NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 12/01/2026

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Open Interest Volume Analysis

Flipping the script in today’s Open Interest Volume Analysis for Jan 12, 2026—combined futures shifted bullish with NIFTY OI +0.16%/vol +32%, BANKNIFTY +6.54%/+6%, SENSEX +3.11%/+12%, mostly “Fresh Long” or “Short Covering” as spots bounced 0.15-0.42%, shrugging off Friday’s bear vibes.

This Open Interest Volume Analysis highlights volume surges (NIFTY +32%!) fueling fresh longs amid PCR OI jumps (NIFTY weekly to 0.872, SENSEX 0.918), but mixed premium decays warn of traps—expiry eve setup screaming measured upside if pains hold.

NIFTY Combined Reversal: Tiny OI +0.16% but vol exploding +32.38% tags “Fresh Long”—reasoning: Jan short covering (-0.36% OI) + Feb longs built momentum for 25790 spot pop; weekly PCR OI up to 0.872, pain 25800—action: buy 25700 puts for hedge, target 26000 calls if vol sustains.

BANKNIFTY Combined Bull Fuel: OI +6.54%/vol +6% pure “Fresh Long” across months, spot 59450 up 0.34% despite premium trim; Feb OI +18.65% dominates—clear: institutional buying, monthly PCR 0.907 at 59500 pain—scalp longs to 60000, stop under 59500 max OI.

MIDCPNIFTY Combined Hybrid: OI -0.89%/vol -11.65% as “Short Covering” (Jan -1.87%), but Feb +15.75% longs + premium swell (+29 pts) lifts spot 0.15%; PCR OI dip to 0.835—reasoning: uneven unwind, action: cautious 13800 longs, trail to 14000 with 13000 put wall watch.

SENSEX Combined Confirmation: OI +3.11%/vol +11.84% “Fresh Long”, premium -38 pts but spot +0.36% to 83878; weekly PCR 0.918 pins 84000—backs broad recovery, fade dips to 83000 adds.

Options Flow Insights: PCR OI rises (NIFTY monthly 0.929, BANK 0.907, SENSEX 0.918) signal put builds vs calls, highest adds at 25600-26300 (NIFTY), 57000-65000 (BANK)—reasoning: defensive longs pinning pains, actionable: iron condors around 25800-26000 for weekly theta grind.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 25790.25 (0.416%)

Combined = January + February + March

Combined Fut Open Interest Change: 0.16%

Combined Fut Volume Change: 32.38%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 11% Previous 11%

NIFTY JANUARY Future closed at: 25876 (0.340%)

January Fut Premium 85.75 (Decreased by -19.25 points)

January Fut Open Interest Change: -0.36%

January Fut Volume Change: 35.82%

January Fut Open Interest Analysis: Short Covering

NIFTY FEBRUARY Future closed at: 26017.5 (0.324%)

February Fut Premium 227.25 (Decreased by -23.05 points)

February Fut Open Interest Change: 2.93%

February Fut Volume Change: 5.10%

February Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (13/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.872 (Increased from 0.491)

Put-Call Ratio (Volume): 0.896

Max Pain Level: 25800

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25500

Highest CALL Addition: 26300

Highest PUT Addition: 25700

NIFTY Monthly Expiry (27/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.929 (Increased from 0.880)

Put-Call Ratio (Volume): 0.882

Max Pain Level: 26000

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 26000

Highest CALL Addition: 25600

Highest PUT Addition: 25400

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 59450.5 (0.336%)

Combined = January + February + March

Combined Fut Open Interest Change: 6.54%

Combined Fut Volume Change: 6.02%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 13% Previous 12%

BANKNIFTY JANUARY Future closed at: 59730.4 (0.317%)

January Fut Premium 279.9 (Decreased by -9.95 points)

January Fut Open Interest Change: 5.0%

January Fut Volume Change: 8.3%

January Fut Open Interest Analysis: Fresh Long

BANKNIFTY FEBRUARY Future closed at: 60070.6 (0.316%)

February Fut Premium 620.1 (Decreased by -9.55 points)

February Fut Open Interest Change: 18.65%

February Fut Volume Change: -2.43%

February Fut Open Interest Analysis: Fresh Long

BANKNIFTY Monthly Expiry  (27/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.907 (Increased from 0.856)

Put-Call Ratio (Volume): 0.985

Max Pain Level: 59500

Maximum CALL Open Interest: 59500

Maximum PUT Open Interest: 59500

Highest CALL Addition: 65000

Highest PUT Addition: 57000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13696.95 (0.148%)

