NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 4/11/2025

NIFTY’s Open Interest Volume Analysis signals sustained bearishness: Combined open interest jumps +5.7% on falling prices, confirming aggressive fresh short builds across the November, December, and January series.

Both November and December contracts see significant open interest rise: Price drops of -0.6% in spot and -0.7% in near months, alongside higher OI, reinforce the presence of determined short-sellers.

Premiums continue to deflate: The steady drop in futures premiums reflects limited bullish conviction and suggests any bounce is likely to be sold into.

Put-Call Ratios stay subdued: Weekly PCR at 0.733, monthly at 1.108—well below bullish levels—indicate options writers expect continued resistance on rallies.

Max pain hovers near current price zones: With key option OI levels concentrated around 25700–25900, consolidation or slow drift lower is probable in the near term.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 25597.65 (-0.6%)

Combined = November + December + January

Combined Fut Open Interest Change: 5.7%

Combined Fut Volume Change: 19.6%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 7% Previous 7%

NIFTY NOVEMBER Future closed at: 25708.3 (-0.7%)

November Fut Premium 110.65 (Decreased by -24.9 points)

November Fut Open Interest Change: 5.4%

November Fut Volume Change: 17.5%

November Fut Open Interest Analysis: Fresh Short

NIFTY DECEMBER Future closed at: 25897.9 (-0.7%)

December Fut Premium 300.25 (Decreased by -21.6 points)

December Fut Open Interest Change: 6.7%

December Fut Volume Change: 49.1%

December Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (11/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.733 (Increased from 0.726)

Put-Call Ratio (Volume): 0.803

Max Pain Level: 25700

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 26000

Highest PUT Addition: 25200

NIFTY Monthly Expiry (25/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 1.108 (Decreased from 1.109)

Put-Call Ratio (Volume): 0.867

Max Pain Level: 25900

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 26000

Highest PUT Addition: 25300

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 57827.05 (-0.5%)

Combined = November + December + January

Combined Fut Open Interest Change: -0.9%

Combined Fut Volume Change: -6.3%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 10% Previous 10%

BANKNIFTY NOVEMBER Future closed at: 58117.8 (-0.5%)

November Fut Premium 290.75 (Decreased by -12.2 points)

November Fut Open Interest Change: -1.3%

November Fut Volume Change: -7.5%

November Fut Open Interest Analysis: Long Covering

BANKNIFTY DECEMBER Future closed at: 58481 (-0.5%)

December Fut Premium 653.95 (Increased by 2.8 points)

December Fut Open Interest Change: 1.2%

December Fut Volume Change: 15.2%

December Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (25/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.830 (Decreased from 0.928)

Put-Call Ratio (Volume): 0.965

Max Pain Level: 58000

Maximum CALL Open Interest: 58000

Maximum PUT Open Interest: 58000

Highest CALL Addition: 58000

Highest PUT Addition: 50000

FINNIFTY Future Analysis

FINNIFTY Spot closed at: 27195.8 (-0.4%)

Combined = November + December + January

Combined Fut Open Interest Change: -3.7%

Combined Fut Volume Change: -37.2%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 2% Previous 2%

FINNIFTY NOVEMBER Future closed at: 27327.2 (-0.4%)

November Fut Premium 131.4 (Increased by 0.55 points)

November Fut Open Interest Change: -3.6%

November Fut Volume Change: -35.8%

November Fut Open Interest Analysis: Long Covering

FINNIFTY DECEMBER Future closed at: 27436.8 (-0.7%)

December Fut Premium 241 (Decreased by -78.35 points)

December Fut Open Interest Change: -8.3%

December Fut Volume Change: -80.0%

December Fut Open Interest Analysis: Long Covering

FINNIFTY Monthly Expiry  (25/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.919 (Increased from 0.888)

Put-Call Ratio (Volume): 0.893

Max Pain Level: 27400

Maximum CALL Open Interest: 29000

Maximum PUT Open Interest: 25500

Highest CALL Addition: 29000

Highest PUT Addition: 25500

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13506 (-0.6%)

Combined = November + December + January

Combined Fut Open Interest Change: -5.9%

Combined Fut Volume Change: 30.1%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 3% Previous 2%

MIDCPNIFTY NOVEMBER Future closed at: 13518.9 (-0.9%)

November Fut Premium 12.9 (Decreased by -45.4 points)

November Fut Open Interest Change: -6.4%

November Fut Volume Change: 32.4%

November Fut Open Interest Analysis: Long Covering

MIDCPNIFTY DECEMBER Future closed at: 13584.05 (-0.9%)

December Fut Premium 78.05 (Decreased by -35.55 points)

December Fut Open Interest Change: 17.0%

December Fut Volume Change: -11.3%

December Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY Monthly Expiry  (25/11/2025) Option Analysis

