NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 14/01/2026

Hey traders, kicking off our Open Interest Volume Analysis for January 14, 2026, we’ve got mixed signals across indices where NIFTY’s combined futures show fresh shorts amid a 0.21% OI bump but sharp -18.03% volume drop—classic sign of bears piling in cautiously after spot’s 0.259% dip to 25665.6, hinting at downside pressure unless volume rebounds.

BANKNIFTY bucks the trend with bullish combined fresh longs (1.02% OI rise, -14.31% volume), spot flat at 59580.15, screaming potential upside if that premium buildup holds—perfect setup for directional plays.

FINNIFTY and MIDCPNIFTY lean covering (OI down -2.4% and -0.40%), high volume in FIN (35.8%) points to profit-taking, while SENSEX combined fresh shorts (8.03% OI) warn of broader caution—let’s unpack what this Open Interest Volume Analysis means for your Tuesday open.

NIFTY Combined (Jan+Feb+Mar): Fresh short build with tiny 0.21% OI gain but brutal -18.03% volume crash screams low conviction bears—spot down 0.259%, Jan rollover at 12% (up from 11%) shows weak hands exiting; reasoning: falling volume + fresh shorts = potential trap for shorts if spot holds 25600 support. Actionable: Avoid fresh shorts, eye 25700 PCR OI support for intraday calls, trail stops below 25500.

BANKNIFTY Combined: Bullish fresh longs shining at 1.02% OI increase despite -14.31% volume dip—spot steady (0.002%), rollover dip to 14% signals confident holders rolling up; reasoning: Premiums exploding (Jan +24pts) amid long build means bulls control, volume fade just digestion. Actionable: Go long futures above 59700, target 60200; options—buy 60000CE if PCR OI climbs past 0.90.

MIDCPNIFTY Combined: Short covering (-0.40% OI, -28.27% volume)—spot up 0.415%, steady 6% rollover; reasoning: Premium decay (Jan -6pts) + covering = bulls testing but fading fast, low volume confirms no follow-through. Actionable: Scalp longs to 13800 max pain, but square off quick—avoid holds with Feb fresh longs (5.89% OI) signaling rotation risk.

SENSEX Monthly: Fresh shorts ramping 8.03% OI with -5.24% volume—spot -0.293%, premium crush -36pts; reasoning: Mirrors NIFTY caution, low volume means big players positioning quietly for weekly expiry pain at 83600. Actionable: Short bias, target 83200 if 83400 breaks; pair with NIFTY for hedged downside.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 25665.6 (-0.259%)

Combined = January + February + March

Combined Fut Open Interest Change: 0.21%

Combined Fut Volume Change: -18.03%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 12% Previous 11%

NIFTY JANUARY Future closed at: 25719 (-0.278%)

January Fut Premium 53.4 (Decreased by -5.1 points)

January Fut Open Interest Change: -0.09%

January Fut Volume Change: -19.23%

January Fut Open Interest Analysis: Long Covering

NIFTY FEBRUARY Future closed at: 25867.9 (-0.229%)

February Fut Premium 202.3 (Increased by 7.3 points)

February Fut Open Interest Change: 2.10%

February Fut Volume Change: -10.31%

February Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (20/01/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.680 (Increased from 0.661)

Put-Call Ratio (Volume): 0.920

Max Pain Level: 25700

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 24500

Highest CALL Addition: 26000

Highest PUT Addition: 24500

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

Put-Call Ratio (Open Interest): 0.821 (Decreased from 0.875)

Put-Call Ratio (Volume): 0.837

Max Pain Level: 26000

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 26000

Highest CALL Addition: 26000

Highest PUT Addition: 25700

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 59580.15 (0.002%)

Combined = January + February + March

Combined Fut Open Interest Change: 1.02%

Combined Fut Volume Change: -14.31%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 14% Previous 15%

BANKNIFTY JANUARY Future closed at: 59780.6 (0.043%)

January Fut Premium 200.45 (Increased by 24.05 points)

January Fut Open Interest Change: 1.4%

January Fut Volume Change: -15.1%

January Fut Open Interest Analysis: Fresh Long

BANKNIFTY FEBRUARY Future closed at: 60108.2 (0.041%)

February Fut Premium 528.05 (Increased by 23.25 points)

