NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 8/09/2026

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Open Interest Volume Analysis

While NIFTY and BANKNIFTY saw aggressive Fresh Shorts rolling into the October series, MIDCPNIFTY completely decoupled from the panic—printing genuine “Fresh Longs” in September contracts and pushing its monthly Put-Call Ratio up from 0.918 to 0.965 with volume PCR above parity (1.022).

When large caps face institutional hedging while the broader market quietly absorbs selling pressure and adds fresh longs, it strongly indicates that domestic money is rotating into midcaps rather than fleeing the market. Let’s dissect the strike inventory and actionable levels so your trading desk knows exactly how to play this rotation!

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 23635.1 (-0.606%)

Combined = September + October + November

Combined Fut Open Interest Change: 3.27%

Combined Fut Volume Change: 0.90%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 14% Previous 12%

NIFTY SEPTEMBER Future closed at: 23749.6 (-0.495%)

Sep Fut Premium 114.5 (Increased by 25.95 points)

Sep Fut Open Interest Change: 1.56%

Sep Fut Volume Change: -5.51%

Sep Fut Open Interest Analysis: Fresh Short

NIFTY OCTOBER Future closed at: 23850.6 (-0.522%)

Oct Fut Premium 215.5 (Increased by 18.85 points)

Oct Fut Open Interest Change: 13.43%

Oct Fut Volume Change: 29.50%

Oct Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (15/09/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.649 (Decreased from 0.665)

Put-Call Ratio (Volume): 0.694

Max Pain Level: 23750

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 23000

Highest CALL Addition: 23700

Highest PUT Addition: 23000

NIFTY Monthly Expiry (29/09/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.043 (Decreased from 1.066)

Put-Call Ratio (Volume): 0.763

Max Pain Level: 24200

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 23800

Highest PUT Addition: 23800

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 56777.55 (-0.544%)

Combined = September + October + November

Combined Fut Open Interest Change: 4.67%

Combined Fut Volume Change: 1.67%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 11% Previous 9%

BANKNIFTY SEPTEMBER Future closed at: 57128.2 (-0.446%)

Sep Fut Premium 350.65 (Increased by 54.95 points)

Sep Fut Open Interest Change: 3.1%

Sep Fut Volume Change: -6.1%

Sep Fut Open Interest Analysis: Fresh Short

BANKNIFTY OCTOBER Future closed at: 57445.6 (-0.443%)

Oct Fut Premium 668.05 (Increased by 54.95 points)

Oct Fut Open Interest Change: 14.88%

Oct Fut Volume Change: 88.14%

Oct Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (29/09/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.889 (Decreased from 0.972)

Put-Call Ratio (Volume): 0.838

Max Pain Level: 57500

Maximum CALL Open Interest: 57500

Maximum PUT Open Interest: 57500

Highest CALL Addition: 57000

Highest PUT Addition: 55000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14672.55 (0.149%)

Combined = September + October + November

Combined Fut Open Interest Change: 1.62%

Combined Fut Volume Change: -13.58%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 4% Previous 4%

MIDCPNIFTY SEPTEMBER Future closed at: 14691.5 (0.051%)

Sep Fut Premium 18.95 (Decreased by -14.35 points)

Sep Fut Open Interest Change: 1.68%

Sep Fut Volume Change: -13.55%

Sep Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY OCTOBER Future closed at: 14732.6 (-0.005%)

Oct Fut Premium 60.05 (Decreased by -22.55 points)

Oct Fut Open Interest Change: 0.00%

Oct Fut Volume Change: -30.77%

Oct Fut Open Interest Analysis: Long Covering

MIDCPNIFTY Monthly Expiry (29/09/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.965 (Increased from 0.918)

Put-Call Ratio (Volume): 1.022

Max Pain Level: 14800

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 14000

Highest CALL Addition: 14700

Highest PUT Addition: 14000

SENSEX Monthly Expiry (24/09/2026) Future

SENSEX Spot closed at: 75,577.58 (-0.729%)

SENSEX Monthly Future closed at: 76,076.20 (-0.642%)

Premium: 498.62 (Increased by 63.28 points)

Open Interest Change: 9.67%

Volume Change: 45.47%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (10/09/2026) Option Analysis

Put-Call Ratio (OI): 0.625 (Increased from 0.622)

Put-Call Ratio (Volume): 0.918

Max Pain Level: 75900

Maximum CALL OI: 77000

Maximum PUT OI: 75000

Highest CALL Addition: 76000

Highest PUT Addition: 72500

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 123.19 Cr.