Put-Call Ratio (Open Interest): 0.962 (Decreased from 1.017)

Put-Call Ratio (Volume): 1.055

Max Pain Level: 13500

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 13500

Highest PUT Addition: 12500

SENSEX Monthly Expiry (27/11/2025) Future

SENSEX Spot closed at: 83,459.15 (-0.62%)

SENSEX Monthly Future closed at: 83,966.30 (-0.69%)

Premium: 507.15 (Decreased by -67.71 points)

Open Interest Change: 9.6%

Volume Change: -3.3%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (6/11/2025) Option Analysis

Put-Call Ratio (OI): 0.533 (Decreased from 0.711)

Put-Call Ratio (Volume): 0.913

Max Pain Level: 83700

Maximum CALL OI: 86000

Maximum PUT OI: 82000

Highest CALL Addition: 86000

Highest PUT Addition: 82000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 1,067.01 Cr.
DIIs Net BUY: ₹ 1,202.90 Cr.

FII Derivatives Activity

FII Trading Stats	4.11.25	3.11.25	31.10.25
FII Cash (Provisional Data)	-1,067.01	-1,883.78	-6,769.34
Index Future Open Interest Long Ratio	15.22%	15.61%	16.01%
Index Future Volume Long Ratio	38.66%	37.90%	38.19%
Call Option Open Interest Long Ratio	50.80%	50.39%	50.41%
Call Option Volume Long Ratio	50.33%	49.99%	50.19%
Put Option Open Interest Long Ratio	66.55%	60.50%	62.53%
Put Option Volume Long Ratio	50.76%	49.87%	50.11%
Stock Future Open Interest Long Ratio	60.91%	61.57%	61.74%
Stock Future Volume Long Ratio	44.10%	48.43%	48.37%
Index Futures	Fresh Short	Fresh Short	Fresh Short
Index Options	Short Covering	Long Covering	Fresh Long
Nifty Futures	Fresh Short	Fresh Short	Fresh Short
Nifty Options	Short Covering	Long Covering	Fresh Long
BankNifty Futures	Long Covering	Fresh Long	Long Covering
BankNifty Options	Fresh Long	Fresh Short	Long Covering
FinNifty Futures	Long Covering	Long Covering	Long Covering
FinNifty Options	Fresh Long	Fresh Short	Fresh Long
MidcpNifty Futures	Long Covering	Fresh Long	Fresh Short
MidcpNifty Options	Short Covering	Fresh Long	Fresh Long
NiftyNxt50 Futures	Long Covering	Fresh Long	Fresh Short
NiftyNxt50 Options	Fresh Long	Fresh Short	Fresh Long
Stock Futures	Long Covering	Fresh Short	Long Covering
Stock Options	Fresh Long	Fresh Short	Fresh Long

Fresh Long: Net Buy with Increase in Open Interest
Fresh Short: Net Sell with Increase in Open Interest
Short Covering: Net Buy with Decrease in Open Interest
Long Covering: Net Sell with Decrease in Open Interest

NSE & BSE Option market Trends : Options Insights

SENSEX Weekly Expiry (6/11/2025)

The SENSEX index closed at 83459.15. The SENSEX weekly expiry for NOVEMBER 6, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.533 against previous 0.711. The 86000CE option holds the maximum open interest, followed by the 85000CE and 84000CE options. Market participants have shown increased interest with significant open interest additions in the 86000CE option, with open interest additions also seen in the 84000CE and 85000CE options. On the other hand, open interest reductions were prominent in the 79000PE, 83800PE, and 83700PE options. Trading volume was highest in the 84000CE option, followed by the 83800PE and 83500PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	06-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
83459.15	0.533	0.711	0.913
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	3,06,14,540	1,68,44,780	1,37,69,760
PUT:	1,63,30,340	1,19,69,140	43,61,200
Top CALL Open Interest:
Strike	OI	OI Change	Volume
86000	22,15,520	13,81,240	1,02,06,540
85000	20,64,660	9,87,740	1,55,22,360
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
86000	22,15,520	13,81,240	1,02,06,540
84000	18,94,340	12,18,400	3,04,26,440
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
87100	88,760	-1,75,740	13,01,180
90000	2,91,040	-1,54,840	22,70,460
Top CALL Volume:
Strike	OI	OI Change	Volume
84000	18,94,340	12,18,400	3,04,26,440
83800	8,17,500	6,81,040	1,97,72,640
Top PUT Open Interest:
Strike	OI	OI Change	Volume
82000	12,84,740	6,81,680	72,34,520
81000	11,12,460	4,37,760	47,43,660
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
82000	12,84,740	6,81,680	72,34,520
83100	6,66,220	5,52,100	95,77,100
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
79000	2,50,560	-3,32,240	22,89,060
83800	1,66,180	-2,63,400	2,56,13,420
Top PUT Volume:
Strike	OI	OI Change	Volume
83800	1,66,180	-2,63,400	2,56,13,420
83500	8,33,920	2,88,940	2,36,17,940

