Is the Markets on the Edge? Decoding Critical F&O Market Signals for 27/05/2025

The F&O market signals on 27th May 2025 flashed caution as Nifty futures tumbled 0.69% to 24,862.60, with spot closing at 24,826.2 (-0.70%) amid aggressive long unwinding (-18.4% OI). BankNifty futures mirrored the weakness, dropping 0.39% to 55,472.60, while its PCR (OI) slid to 0.821, reflecting heightened call writing. Nifty’s max pain held firm at 24,800, but a sharp PCR (OI) drop to 0.749 and heavy call additions at 26,000 signal bearish dominance. Meanwhile, MIDCPNIFTY’s resilience (-0.20% futures) and rising premiums (+10.4 points) hint at selective midcap accumulation. Let’s unravel the derivative clues shaping this volatile expiry week.

NSE Index F&O Market Signals

NIFTY MAY Future

NIFTY Spot closed at: 24,826.20 (-0.70%)

NIFTY MAY Future closed at: 24,862.60 (-0.69%)

Premium: 36.4 (Increased by 1.65 points)

Open Interest Change: -18.4%

Volume Change: 94.3%

NIFTY Monthly Expiry (29/05/2025) Option Analysis

Put-Call Ratio (OI): 0.749 (Decreased from 1.010)

Put-Call Ratio (Volume): 0.837

Max Pain Level: 24800

Maximum CALL OI: 26000

Maximum PUT OI: 24000

Highest CALL Addition: 26000

Highest PUT Addition: 24200

BANKNIFTY MAY Future

BANKNIFTY Spot closed at: 55,352.80 (-0.39%)

BANKNIFTY MAY Future closed at: 55,472.60 (-0.39%)

Premium: 119.8 (Increased by 4.8 points)

Open Interest Change: -24.1%

Volume Change: 55.2%

BANKNIFTY Monthly Expiry (29/05/2025) Option Analysis

Put-Call Ratio (OI): 0.821 (Decreased from 0.843)

Put-Call Ratio (Volume): 0.840

Max Pain Level: 55200

Maximum CALL OI: 63000

Maximum PUT OI: 53000

Highest CALL Addition: 57500

Highest PUT Addition: 53000

FINNIFTY MAY Future

FINNIFTY Spot closed at: 26,420.80 (-0.64%)

FINNIFTY MAY Future closed at: 26,480.30 (-0.62%)

Premium:  59.5 (Increased by 6.4 points)

Open Interest Change: -13.9%

Volume Change: 36.1%

FINNIFTY Monthly Expiry (29/05/2025) Option Analysis

Put-Call Ratio (OI): 0.852 (Decreased from 0.891)

Put-Call Ratio (Volume): 0.812

Max Pain Level: 26400

Maximum CALL OI: 28000

Maximum PUT OI: 24500

Highest CALL Addition: 26400

Highest PUT Addition: 24500

MIDCPNIFTY MAY Future

MIDCPNIFTY Spot closed at: 12,618.35 (-0.28%)

MIDCPNIFTY MAY Future closed at: 12,659.70 (-0.20%)

Premium: 41.35 (Increased by 10.4 points)

Open Interest Change: -28.7%

Volume Change: 43.3%

MIDCPNIFTY Monthly Expiry (29/05/2025) Option Analysis

Put-Call Ratio (OI): 0.904 (Decreased from 0.958)

Put-Call Ratio (Volume): 0.847

Max Pain Level: 12500

Maximum CALL OI: 13000

Maximum PUT OI: 12000

Highest CALL Addition: 13050

Highest PUT Addition: 12150

SENSEX Weekly Expiry (03/06/2025) Future

SENSEX Spot closed at: 81,551.63 (-0.76%)

SENSEX Weekly Future closed at: 81,618.05 (-0.79%)

Premium: 66.42 (Decreased by -23.93 points)

Open Interest Change: 319.2%

Volume Change: 819.9%

SENSEX Weekly Expiry (03/06/2025) Option Analysis

Put-Call Ratio (OI): 0.819 (Increased from 0.784)