DIIs Net BUY: ₹ 1,349.64 Cr.

FII Derivatives Activity

FII Trading Stats8.09.267.09.264.09.26
FII Cash (Provisional Data)-123.19280.13-3,111.94
    
Index Future Open Interest Long Ratio11.07%10.93%11.11%
Index Future Volume Long Ratio29.98%28.38%47.47%
Call Option Open Interest Long Ratio37.69%42.13%39.36%
Call Option Volume Long Ratio50.28%50.04%50.08%
Put Option Open Interest Long Ratio75.15%70.00%68.62%
Put Option Volume Long Ratio50.09%50.33%49.40%
Stock Future Open Interest Long Ratio54.70%54.78%55.01%
Stock Future Volume Long Ratio48.70%46.07%52.22%
    
Index FuturesFresh ShortFresh ShortFresh Short
Index OptionsShort CoveringFresh LongFresh Short
    
Nifty FuturesFresh ShortFresh ShortFresh Short
Nifty OptionsShort CoveringFresh LongFresh Short
    
BankNifty FuturesFresh ShortFresh ShortLong Covering
BankNifty OptionsFresh LongFresh LongFresh Short
    
FinNifty FuturesFresh ShortLong CoveringFresh Short
FinNifty OptionsFresh ShortFresh ShortShort Covering
    
MidcpNifty FuturesFresh ShortShort CoveringShort Covering
MidcpNifty OptionsFresh ShortFresh ShortFresh Short
    
NiftyNxt50 FuturesFresh ShortLong CoveringFresh Short
NiftyNxt50 OptionsFresh LongFresh LongFresh Long
    
Stock FuturesFresh ShortLong CoveringShort Covering
Stock OptionsFresh LongFresh LongFresh Long

SENSEX weekly Expiry (10/09/2026)

The SENSEX index closed at 75577.58. The SENSEX weekly expiry for SEPTEMBER 10, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.625 against previous 0.622. The 77000CE option holds the maximum open interest, followed by the 76000CE and 78000CE options. Market participants have shown increased interest with significant open interest additions in the 76000CE option, with open interest additions also seen in the 79000CE and 78000CE options. On the other hand, open interest reductions were prominent in the 76100PE, 76200PE

SENSEXWeeklyExpiry:10-09-2026
Index SpotPCR OIPrev PCR OIPCR VOL
75577.580.6250.6220.918
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  3,13,85,500    1,79,69,260        1,34,16,240
PUT:  1,96,19,220    1,11,68,660           84,50,560
Top CALL Open Interest:
StrikeOIOI ChangeVolume
77000      19,49,200          7,39,780        1,30,17,260
76000      18,42,980        12,95,680        2,20,77,300
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
76000      18,42,980        12,95,680        2,20,77,300
79000      16,97,560          9,64,860           81,33,460
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
78900            88,320            -86,560              8,04,860
77300        5,54,000            -62,740           42,66,340
Top CALL Volume:
StrikeOIOI ChangeVolume
76000      18,42,980        12,95,680        2,20,77,300
75800        8,46,120          7,95,220        1,94,19,000
Top PUT Open Interest:
StrikeOIOI ChangeVolume
75000      12,56,880          5,27,240        1,50,03,320
73000      11,92,540          5,87,140           43,44,060
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
72500      10,78,120          8,50,460           32,62,320
74500      11,61,260          8,01,780           57,70,900
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
76100        1,48,380        -2,09,500           54,92,580
76200        1,37,660        -2,08,480           30,13,220
Top PUT Volume:
StrikeOIOI ChangeVolume
75700        3,74,780          2,15,640        2,35,61,400
75800        4,42,040          2,41,900        2,22,06,580

NIFTY Weekly Expiry (15/09/2026)

The NIFTY index closed at 23635.1. The NIFTY weekly expiry for SEPTEMBER 15, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.649 against previous 0.665. The 24000CE option holds the maximum open interest, followed by the 25000CE and 23000PE options. Market participants have shown increased interest with significant open interest additions in the 23700CE option, with open interest additions also seen in the 24000CE and 24500CE options. On the other hand, open interest reductions were prominent in the 23800PE, 23900PE