NIFTY Weekly Expiry (4/11/2025)

The NIFTY index closed at 25597.65. The NIFTY weekly expiry for NOVEMBER 11, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.733 against previous 0.726. The 26000CE option holds the maximum open interest, followed by the 27000CE and 25000PE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 25200PE and 25700CE options. On the other hand, open interest reductions were prominent in the 25850PE, 26200PE, and 25950PE options. Trading volume was highest in the 25700PE option, followed by the 25700CE and 26000CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	11-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,597.65	0.733	0.726	0.803
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	9,68,66,925	4,53,48,300	5,15,18,625
PUT:	7,09,72,500	3,29,04,375	3,80,68,125
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	77,47,500	42,33,150	4,31,298
27,000	73,01,025	31,23,600	2,36,615
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	77,47,500	42,33,150	4,31,298
25,700	45,29,475	36,42,600	4,39,637
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,650	44,325	-3,525	1,112
26,950	3,15,750	-2,775	15,129
Top CALL Volume:
Strike	OI	OI Change	Volume
25,700	45,29,475	36,42,600	4,39,637
26,000	77,47,500	42,33,150	4,31,298
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	60,53,325	32,74,950	2,19,355
25,200	51,99,300	39,94,725	2,12,268
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,200	51,99,300	39,94,725	2,12,268
25,000	60,53,325	32,74,950	2,19,355
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,850	6,05,925	-78,750	38,550
26,200	3,42,975	-40,425	6,631
Top PUT Volume:
Strike	OI	OI Change	Volume
25,700	29,38,350	12,53,625	4,73,917
25,600	33,20,025	22,01,325	3,79,285

NIFTY Monthly Expiry (25/11/2025)

The NIFTY index closed at 25597.65. The NIFTY monthly expiry for NOVEMBER 25, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.108 against previous 1.109. The 26000CE option holds the maximum open interest, followed by the 25000PE and 26000PE options. Market participants have shown increased interest with significant open interest additions in the 25300PE option, with open interest additions also seen in the 26000CE and 25800CE options. On the other hand, open interest reductions were prominent in the 26200PE, 26400CE, and 26500CE options. Trading volume was highest in the 26000CE option, followed by the 25500PE and 26500CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	25-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,597.65	1.108	1.109	0.867
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,15,57,050	3,94,29,450	21,27,600
PUT:	4,60,50,075	4,37,41,050	23,09,025
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	62,00,400	6,56,100	85,520
27,000	38,21,250	7,125	49,250
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	62,00,400	6,56,100	85,520
25,800	21,38,925	5,01,900	47,206
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,400	11,36,025	-4,28,025	29,081
26,500	34,79,325	-3,14,850	61,860
Top CALL Volume:
Strike	OI	OI Change	Volume
26,000	62,00,400	6,56,100	85,520
26,500	34,79,325	-3,14,850	61,860
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,000	46,74,975	4,06,125	53,042
26,000	46,10,850	-1,72,725	41,417
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,300	23,95,725	10,82,775	36,906
25,000	46,74,975	4,06,125	53,042
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,200	15,48,225	-4,54,500	13,883
25,500	37,29,300	-1,97,925	82,344
Top PUT Volume:
Strike	OI	OI Change	Volume
25,500	37,29,300	-1,97,925	82,344
25,000	46,74,975	4,06,125	53,042

BANKNIFTY Monthly Expiry (25/11/2025)

The BANKNIFTY index closed at 57827.05. The BANKNIFTY monthly expiry for NOVEMBER 25, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.830 against previous 0.928. The 58000PE option holds the maximum open interest, followed by the 58000CE and 57000PE options. Market participants have shown increased interest with significant open interest additions in the 58000CE option, with open interest additions also seen in the 59500CE and 60000CE options. On the other hand, open interest reductions were prominent in the 58000PE, 61000CE, and 57000CE options. Trading volume was highest in the 58000PE option, followed by the 58000CE and 57900PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	25-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
57,827.05	0.830	0.928	0.965
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,35,97,395	1,25,31,015	10,66,380
PUT:	1,12,84,385	1,16,32,495	-3,48,110
Top CALL Open Interest:
Strike	OI	OI Change	Volume
58,000	12,82,295	2,05,940	1,11,425
60,000	11,05,125	1,23,130	49,907
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
58,000	12,82,295	2,05,940	1,11,425
59,500	5,63,920	1,35,380	33,064
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
61,000	5,94,825	-1,09,655	35,067
57,000	9,78,320	-64,575	6,447
Top CALL Volume:
Strike	OI	OI Change	Volume
58,000	12,82,295	2,05,940	1,11,425
58,500	9,79,545	76,790	61,830
Top PUT Open Interest:
Strike	OI	OI Change	Volume
58,000	17,16,260	-1,33,035	1,59,202
57,000	12,60,140	-25,025	51,707
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
50,000	2,02,895	52,535	4,568
53,500	2,73,770	29,680	8,981
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
58,000	17,16,260	-1,33,035	1,59,202
58,100	1,23,585	-63,840	51,353
Top PUT Volume:
Strike	OI	OI Change	Volume
58,000	17,16,260	-1,33,035	1,59,202
57,900	1,64,080	7,875	83,701