Put-Call Ratio (Volume): 0.787

Max Pain Level: 81500

Maximum CALL OI: 81500

Maximum PUT OI: 81500

Highest CALL Addition: 81500

Highest PUT Addition: 81500

FII & DII Cash Market Activity

FIIs Net Buy: ₹ 348.45 Cr
DIIs Net Buy: ₹ 10,104.66 Cr

FII Derivatives Activity

FII Trading Stats	27.05.25	26.05.25	23.05.25
FII Cash (Provisional Data)	348.45	135.98	1,794.59
Index Future Open Interest Long Ratio	31.35%	34.74%	32.99%
Index Future Volume Long Ratio	44.46%	51.96%	50.87%
Call Option Open Interest Long Ratio	61.72%	63.73%	60.34%
Call Option Volume Long Ratio	50.14%	51.27%	50.71%
Put Option Open Interest Long Ratio	64.33%	62.89%	59.60%
Put Option Volume Long Ratio	50.63%	51.21%	50.16%
Stock Future Open Interest Long Ratio	64.56%	64.98%	64.89%
Stock Future Volume Long Ratio	49.63%	50.18%	52.43%
Index Futures	Fresh Short	Fresh Long	Fresh Long
Index Options	Fresh Long	Fresh Long	Fresh Long
Nifty Futures	Fresh Short	Fresh Long	Fresh Short
Nifty Options	Fresh Long	Fresh Long	Fresh Long
BankNifty Futures	Long Covering	Long Covering	Short Covering
BankNifty Options	Fresh Long	Fresh Long	Fresh Long
FinNifty Futures	Fresh Short	Fresh Long	Fresh Long
FinNifty Options	Fresh Short	Fresh Long	Fresh Long
MidcpNifty Futures	Long Covering	Short Covering	Long Covering
MidcpNifty Options	Fresh Long	Short Covering	Fresh Long
NiftyNxt50 Futures	Long Covering	Fresh Short	Fresh Short
NiftyNxt50 Options	Long Covering	Fresh Long	Fresh Long
Stock Futures	Fresh Short	Fresh Long	Fresh Long
Stock Options	Fresh Long	Fresh Long	Fresh Long

NSE Index F&O Market Signals | Options Insights

NIFTY Monthly Expiry (29/05/2025)

The NIFTY index closed at 24826.2. The NIFTY monthly expiry for MAY 29, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.749 against previous 1.010. The 26000CE option holds the maximum open interest, followed by the 26800CE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 24800CE and 26200CE options. On the other hand, open interest reductions were prominent in the 24500PE, 24000PE, and 24950PE options. Trading volume was highest in the 25000CE option, followed by the 24800PE and 24800CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	29-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,826.20	0.749	1.010	0.837
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	21,04,36,950	15,90,90,750	5,13,46,200
PUT:	15,76,73,475	16,07,46,675	-30,73,200
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	1,85,35,575	41,53,875	14,35,376
26,800	1,33,99,425	27,36,600	6,70,581
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	1,85,35,575	41,53,875	14,35,376
24,800	73,62,750	41,04,300	18,35,521
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
22,000	4,34,475	-1,45,500	2,689
23,600	1,75,125	-1,24,575	2,272
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	1,27,50,075	23,47,875	26,42,654
24,800	73,62,750	41,04,300	18,35,521
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	1,16,58,600	-7,86,375	12,69,620
23,000	94,48,350	-2,47,800	2,71,360
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,200	84,55,950	24,93,675	10,34,135
24,800	68,26,275	10,30,050	25,31,517
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	86,41,650	-12,93,825	17,92,674
24,000	1,16,58,600	-7,86,375	12,69,620
Top PUT Volume:
Strike	OI	OI Change	Volume
24,800	68,26,275	10,30,050	25,31,517
24,500	86,41,650	-12,93,825	17,92,674

BANKNIFTY Monthly Expiry (29/05/2025)

The BANKNIFTY index closed at 55352.8. The BANKNIFTY monthly expiry for MAY 29, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.821 against previous 0.843. The 63000CE option holds the maximum open interest, followed by the 56000CE and 53000PE options. Market participants have shown increased interest with significant open interest additions in the 53000PE option, with open interest additions also seen in the 57500CE and 58500CE options. On the other hand, open interest reductions were prominent in the 60000CE, 59000CE, and 51000PE options. Trading volume was highest in the 55500CE option, followed by the 55000PE and 56000CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	29-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
55,352.80	0.821	0.843	0.840
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	2,92,76,250	2,74,51,389	18,24,861
PUT:	2,40,22,020	2,31,50,730	8,71,290
Top CALL Open Interest:
Strike	OI	OI Change	Volume
63,000	20,35,440	33,840	1,24,939
56,000	17,12,670	1,75,980	4,30,218
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
57,500	11,61,510	3,33,480	3,33,884
58,500	13,58,760	2,94,240	2,41,662
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
60,000	12,45,300	-1,87,500	1,15,097
59,000	13,88,700	-1,63,140	2,52,555
Top CALL Volume:
Strike	OI	OI Change	Volume
55,500	15,63,870	2,24,670	4,65,618
56,000	17,12,670	1,75,980	4,30,218
Top PUT Open Interest:
Strike	OI	OI Change	Volume
53,000	17,08,800	3,55,740	2,50,278
55,000	15,51,900	-99,870	4,63,546
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
53,000	17,08,800	3,55,740	2,50,278
53,500	10,28,880	2,39,490	1,94,955
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
51,000	8,28,090	-1,01,220	1,14,866
55,000	15,51,900	-99,870	4,63,546
Top PUT Volume:
Strike	OI	OI Change	Volume
55,000	15,51,900	-99,870	4,63,546
55,500	14,26,350	21,750	4,05,302