NIFTYWeekly Expiry:15-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,635.10                0.649                  0.665               0.694
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 11,12,67,520      6,36,48,650   4,76,18,870
 PUT:    7,22,57,900      4,23,46,200   2,99,11,700
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000       82,68,130         34,29,790         3,90,481
               25,000       68,68,095         20,00,635         2,89,905
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               23,700       48,58,620         40,65,620         4,80,345
               24,000       82,68,130         34,29,790         3,90,481
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,600          7,07,980          -2,77,030             29,379
               24,650          5,68,685              -73,385             32,815
 Top CALL Volume:
 Strike OI OI Change Volume
               23,700       48,58,620         40,65,620         4,80,345
               23,800       58,37,260         19,95,435         4,56,545
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               23,000       61,65,120         27,17,390         2,05,914
               22,100       47,22,705         17,70,990         1,20,780
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,000       61,65,120         27,17,390         2,05,914
               23,700       38,70,555         23,83,550         5,05,665
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,800       26,06,890          -5,36,055         2,52,779
               23,900       20,30,990          -3,65,235             83,532
 Top PUT Volume: 
 Strike OI OI Change Volume
               23,700       38,70,555         23,83,550         5,05,665
               23,600       31,16,425         19,65,210         3,44,391

NIFTY Monthly Expiry (29/09/2026)

The NIFTY index closed at 23635.1. The NIFTY monthly expiry for SEPTEMBER 29, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.043 against previous 1.066. 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 23800CE option, with open interest additions also seen in the 24000CE and 23700CE options. On the other hand, open interest reductions were prominent in the 25000CE, 23900PE

NIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,635.10                1.043                  1.066               0.763
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    6,65,06,820      6,47,84,605       17,22,215
 PUT:    6,93,45,345      6,90,51,665         2,93,680
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000       72,62,645            6,15,030         1,09,183
               25,000       65,36,530          -4,19,315             55,031
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               23,800       22,01,810            7,64,595             65,493
               24,000       72,62,645            6,15,030         1,09,183
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,000       65,36,530          -4,19,315             55,031
               24,800       15,01,435          -1,89,020             24,946
 Top CALL Volume:
 Strike OI OI Change Volume
               24,000       72,62,645            6,15,030         1,09,183
               24,500       60,44,675          -1,57,365             66,465
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       72,21,510          -1,22,265             52,067
               23,000       58,93,690               67,795             76,151
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,800       29,33,645            3,30,070             57,191
               23,600       14,14,335            2,63,965             31,297
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,900       12,31,620          -2,13,395             19,745
               23,500       45,83,215          -1,49,435             81,202
 Top PUT Volume: 
 Strike OI OI Change Volume
               23,500       45,83,215          -1,49,435             81,202
               23,000       58,93,690               67,795             76,151

BANKNIFTY Monthly Expiry (29/09/2026)

The BANKNIFTY index closed at 56777.55. The BANKNIFTY monthly expiry for SEPTEMBER 29, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.889 against previous 0.972. The 57500CE option holds the maximum open interest, followed by the 57500PE and 58000CE options. Market participants have shown increased interest with significant open interest additions in the 57000CE option, with open interest additions also seen in the 57500CE and 58000CE options. On the other hand, open interest reductions were prominent in the 57300PE, 57500PE

BANKNIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         56,777.55                0.889                  0.972               0.838
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,50,58,710      1,38,23,940       12,34,770
 PUT:    1,33,80,390      1,34,35,590           -55,200
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               57,500       21,74,400            1,51,620             56,026
               58,000       14,90,820            1,32,600             51,279
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               57,000          7,63,050            2,72,850             87,164
               57,500       21,74,400            1,51,620             56,026
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               60,500          3,80,370              -40,500             17,741
               58,200          1,53,180              -30,660             11,241
 Top CALL Volume:
 Strike OI OI Change Volume
               57,000          7,63,050            2,72,850             87,164
               59,000       10,41,510               16,560             56,659
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               57,500       18,62,070              -71,880             29,015
               57,000          9,23,010               61,590         1,02,673
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               55,000          7,29,660            1,17,300             29,804
               57,000          9,23,010               61,590         1,02,673
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               57,300          1,61,790          -1,37,220             25,978
               57,500       18,62,070              -71,880             29,015
 Top PUT Volume: 
 Strike OI OI Change Volume
               57,000          9,23,010               61,590         1,02,673
               56,900          1,10,100               21,600             64,728

