NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 11/09/2026

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Open Interest Volume Analysis

Running our proprietary Open Interest Volume Analysis, the tape confirms a sharp absorption of selling pressure, marked by aggressive basis expansion, front-month short covering, and structural fresh long accumulation in deferred contracts.

Decoupling the curve reveals where smart money is placing its capital: while NIFTY front-month saw aggressive tactical Short Covering (-2.16% OI) on an 89% volume surge with premium expanding by over 80 points, October futures absorbed +11.38% OI in genuine Fresh Longs.

More crucially, broader market risk appetite returned with force—MIDCPNIFTY futures exploded with +27.75% OI in October on a massive 417% volume spike, while weekly Put-Call Ratios across NIFTY and SENSEX rebounded sharply back above parity to restore market-maker balance. Let’s dissect the strike inventory and exact inflection triggers for Monday’s opening session!

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 23398.1 (-0.339%)

Combined = September + October + November

Combined Fut Open Interest Change: -0.07%

Combined Fut Volume Change: 73.43%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 18% Previous 16%

NIFTY SEPTEMBER Future closed at: 23485.2 (0.005%)

Sep Fut Premium 87.1 (Increased by 80.9 points)

Sep Fut Open Interest Change: -2.16%

Sep Fut Volume Change: 89.00%

Sep Fut Open Interest Analysis: Short Covering

NIFTY OCTOBER Future closed at: 23586.6 (0.011%)

Oct Fut Premium 188.5 (Increased by 82.3 points)

Oct Fut Open Interest Change: 11.38%

Oct Fut Volume Change: 22.60%

Oct Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 1.057 (Increased from 0.640)

Put-Call Ratio (Volume): 0.779

Max Pain Level: 23450

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 23300

Highest CALL Addition: 23800

Highest PUT Addition: 23300

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

Put-Call Ratio (Open Interest): 1.002 (Increased from 0.998)

Put-Call Ratio (Volume): 0.844

Max Pain Level: 24000

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 23000

Highest CALL Addition: 23500

Highest PUT Addition: 22500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 56606.55 (0.238%)

Combined = September + October + November

Combined Fut Open Interest Change: 1.08%

Combined Fut Volume Change: 107.11%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 13% Previous 12%

BANKNIFTY SEPTEMBER Future closed at: 56869.2 (0.482%)

Sep Fut Premium 262.65 (Increased by 138.4 points)

Sep Fut Open Interest Change: 0.0%

Sep Fut Volume Change: 105.9%

Sep Fut Open Interest Analysis: Fresh Long

BANKNIFTY OCTOBER Future closed at: 57152 (0.442%)

Oct Fut Premium 545.45 (Increased by 117 points)

Oct Fut Open Interest Change: 9.24%

Oct Fut Volume Change: 134.32%

Oct Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 0.914 (Increased from 0.820)

Put-Call Ratio (Volume): 0.816

Max Pain Level: 57500

Maximum CALL Open Interest: 57500

Maximum PUT Open Interest: 57500

Highest CALL Addition: 56000

Highest PUT Addition: 54500

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14584.7 (0.388%)

Combined = September + October + November

Combined Fut Open Interest Change: 4.33%

Combined Fut Volume Change: 126.55%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 5% Previous 4%

MIDCPNIFTY SEPTEMBER Future closed at: 14641.3 (0.976%)

Sep Fut Premium 56.6 (Increased by 85.1 points)

Sep Fut Open Interest Change: 3.41%

Sep Fut Volume Change: 116.61%

Sep Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY OCTOBER Future closed at: 14681 (0.882%)

Oct Fut Premium 96.3 (Increased by 72 points)

Oct Fut Open Interest Change: 27.75%

Oct Fut Volume Change: 417.11%

Oct Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 1.003 (Increased from 0.864)

Put-Call Ratio (Volume): 1.066

Max Pain Level: 14650

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 14000

Highest CALL Addition: 14300

Highest PUT Addition: 14300

SENSEX Monthly Expiry (24/09/2026) Future

SENSEX Spot closed at: 74,781.76 (-0.161%)

SENSEX Monthly Future closed at: 75,097.70 (0.041%)

Premium: 315.94 (Increased by 151.53 points)

Open Interest Change: 0.41%

Volume Change: -24.28%

Open Interest Analysis: Fresh Long

SENSEX Weekly Expiry (17/09/2026) Option Analysis

Put-Call Ratio (OI): 1.197 (Increased from 0.885)

Put-Call Ratio (Volume): 0.812

Max Pain Level: 74800

Maximum CALL OI: 75000

Maximum PUT OI: 70000

Highest CALL Addition: 75000

Highest PUT Addition: 70000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 930.90 Cr.

