiry (25/08/2026)

The MIDCPNIFTY index closed at 14784.4. The MIDCPNIFTY monthly expiry for AUGUST 25, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.056 against previous 0.995. The 15500CE option holds the maximum open interest, followed by the 15000CE and 13600PE options. Market participants have shown increased interest with significant open interest additions in the 15000CE option, with open interest additions also seen in the 14700PE and 15500CE options. On the other hand, open interest reductions were prominent in the 72000CE, 72000CE, and 72000CE options. Trading volume was highest in the 15000CE option, followed by the 14800CE and 14700PE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,784.40                1.056                  0.995               0.804
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       34,62,480         33,09,240         1,53,240
 PUT:       36,54,840         32,91,120         3,63,720
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,500          7,53,720               89,040               4,741
               15,000          4,68,360            1,32,360             19,128
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               15,000          4,68,360            1,32,360             19,128
               15,500          7,53,720               89,040               4,741
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               14,500          1,81,560              -81,000               2,816
               14,800          2,38,920              -66,360               8,924
 Top CALL Volume:
 Strike OI OI Change Volume
               15,000          4,68,360            1,32,360             19,128
               14,800          2,38,920              -66,360               8,924
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,600          4,59,240                  5,040                   547
               14,000          4,00,560              -21,600               5,249
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               14,700          3,15,960            1,20,360               7,397
               14,100             94,200               72,240               2,172
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               14,200          1,25,520              -71,040               2,492
               14,650             52,800              -31,800               1,066
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,700          3,15,960            1,20,360               7,397
               14,800          2,24,640               56,400               5,569

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

So, how exactly do we trade this setup in the coming sessions? Based on the granular details of today’s Open Interest Volume Analysis, here is your actionable trading feedback and final reasoning:

Buy the NIFTY Dips: With Nifty’s weekly PCR surging to a highly bullish 1.494 and premiums expanding by almost 28 points, the bias is strictly positive. However, the identical, aggressive writing of both Calls and Puts at 24,400 points to a fierce tug-of-war at current levels. Actionable tip: Avoid buying at the absolute top of the day; instead, use any intraday dip toward the max pain of 24,350 as a low-risk entry for long positions, keeping a strict stop below the heavy 24,000 Put support.

Play BANKNIFTY for Consolidation: BankNifty is the only laggard showing a slight dip in its PCR (0.857) alongside a massive volume drop (-28%). With max pain at 57,500 and the highest additions boxed tightly between 57,000 (Puts) and 57,500 (Calls), this index is gearing up for a sideways, range-bound expiry. Actionable tip: Deploy non-directional strategies like Iron Condors or short strangles here; wait for a decisive close above the 58,000 max Call OI before initiating aggressive directional longs.

Hunt for Alpha in SENSEX & Midcaps: This is where the real fireworks are happening. SENSEX monthly futures defied the short-covering trend to add a massive 10.8% in Open Interest alongside a 166-point premium explosion—a textbook “Fresh Long” breakout. Similarly, Midcaps closed up 0.73% with massive September volume spikes. Actionable tip: Allocate your directional, high-momentum trades toward Midcaps and Sensex, treating the 78,000 Sensex straddle zone as your immediate launchpad.

The Final Word: Our deep Open Interest Volume Analysis confirms that as long as we sustain above immediate max pain levels, the path of least resistance remains up. Trust the September fresh longs, respect the Nifty 24,400 pivot, and trade what you see!

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.


Sharing is Supporting

Leave a Reply

Your email address will not be published. Required fields are marked *