Combined = January + February + March

Combined Fut Open Interest Change: -0.89%

Combined Fut Volume Change: -11.65%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 5% Previous 5%

MIDCPNIFTY JANUARY Future closed at: 13738.65 (0.317%)

January Fut Premium 41.7 (Increased by 23.2 points)

January Fut Open Interest Change: -1.87%

January Fut Volume Change: -14.24%

January Fut Open Interest Analysis: Short Covering

MIDCPNIFTY FEBRUARY Future closed at: 13805.7 (0.359%)

February Fut Premium 108.75 (Increased by 29.2 points)

February Fut Open Interest Change: 15.75%

February Fut Volume Change: 22.39%

February Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY Monthly Expiry (27/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.835 (Decreased from 0.909)

Put-Call Ratio (Volume): 0.794

Max Pain Level: 13800

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 14500

Highest PUT Addition: 13000

SENSEX Monthly Expiry (29/01/2026) Future

SENSEX Spot closed at: 83,878.17 (0.361%)

SENSEX Monthly Future closed at: 84,310.40 (0.314%)

Premium: 432.23 (Decreased by -37.98 points)

Open Interest Change: 3.11%

Volume Change: 11.84%

Open Interest Analysis: Fresh Long

SENSEX Weekly Expiry (15/01/2026) Option Analysis

Put-Call Ratio (OI): 0.918 (Increased from 0.521)

Put-Call Ratio (Volume): 0.989

Max Pain Level: 84000

Maximum CALL OI: 85000

Maximum PUT OI: 83000

Highest CALL Addition: 88000

Highest PUT Addition: 83000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 3,638.40 Cr.

DIIs Net BUY: ₹ 5,839.32 Cr.

FII Derivatives Activity

FII Trading Stats12.01.269.01.268.01.26
FII Cash (Provisional Data)-3,638.40-3,769.31-3,367.12
    
Index Future Open Interest Long Ratio7.78%7.53%8.70%
Index Future Volume Long Ratio45.78%32.80%26.45%
Call Option Open Interest Long Ratio49.80%49.08%46.77%
Call Option Volume Long Ratio50.05%50.24%49.34%
Put Option Open Interest Long Ratio58.82%61.12%60.99%
Put Option Volume Long Ratio49.92%50.13%50.21%
Stock Future Open Interest Long Ratio61.82%61.76%61.71%
Stock Future Volume Long Ratio55.13%50.78%46.15%
    
Index FuturesFresh ShortFresh ShortFresh Short
Index OptionsFresh LongFresh LongFresh Short
    
Nifty FuturesFresh ShortFresh ShortFresh Short
Nifty OptionsFresh LongFresh LongFresh Short
    
BankNifty FuturesFresh LongFresh ShortLong Covering
BankNifty OptionsFresh ShortLong CoveringFresh Long
    
FinNifty FuturesFresh ShortShort CoveringLong Covering
FinNifty OptionsShort CoveringFresh ShortShort Covering
    
MidcpNifty FuturesFresh ShortFresh ShortFresh Long
MidcpNifty OptionsLong CoveringFresh LongFresh Long
    
NiftyNxt50 FuturesFresh ShortFresh ShortLong Covering
NiftyNxt50 OptionsFresh LongFresh ShortLong Covering
    
Stock FuturesFresh LongShort CoveringLong Covering
Stock OptionsFresh LongFresh LongFresh 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

SENSEX Weekly Expiry (15/01/2026)

The SENSEX index closed at 83878.17. The SENSEX weekly expiry for JANUARY 15, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.918 against previous 0.521. The 85000CE option holds the maximum open interest, followed by the 87000CE and 84500CE options. Market participants have shown increased interest with significant open interest additions in the 83000PE option, with open interest additions also seen in the 82900PE and 83500PE options. On the other hand, open interest reductions were prominent in the 85500CE, 83700CE, and 87500CE options. Trading volume was highest in the 83000PE option, followed by the 84000CE and 83200PE options, indicating active trading in these strikes.
 