DIIs Net BUY: ₹ 1,968.17 Cr.

FII Derivatives Activity

FII Trading Stats11.09.2610.09.269.09.26
FII Cash (Provisional Data)-930.9-438.24-582.99
    
Index Future Open Interest Long Ratio11.23%10.99%11.02%
Index Future Volume Long Ratio45.50%37.00%32.11%
Call Option Open Interest Long Ratio41.24%39.89%38.35%
Call Option Volume Long Ratio50.16%50.30%49.56%
Put Option Open Interest Long Ratio66.80%70.89%72.29%
Put Option Volume Long Ratio50.04%50.03%50.11%
Stock Future Open Interest Long Ratio54.07%54.25%54.45%
Stock Future Volume Long Ratio47.67%46.68%47.27%
    
Index FuturesFresh ShortFresh ShortFresh Short
Index OptionsFresh LongFresh LongFresh Short
    
Nifty FuturesFresh ShortFresh ShortFresh Short
Nifty OptionsFresh LongFresh LongFresh Short
    
BankNifty FuturesFresh LongFresh LongFresh Long
BankNifty OptionsFresh LongFresh LongFresh Long
    
FinNifty FuturesShort CoveringFresh ShortShort Covering
FinNifty OptionsFresh LongFresh ShortFresh Short
    
MidcpNifty FuturesFresh ShortShort CoveringFresh Short
MidcpNifty OptionsFresh LongFresh LongFresh Short
    
NiftyNxt50 FuturesShort CoveringFresh ShortFresh Long
NiftyNxt50 OptionsFresh ShortFresh ShortFresh Long
    
Stock FuturesFresh ShortFresh ShortLong Covering
Stock OptionsFresh LongFresh LongFresh Long

SENSEX weekly Expiry (17/09/2026)

The SENSEX index closed at 74781.76. The SENSEX weekly expiry for SEPTEMBER 17, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.197 against previous 0.885. The 70000PE option holds the maximum open interest, followed by the 75000CE and 72000PE options. Market participants have shown increased interest with significant open interest additions in the 70000PE option, with open interest additions also seen in the 74000PE and 72000PE options. On the other hand, open interest reductions were prominent in the 76000PE, 75800PE

SENSEXWeeklyExpiry:17-09-2026
Index SpotPCR OIPrev PCR OIPCR VOL
74781.761.1970.8850.812
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  1,07,11,720        50,02,320           57,09,400
PUT:  1,28,20,280        44,27,100           83,93,180
Top CALL Open Interest:
StrikeOIOI ChangeVolume
75000        7,78,200          3,36,380        1,68,94,560
76000        5,97,460          2,24,360        1,16,16,240
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
75000        7,78,200          3,36,380        1,68,94,560
79000        4,66,160          2,93,060           24,01,080
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
70600                  500                       –                             –  
72500                    40                      40                          40
Top CALL Volume:
StrikeOIOI ChangeVolume
75000        7,78,200          3,36,380        1,68,94,560
74500        2,42,260          1,76,040        1,42,50,940
Top PUT Open Interest:
StrikeOIOI ChangeVolume
70000        8,57,120          5,77,380           48,20,700
72000        7,45,200          4,22,260           47,03,080
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
70000        8,57,120          5,77,380           48,20,700
74000        7,25,200          5,07,320        1,20,72,400
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
76000        1,43,580            -17,900                 87,460
75800            10,860              -4,500                 30,460
Top PUT Volume:
StrikeOIOI ChangeVolume
74500        5,88,800          4,14,780        1,40,13,400
74300        4,52,880          3,87,680        1,22,05,280

NIFTY Weekly Expiry (15/09/2026)