MIDCPNIFTY Monthly Expiry (29/09/2026)

The MIDCPNIFTY index closed at 14672.55. The MIDCPNIFTY monthly expiry for SEPTEMBER 29, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.965 against previous 0.918. The 14000PE option holds the maximum open interest, followed by the 15000CE and 14500PE options. Market participants have shown increased interest with significant open interest additions in the 14000PE option, with open interest additions also seen in the 14200PE and 14600PE options. On the other hand, open interest reductions were prominent in the 67000PE, 69200PE

MIDCPNIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,672.55                0.965                  0.918               1.022
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       50,72,760         51,38,040           -65,280
 PUT:       48,96,600         47,15,400         1,81,200
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,000          6,62,520                  6,120               6,723
               15,500          4,71,360              -35,160               1,991
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               14,700          2,73,840               22,680               7,349
               14,650             42,840                  8,640               2,774
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               15,500          4,71,360              -35,160               1,991
               15,300          3,11,280              -24,000               1,610
 Top CALL Volume:
 Strike OI OI Change Volume
               14,700          2,73,840               22,680               7,349
               15,000          6,62,520                  6,120               6,723
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               14,000       13,32,000               60,720               6,869
               14,500          5,34,120                    -360               5,795
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               14,000       13,32,000               60,720               6,869
               14,200          1,05,600               56,280               3,841
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               14,400          1,11,240                -7,440               1,553
               14,900          2,13,240                -6,720                   228
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,700          2,91,960               14,880               9,193
               14,000       13,32,000               60,720               6,869

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

To wrap up today’s Open Interest Volume Analysis, market participants are navigating a two-speed tape: frontline indices remain under distribution, but the broader market is exhibiting genuine underlying strength:

MIDCPNIFTY (Broader Market Outperformance / Accumulate on Dips): This is the standout setup of the day. Defying widespread selling, midcaps closed in the green (+0.149% spot) backed by +1.68% OI addition in September Fresh Longs. More crucially, the monthly PCR jumped from 0.918 to 0.965 with a volume PCR of 1.022, confirming steady put accumulation below current levels. While the highest Call addition at 14,700 caps immediate momentum, the broader market resilience signals that domestic institutions are actively picking up midcap inventory. Actionable Feedback: Look to buy on intraday pullbacks into the 14,640–14,660 band with a strict stop-loss below 14,600. A decisive breakout above 14,700 can trigger quick short-covering toward the 14,800 Max Pain target.

NIFTY (Heavy Forward Distribution vs. Tactical Basis): Although September futures saw a technical premium bounce (+25.95 pts) on mild additions (+1.56% OI), the October series absorbed a massive +13.43% OI surge in Fresh Shorts, proving that institutional bears are positioning further out on the curve. In the weekly series (15/09 expiry), the PCR sits low at 0.649, with proprietary call writers aggressively piling into the 23,700 strike, while put support is pushed down to 23,000. Actionable Feedback: The 23,700–23,750 zone (Highest Call Addition and Max Pain confluence) is a major supply ceiling. Sell into intraday pullbacks toward 23,700 with a disciplined stop-loss above 23,760, targeting 23,500 and 23,400.

BANKNIFTY (Aggressive Short Roll to Next Month): The banking heavyweight remains under firm institutional pressure. September futures added +3.1% OI, but October exploded with +14.88% OI on an 88% volume spike, confirming clear structural short creation. The monthly PCR slipped below parity to 0.889, while call writers reinforced 57,000 as a formidable barrier. Actionable Feedback: Adopt a “Sell on Rise” posture. Look to initiate shorts on failed attempts near the 56,950–57,050 resistance cluster, keeping risk defined above 57,250, targeting the 56,200 put pocket and the 55,000 base.

SENSEX (Persistent Hedging Drag): SENSEX witnessed heavy monthly short additions, up +9.67% OI on a 45.47% volume surge. The weekly options chain (10/09 expiry) reflects defensive positioning with a depressed 0.625 PCR, while call additions stepped down to 76,000 and put additions dispersed down to 72,500. Actionable Feedback: Upside remains strictly capped below 76,000. Fade any relief rally toward the 75,900 Max Pain mark with a firm stop-loss at 76,100, targeting downside liquidity toward 75,200.

Check Previous Day’s NSE & BSE Indices F&O Analysis

FII / FPI trading activity in Capital Market Segment

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BSE Derivatives Raw Data

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