FINNIFTY Monthly Expiry (29/05/2025)

The FINNIFTY index closed at 26420.8. The FINNIFTY monthly expiry for MAY 29, 2025, has revealed key trends in open interest. The current Put/Call Ratio is at 0.852 against previous 0.891. The 28000CE option holds the maximum open interest, followed by the 27000CE and 29500CE options. Market participants have shown increased interest with significant open interest additions in the 26400CE option, with open interest additions also seen in the 24500PE and 25400PE options. On the other hand, open interest reductions were prominent in the 26700CE, 25000PE, and 26900CE options. Trading volume was highest in the 26000PE option, followed by the 27500CE and 27000CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	29-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
26,420.80	0.852	0.891	0.812
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	23,10,425	21,80,100	1,30,325
PUT:	19,67,615	19,43,045	24,570
Top CALL Open Interest:
Strike	OI	OI Change	Volume
28,000	1,52,360	24,440	7,476
27,000	1,48,850	-13,975	16,718
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,400	1,12,190	68,965	11,914
28,100	58,630	40,755	2,186
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,700	54,925	-31,070	5,668
26,900	30,420	-22,685	7,301
Top CALL Volume:
Strike	OI	OI Change	Volume
27,500	1,20,250	13,065	17,900
27,000	1,48,850	-13,975	16,718
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,500	1,26,945	53,690	4,743
26,000	1,21,355	-10,010	19,516
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,500	1,26,945	53,690	4,743
25,400	1,11,475	43,875	3,546
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	91,130	-29,445	8,837
26,700	29,120	-21,970	1,649
Top PUT Volume:
Strike	OI	OI Change	Volume
26,000	1,21,355	-10,010	19,516
26,500	84,175	-13,390	14,048

MIDCPNIFTY Monthly Expiry (29/05/2025)

The MIDCPNIFTY index closed at 12618.35. The MIDCPNIFTY monthly expiry for MAY 29, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.904 against previous 0.958. The 13000CE option holds the maximum open interest, followed by the 13500CE and 12000PE options. Market participants have shown increased interest with significant open interest additions in the 13050CE option, with open interest additions also seen in the 12150PE and 13250CE options. On the other hand, open interest reductions were prominent in the 68000CE, 67000CE, and 67000PE options. Trading volume was highest in the 12600PE option, followed by the 12800CE and 12700CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	29-05-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
12,618.35	0.904	0.958	0.847
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	96,47,040	91,79,280	4,67,760
PUT:	87,25,440	87,89,880	-64,440
Top CALL Open Interest:
Strike	OI	OI Change	Volume
13,000	9,75,360	1,34,280	33,919
13,500	8,87,040	-90,360	15,316
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,050	3,97,440	3,49,800	8,468
13,250	2,35,680	2,00,280	3,748
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
13,800	2,46,840	-2,55,480	5,165
12,700	3,59,880	-1,22,520	36,855
Top CALL Volume:
Strike	OI	OI Change	Volume
12,800	5,74,680	63,960	36,865
12,700	3,59,880	-1,22,520	36,855
Top PUT Open Interest:
Strike	OI	OI Change	Volume
12,000	7,91,760	-50,760	21,031
12,600	5,05,320	57,000	48,145
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,150	3,58,320	2,98,080	7,403
11,950	1,45,080	1,08,360	2,523
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,100	2,86,680	-2,19,840	13,783
12,700	1,83,840	-1,50,480	15,502
Top PUT Volume:
Strike	OI	OI Change	Volume
12,600	5,05,320	57,000	48,145
12,500	4,92,000	-20,880	28,396

Conclusion: What’s the Smart Play in This F&O Market Sentiment Shift?

The 27th May F&O data reveals a market bracing for turbulence: Nifty’s 24,800 max pain and 26,000 call wall create a 24,800–26,000 battleground, while BankNifty’s 55,200 max pain and 63,000 call OI suggest rallies face stiff resistance. The PCR slump across Nifty (-26%), BankNifty (-2.6%), and FINNIFTY (-4.3%) underscores bearish momentum, yet MIDCPNIFTY’s stable PCR (0.904) and premium surge hint at contrarian bets in midcaps. Traders should watch Nifty’s 24,200–24,800 support zone and BankNifty’s 55,200–53,000 levels. With Sensex futures’ OI spiking 319%, straddling 81,500 max pain could offer tactical opportunities. As expiry nears, heeding F&O market signals—PCR shifts, sectoral divergences, and premium trends—will be key to navigating this high-stakes setup.

Check Previous Day’s Nifty 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 on this blog is for informational purposes only and should not be considered as investment advice.