The NIFTY index closed at 23398.1. The NIFTY weekly expiry for SEPTEMBER 15, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.057 against previous 0.640. The 23300PE option holds the maximum open interest, followed by the 24000CE and 23000PE options. Market participants have shown increased interest with significant open interest additions in the 23300PE option, with open interest additions also seen in the 23250PE and 22000PE options. On the other hand, open interest reductions were prominent in the 25000CE, 25200CE

NIFTYWeekly Expiry:15-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,398.10                1.057                  0.640               0.779
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 16,95,19,545   19,53,55,160 -2,58,35,615
 PUT: 17,91,23,165   12,49,47,485   5,41,75,680
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000    1,36,68,460          -2,70,335       23,44,476
               23,800    1,15,93,985         20,61,800       25,25,667
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               23,800    1,15,93,985         20,61,800       25,25,667
               23,300       27,77,060         18,47,235       54,76,228
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,000       54,84,245        -30,62,735         4,89,032
               25,200       14,67,895        -24,71,560         1,65,047
 Top CALL Volume:
 Strike OI OI Change Volume
               23,500       92,99,940        -24,09,615       60,77,016
               23,400       61,59,140            4,55,780       59,62,887
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               23,300    1,38,02,295         75,59,760       71,05,072
               23,000    1,23,59,165         17,44,795       27,75,462
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,300    1,38,02,295         75,59,760       71,05,072
               23,250       80,38,615         61,76,040       47,60,009
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,500       42,45,605        -19,99,075       14,43,635
               22,100       30,25,620          -9,99,440         5,86,089
 Top PUT Volume: 
 Strike OI OI Change Volume
               23,300    1,38,02,295         75,59,760       71,05,072
               23,200    1,10,38,040         36,45,460       48,13,332

NIFTY Monthly Expiry (29/09/2026)

The NIFTY index closed at 23398.1. The NIFTY monthly expiry for SEPTEMBER 29, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.002 against previous 0.998. The 24000CE option holds the maximum open interest, followed by the 23000PE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 23500CE option, with open interest additions also seen in the 22500PE and 23300CE options. On the other hand, open interest reductions were prominent in the 24000PE, 24800CE

NIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,398.10                1.002                  0.998               0.844
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    7,33,41,920      7,01,50,330       31,91,590
 PUT:    7,34,99,020      7,00,04,920       34,94,100
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000       85,07,915            2,03,385         1,65,607
               24,500       59,03,040          -1,70,560             70,233
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               23,500       31,96,635            8,00,280         1,45,873
               23,300          8,83,285            7,25,205             64,335
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,800       10,82,770          -2,92,955             23,167
               25,000       56,56,560          -2,00,070             45,347
 Top CALL Volume:
 Strike OI OI Change Volume
               24,000       85,07,915            2,03,385         1,65,607
               23,500       31,96,635            8,00,280         1,45,873
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               23,000       63,27,635            3,80,275         1,50,388
               24,000       60,54,790          -4,27,700             28,905
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               22,500       31,20,000            7,74,020             84,849
               23,250          8,23,810            6,65,145             30,515
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,000       60,54,790          -4,27,700             28,905
               23,700       11,27,555          -2,83,985             21,459
 Top PUT Volume: 
 Strike OI OI Change Volume
               23,000       63,27,635            3,80,275         1,50,388
               23,500       46,24,555              -15,600         1,29,374

BANKNIFTY Monthly Expiry (29/09/2026)

The BANKNIFTY index closed at 56606.55. The BANKNIFTY monthly expiry for SEPTEMBER 29, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.914 against previous 0.820. 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 54500PE option, with open interest additions also seen in the 56000PE and 53000PE options. On the other hand, open interest reductions were prominent in the 57000CE, 57500CE

BANKNIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         56,606.55                0.914                  0.820               0.816
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,60,84,050      1,59,73,680         1,10,370
 PUT:    1,46,97,000      1,30,91,070       16,05,930
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               57,500       21,36,210              -61,530             89,847
               58,000       15,31,260               19,710         1,12,512
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               56,000          2,62,260               80,460             95,458
               61,000          6,72,330               66,840             25,544
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               57,000          8,39,640              -86,100         1,17,156
               57,500       21,36,210              -61,530             89,847
 Top CALL Volume:
 Strike OI OI Change Volume
               56,500          3,99,150              -36,210         1,26,330
               57,000          8,39,640              -86,100         1,17,156
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               57,500       16,71,750              -36,090             13,889
               56,000          8,68,260            1,32,540         1,67,667
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               54,500          4,37,220            1,44,060             35,947
               56,000          8,68,260            1,32,540         1,67,667
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               57,500       16,71,750              -36,090             13,889
               57,900          1,51,800              -28,200               3,967
 Top PUT Volume: 
 Strike OI OI Change Volume
               56,000          8,68,260            1,32,540         1,67,667
               56,500          6,31,200               27,120             92,202