February Fut Open Interest Change: -1.16%

February Fut Volume Change: 1.58%

February Fut Open Interest Analysis: Short Covering

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

Put-Call Ratio (Open Interest): 0.899 (Increased from 0.889)

Put-Call Ratio (Volume): 0.935

Max Pain Level: 59500

Maximum CALL Open Interest: 59500

Maximum PUT Open Interest: 59500

Highest CALL Addition: 60700

Highest PUT Addition: 59100

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13705.9 (0.415%)

Combined = January + February + March

Combined Fut Open Interest Change: -0.40%

Combined Fut Volume Change: -28.27%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 6% Previous 6%

MIDCPNIFTY JANUARY Future closed at: 13722.05 (0.369%)

January Fut Premium 16.15 (Decreased by -6.25 points)

January Fut Open Interest Change: -0.70%

January Fut Volume Change: -26.82%

January Fut Open Interest Analysis: Short Covering

MIDCPNIFTY FEBRUARY Future closed at: 13781.25 (0.350%)

February Fut Premium 75.35 (Decreased by -8.6 points)

February Fut Open Interest Change: 5.89%

February Fut Volume Change: -44.37%

February Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 0.842 (Increased from 0.739)

Put-Call Ratio (Volume): 0.788

Max Pain Level: 13800

Maximum CALL Open Interest: 14000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 14300

Highest PUT Addition: 13100

SENSEX Monthly Expiry (29/01/2026) Future

SENSEX Spot closed at: 83,382.71 (-0.293%)

SENSEX Monthly Future closed at: 83,683.50 (-0.335%)

Premium: 300.79 (Decreased by -35.97 points)

Open Interest Change: 8.03%

Volume Change: -5.24%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (8/01/2026) Option Analysis

Put-Call Ratio (OI): 0.731 (Decreased from 0.793)

Put-Call Ratio (Volume): 1.006

Max Pain Level: 83600

Maximum CALL OI: 86000

Maximum PUT OI: 81000

Highest CALL Addition: 86000

Highest PUT Addition: 83500

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 4,781.24 Cr.

DIIs Net BUY: ₹ 5,217.28 Cr.

FII Derivatives Activity

FII Trading Stats	14.01.26	13.01.26	12.01.26
FII Cash (Provisional Data)	-4,781.24	-1,499.81	-3,638.40
Index Future Open Interest Long Ratio	7.60%	7.54%	7.78%
Index Future Volume Long Ratio	47.93%	44.77%	45.78%
Call Option Open Interest Long Ratio	47.75%	48.16%	49.80%
Call Option Volume Long Ratio	49.83%	49.92%	50.05%
Put Option Open Interest Long Ratio	61.47%	64.85%	58.82%
Put Option Volume Long Ratio	49.91%	49.99%	49.92%
Stock Future Open Interest Long Ratio	61.46%	61.47%	61.82%
Stock Future Volume Long Ratio	50.43%	47.29%	55.13%
Index Futures	Fresh Short	Fresh Short	Fresh Short
Index Options	Fresh Short	Long Covering	Fresh Long
Nifty Futures	Fresh Short	Fresh Short	Fresh Short
Nifty Options	Fresh Short	Long Covering	Fresh Long
BankNifty Futures	Short Covering	Fresh Long	Fresh Long
BankNifty Options	Fresh Long	Fresh Long	Fresh Short
FinNifty Futures	Long Covering	Fresh Short	Fresh Short
FinNifty Options	Fresh Short	Short Covering	Short Covering
MidcpNifty Futures	Fresh Short	Fresh Short	Fresh Short
MidcpNifty Options	Fresh Long	Fresh Short	Long Covering
NiftyNxt50 Futures	Short Covering	Fresh Short	Fresh Short
NiftyNxt50 Options	Short Covering	Fresh Short	Fresh Long
Stock Futures	Fresh Long	Fresh Short	Fresh Long
Stock Options	Fresh Long	Fresh Long	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 (22/01/2026)