SENSEXWeeklyExpiry:15-01-2026
Index SpotPCR OIPrev PCR OIPCR VOL
83878.170.9180.5210.989
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  1,42,07,240    1,42,53,900                -46,660
PUT:  1,30,40,900        74,30,700           56,10,200
Top CALL Open Interest:
StrikeOIOI ChangeVolume
85000        9,17,160            -71,320        1,90,41,220
87000        8,22,980              14,260           88,03,400
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
88000        6,86,120          1,59,880           47,46,340
84000        6,40,000          1,28,660        2,78,25,940
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
85500        6,71,640        -1,56,800           95,47,480
83700        1,64,080            -92,540        1,64,33,740
Top CALL Volume:
StrikeOIOI ChangeVolume
84000        6,40,000          1,28,660        2,78,25,940
83500        2,54,640                1,300        2,02,38,520
Top PUT Open Interest:
StrikeOIOI ChangeVolume
83000        7,42,040          4,39,040        3,48,64,300
83500        7,13,620          2,56,540        2,14,74,460
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
83000        7,42,040          4,39,040        3,48,64,300
82900        3,46,200          2,60,040        1,55,89,180
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
84300            83,660            -44,100              5,05,040
84400            73,340            -32,500              2,52,000
Top PUT Volume:
StrikeOIOI ChangeVolume
83000        7,42,040          4,39,040        3,48,64,300
83200        3,64,060          2,42,340        2,47,62,960

NIFTY Weekly Expiry (13/01/2026)

The NIFTY index closed at 25790.25. The NIFTY weekly expiry for JANUARY 13, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.872 against previous 0.491. The 26000CE option holds the maximum open interest, followed by the 25500PE and 26300CE options. Market participants have shown increased interest with significant open interest additions in the 25700PE option, with open interest additions also seen in the 25600PE and 25550PE options. On the other hand, open interest reductions were prominent in the 27000CE, 26000CE, and 26600CE options. Trading volume was highest in the 25500PE option, followed by the 25600PE and 25800CE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:13-01-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         25,790.25                0.872                  0.491               0.896
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 20,39,77,020   25,54,51,782 -5,14,74,762
 PUT: 17,78,21,020   12,54,31,670   5,23,89,350
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               26,000    1,60,77,945        -44,92,507       71,50,937
               26,300    1,39,08,115         22,50,722       31,12,763
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               26,300    1,39,08,115         22,50,722       31,12,763
               25,850       63,40,490         10,87,125       68,50,053
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               27,000       72,49,840        -70,92,442       13,28,065
               26,000    1,60,77,945        -44,92,507       71,50,937
 Top CALL Volume:
 Strike OI OI Change Volume
               25,800       99,05,025            3,51,130   1,20,12,605
               25,700       41,16,775        -20,12,497   1,12,73,821
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               25,500    1,44,63,475         36,81,080   1,28,56,146
               25,700    1,24,25,790         51,51,185       89,32,992
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               25,700    1,24,25,790         51,51,185       89,32,992
               25,600    1,21,40,505         47,00,377   1,26,69,896
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               25,200       53,30,520        -16,14,665       25,89,957
               26,000       23,88,165        -11,39,255         3,17,979
 Top PUT Volume: 
 Strike OI OI Change Volume
               25,500    1,44,63,475         36,81,080   1,28,56,146
               25,600    1,21,40,505         47,00,377   1,26,69,896

NIFTY Monthly Expiry (27/01/2026)

The NIFTY index closed at 25790.25. The NIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.929 against previous 0.880. The 26000CE option holds the maximum open interest, followed by the 27000CE and 26000PE options. Market participants have shown increased interest with significant open interest additions in the 25400PE option, with open interest additions also seen in the 25100PE and 25200PE options. On the other hand, open interest reductions were prominent in the 25600PE, 26200CE, and 26100CE options. Trading volume was highest in the 26000CE option, followed by the 25500PE and 25000PE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:27-01-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         25,790.25                0.929                  0.880               0.882
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    5,06,68,020      5,11,95,397       -5,27,377
 PUT:    4,70,79,305      4,50,73,732       20,05,573
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               26,000       79,40,790              -88,660         3,00,070
               27,000       55,43,720            1,83,885             79,885
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               25,600          5,21,950            2,51,355             76,085
               25,800       14,96,885            2,34,065         1,28,831
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               26,200       35,18,840          -5,21,820         1,19,706
               26,100       23,05,355          -5,15,872         1,23,414
 Top CALL Volume:
 Strike OI OI Change Volume
               26,000       79,40,790              -88,660         3,00,070
               26,500       46,03,235              -68,640         1,57,586
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               26,000       53,68,740          -3,20,157             76,653
               25,000       37,38,865          -1,27,985         1,89,815
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               25,400       30,64,360         14,26,457         1,20,109
               25,100          8,46,950            3,16,875             52,257
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               25,600       19,52,925          -6,29,070         1,41,840
               25,500       31,50,160          -4,05,762         2,38,078
 Top PUT Volume: 
 Strike OI OI Change Volume
               25,500       31,50,160          -4,05,762         2,38,078
               25,000       37,38,865          -1,27,985         1,89,815