MIDCPNIFTY Monthly Expiry (29/09/2026)

The MIDCPNIFTY index closed at 14584.7. The MIDCPNIFTY monthly expiry for SEPTEMBER 29, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.003 against previous 0.864. 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 14300PE option, with open interest additions also seen in the 13800PE and 14200PE options. On the other hand, open interest reductions were prominent in the 74000CE, 74000CE

MIDCPNIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,584.70                1.003                  0.864               1.066
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       61,40,040         63,06,960       -1,66,920
 PUT:       61,57,200         54,48,000         7,09,200
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,000          7,26,240              -99,240             15,278
               15,500          4,53,120                  7,440               2,506
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               14,300          1,29,360            1,13,400               5,068
               14,400          2,17,920            1,11,720               9,315
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               14,800          3,53,520          -1,04,880             10,575
               15,000          7,26,240              -99,240             15,278
 Top CALL Volume:
 Strike OI OI Change Volume
               14,500          4,03,320                  6,000             17,590
               15,000          7,26,240              -99,240             15,278
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               14,000       12,40,680          -1,76,400             24,856
               14,500          6,79,560                  9,960             18,822
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               14,300          3,85,440            1,57,560             15,675
               13,800          1,69,920            1,35,840               6,007
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               14,000       12,40,680          -1,76,400             24,856
               15,000          3,58,800              -43,800               1,173
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,000       12,40,680          -1,76,400             24,856
               14,500          6,79,560                  9,960             18,822

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

To synthesize today’s Open Interest Volume Analysis, the tape is transitioning from a defensive negative gamma regime into an active inventory-absorption phase, where dips into newly established put bases offer high-probability long setups with defined risk:

NIFTY (Front-Month Short Covering / Next-Month Accumulation): The futures curve saw a massive technical sentiment reset. September futures registered aggressive Short Covering (-2.16% OI) with a sharp basis expansion of +80.9 points, while October absorbed +11.38% OI in structural Fresh Longs. In the weekly series (15/09 expiry), the PCR surged from 0.640 to 1.057, driven by heavy put writing clustering at 23,300 (Maximum Put OI and Highest Put Addition). Actionable Feedback: The 23,300–23,350 band is now our primary structural floor. Adopt a “Buy on Dips” strategy; initiate long exposure on pullbacks toward 23,400 with an invalidation stop-loss below 23,300, targeting the 23,450 Max Pain pivot and a follow-through test of the 23,600/23,800 Call addition zones.

BANKNIFTY (Clean Trend Reversal & Basis Expansion): Banking heavyweights showed textbook institutional accumulation across both tenors. Combined futures volume surged over 107%, September added +138.4 points in basis, and October absorbed +9.24% OI in Fresh Longs on a 134% volume jump. Monthly PCR improved to 0.914, reflecting systematic put writing. Actionable Feedback: The path of least resistance has tilted upward. Avoid shorting into this momentum. Look for long entries on intraday retests of 56,600–56,700 with risk defined strictly below 56,400, targeting an institutional squeeze toward 57,150 and the 57,500 Max Pain magnet.

MIDCPNIFTY (Explosive Forward Long Build-Up): The broader market delivered the highest-conviction setup of the session. September futures surged nearly +1% in price (+3.41% OI, +85 pts premium), but the real institutional footprint landed in October contracts—skyrocketing +27.75% OI on an extraordinary 417.11% volume explosion. Monthly PCR reclaimed parity (1.003). Actionable Feedback: The broader market has officially resumed its leadership role. Treat any pullback toward 14,580–14,600 as a strong accumulation zone, keeping a stop-loss at 14,520, looking for targets at 14,680 and 14,750.

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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