FINNIFTY Monthly Expiry (25/11/2025)

The FINNIFTY index closed at 27195.8. The FINNIFTY monthly expiry for NOVEMBER 25, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.919 against previous 0.888. The 29000CE option holds the maximum open interest, followed by the 27500CE and 25500PE options. Market participants have shown increased interest with significant open interest additions in the 25500PE option, with open interest additions also seen in the 29000CE and 27700CE options. On the other hand, open interest reductions were prominent in the 26000PE, 27600CE, and 27600PE options. Trading volume was highest in the 27500CE option, followed by the 27300PE and 27300CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	25-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
27,195.80	0.919	0.888	0.893
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	5,61,860	4,91,335	70,525
PUT:	5,16,490	4,36,410	80,080
Top CALL Open Interest:
Strike	OI	OI Change	Volume
29,000	1,06,275	17,485	511
27,500	67,795	1,495	1,816
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
29,000	1,06,275	17,485	511
27,700	27,495	10,985	1,439
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,600	26,195	-1,755	1,090
27,800	15,275	-1,170	387
Top CALL Volume:
Strike	OI	OI Change	Volume
27,500	67,795	1,495	1,816
27,300	22,815	8,320	1,473
Top PUT Open Interest:
Strike	OI	OI Change	Volume
25,500	64,025	21,775	582
26,500	57,005	10,140	491
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,500	64,025	21,775	582
26,500	57,005	10,140	491
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,000	54,080	-3,185	393
27,600	9,945	-1,625	164
Top PUT Volume:
Strike	OI	OI Change	Volume
27,300	18,460	8,190	1,683
27,200	15,015	2,275	1,419

MIDCPNIFTY Monthly Expiry (25/11/2025)

The MIDCPNIFTY index closed at 13506. The MIDCPNIFTY monthly expiry for NOVEMBER 25, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.962 against previous 1.017. The 14000CE option holds the maximum open interest, followed by the 13000PE and 13500PE options. Market participants have shown increased interest with significant open interest additions in the 12500PE option, with open interest additions also seen in the 13500CE and 13700CE options. On the other hand, open interest reductions were prominent in the 72000CE, 70500PE, and 70000PE options. Trading volume was highest in the 13500PE option, followed by the 13600CE and 13600PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	25-11-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,506.00	0.962	1.017	1.055
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	61,41,100	60,95,740	45,360
PUT:	59,05,900	62,01,860	-2,95,960
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	9,62,220	-1,12,140	8,034
13,500	6,51,140	60,480	7,079
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
13,500	6,51,140	60,480	7,079
13,700	3,02,120	39,480	4,659
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,000	9,62,220	-1,12,140	8,034
14,500	5,82,680	-98,140	4,063
Top CALL Volume:
Strike	OI	OI Change	Volume
13,600	4,19,300	16,800	9,393
14,000	9,62,220	-1,12,140	8,034
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	7,73,500	140	6,921
13,500	6,70,320	-66,500	13,962
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
12,500	5,99,480	77,980	3,861
12,400	31,500	30,520	270
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,500	6,70,320	-66,500	13,962
12,000	1,99,780	-62,020	1,355
Top PUT Volume:
Strike	OI	OI Change	Volume
13,500	6,70,320	-66,500	13,962
13,600	1,98,520	-45,080	9,243

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

Trend bias remains with the bears: Today’s Open Interest Volume Analysis paints a clear short-dominant landscape, and combined OI inflows should warn against premature bottom-fishing.

Actionable feedback: Continue favoring sell-on-rise trades around option resistance (26000 for NIFTY); avoid aggressive longs unless there’s a marked reversal in OI or an uptick in PCR.

BankNIFTY, FINNIFTY, and MIDCPNIFTY confirm the downbeat sentiment: BankNIFTY sees long covering, while FINNIFTY and MIDCPNIFTY show a mix of short covering and fresh shorts—so any recovery is likely to be slow and tentative.

Risk management via option levels: Anchor intraday setups near max pain (25700–25900) and manage stop-losses closely as OI flow is still against the bulls.

Remain defensive: Until fresh long build-up emerges in combined data, Open Interest Volume Analysis continues to argue for caution and tactical trades, not aggressive directional bets.

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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