BANKNIFTY Monthly Expiry (27/01/2026)

The BANKNIFTY index closed at 59450.5. The BANKNIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.907 against previous 0.856. The 59500PE option holds the maximum open interest, followed by the 59500CE and 60000CE options. Market participants have shown increased interest with significant open interest additions in the 57000PE option, with open interest additions also seen in the 59000PE and 59300PE options. On the other hand, open interest reductions were prominent in the 63000CE, 60000CE, and 63500CE options. Trading volume was highest in the 59000PE option, followed by the 59500CE and 60000CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:27-01-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         59,450.50                0.907                  0.856               0.985
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,33,94,700      1,36,24,125       -2,29,425
 PUT:    1,21,53,360      1,16,56,920         4,96,440
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               59,500       16,39,140               41,385         1,75,275
               60,000       15,51,780              -93,690         1,67,811
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               65,000          4,31,040               80,520             12,728
               62,500          4,26,690               44,970             27,517
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               63,000          7,33,830          -1,02,600             28,630
               60,000       15,51,780              -93,690         1,67,811
 Top CALL Volume:
 Strike OI OI Change Volume
               59,500       16,39,140               41,385         1,75,275
               60,000       15,51,780              -93,690         1,67,811
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               59,500       18,65,340               10,635         1,40,947
               59,000       10,12,170               86,805         2,26,172
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               57,000          5,76,540               91,245             49,965
               59,000       10,12,170               86,805         2,26,172
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               60,000          8,11,350              -62,985             47,936
               58,000          7,63,710              -30,270             83,435
 Top PUT Volume: 
 Strike OI OI Change Volume
               59,000       10,12,170               86,805         2,26,172
               59,500       18,65,340               10,635         1,40,947

MIDCPNIFTY Monthly Expiry (27/01/2026)

The MIDCPNIFTY index closed at 13696.95. The MIDCPNIFTY monthly expiry for JANUARY 27, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.835 against previous 0.909. The 14000CE option holds the maximum open interest, followed by the 14500CE and 13000PE options. Market participants have shown increased interest with significant open interest additions in the 14500CE option, with open interest additions also seen in the 13700CE and 13900CE options. On the other hand, open interest reductions were prominent in the 69500PE, 74200PE, and 74200CE options. Trading volume was highest in the 14000CE option, followed by the 13700CE and 13600PE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:27-01-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         13,696.95                0.835                  0.909               0.794
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       89,51,520         83,59,560         5,91,960
 PUT:       74,70,720         76,01,580       -1,30,860
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               14,000       12,40,080               88,920             47,375
               14,500       10,50,960            1,75,560             12,239
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               14,500       10,50,960            1,75,560             12,239
               13,700          4,35,720            1,11,780             29,494
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               14,200          6,43,920              -96,720             17,984
               14,700          3,45,960              -59,640               5,778
 Top CALL Volume:
 Strike OI OI Change Volume
               14,000       12,40,080               88,920             47,375
               13,700          4,35,720            1,11,780             29,494
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,000          8,34,480               91,860             22,089
               13,500          6,58,440          -1,24,080             26,925
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               13,000          8,34,480               91,860             22,089
               13,650             99,840               69,720             11,868
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               13,900          2,27,160          -1,67,280               2,572
               13,500          6,58,440          -1,24,080             26,925
 Top PUT Volume: 
 Strike OI OI Change Volume
               13,600          5,56,800              -16,200             28,449
               13,500          6,58,440          -1,24,080             26,925

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

Summing this Open Interest Volume Analysis, combined data flips to “Fresh Long”/covering with volume backing (NIFTY/BANKNIFTY/SENSEX pops), PCR upticks, and spot greens—bullish pivot into tomorrow’s weekly expiry, but premium decays cap euphoria at pains like 25800/59500.

Actionable moves: Lean into NIFTY 26000 calls or BANK 60000 straddles, tight stops below supports—watch post-expiry unwind for continuation; bulls in control, but overbought OI risks pullback.

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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