The SENSEX index closed at 83382.71. The SENSEX weekly expiry for JANUARY 22, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.731 against previous 0.793. The 86000CE option holds the maximum open interest, followed by the 87000CE and 83500CE options. Market participants have shown increased interest with significant open interest additions in the 86000CE option, with open interest additions also seen in the 83500CE and 87000CE options. On the other hand, open interest reductions were prominent in the 85200PE, 82300CE, and 77000CE options. Trading volume was highest in the 83500PE option, followed by the 83500CE and 82000PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	22-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
83382.71	0.731	0.793	1.006
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	46,45,160	15,63,420	30,81,740
PUT:	33,96,560	12,39,360	21,57,200
Top CALL Open Interest:
Strike	OI	OI Change	Volume
86000	4,65,080	3,59,040	17,48,300
87000	3,98,420	2,49,120	12,64,940
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
86000	4,65,080	3,59,040	17,48,300
83500	3,47,460	2,96,180	25,44,980
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
82300	520	-40	1,140
–	–	–	–
Top CALL Volume:
Strike	OI	OI Change	Volume
83500	3,47,460	2,96,180	25,44,980
84000	3,38,980	93,300	23,29,780
Top PUT Open Interest:
Strike	OI	OI Change	Volume
81000	2,77,840	1,83,880	12,08,720
80000	2,73,200	1,74,980	12,65,300
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
83500	2,67,380	1,91,580	31,78,280
81000	2,77,840	1,83,880	12,08,720
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
85200	1,120	-60	1,360
–	–	–	–
Top PUT Volume:
Strike	OI	OI Change	Volume
83500	2,67,380	1,91,580	31,78,280
82000	1,72,700	65,900	24,08,560

NIFTY Weekly Expiry (20/01/2026)

The NIFTY index closed at 25665.6. The NIFTY weekly expiry for JANUARY 20, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.680 against previous 0.661. The 26000CE option holds the maximum open interest, followed by the 27000CE and 24500PE options. Market participants have shown increased interest with significant open interest additions in the 26000CE option, with open interest additions also seen in the 24500PE and 25000PE options. On the other hand, open interest reductions were prominent in the 27700CE, 27300CE, and 25950PE options. Trading volume was highest in the 25700PE option, followed by the 25700CE and 25800CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	20-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,665.60	0.680	0.661	0.920
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	14,50,90,725	9,02,36,770	5,48,53,955
PUT:	9,85,96,160	5,96,61,680	3,89,34,480
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	1,27,65,350	56,37,255	25,01,347
27,000	95,23,670	26,09,685	5,25,936
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	1,27,65,350	56,37,255	25,01,347
26,400	60,76,720	36,04,510	7,34,769
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,700	8,28,620	-2,33,480	59,735
27,300	20,68,625	-68,510	1,25,023
Top CALL Volume:
Strike	OI	OI Change	Volume
25,700	62,36,880	29,07,515	39,62,091
25,800	86,57,090	29,76,025	36,90,808
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,500	89,45,170	48,87,870	4,73,004
25,000	77,05,100	37,34,770	6,98,763
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,500	89,45,170	48,87,870	4,73,004
25,000	77,05,100	37,34,770	6,98,763
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
25,950	2,09,040	-66,560	83,593
26,200	9,70,190	-64,480	15,356
Top PUT Volume:
Strike	OI	OI Change	Volume
25,700	43,79,115	10,42,145	50,26,342
25,600	45,69,305	17,10,865	32,17,130

NIFTY Monthly Expiry (27/01/2026)

The NIFTY index closed at 25665.6. The NIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.821 against previous 0.875. 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 26000CE option, with open interest additions also seen in the 25800CE and 25700CE options. On the other hand, open interest reductions were prominent in the 27800CE, 26400PE, and 26200PE options. Trading volume was highest in the 26000CE option, followed by the 25700PE and 25500PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
25,665.60	0.821	0.875	0.837
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,20,40,355	5,51,89,030	68,51,325
PUT:	5,09,47,910	4,82,82,260	26,65,650
Top CALL Open Interest:
Strike	OI	OI Change	Volume
26,000	99,89,590	11,69,415	2,57,767
27,000	57,06,675	-15,925	59,874
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
26,000	99,89,590	11,69,415	2,57,767
25,800	25,02,630	7,20,265	1,66,511
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
27,800	4,50,385	-1,50,540	10,960
27,300	4,12,230	-37,440	7,849
Top CALL Volume:
Strike	OI	OI Change	Volume
26,000	99,89,590	11,69,415	2,57,767
25,800	25,02,630	7,20,265	1,66,511
Top PUT Open Interest:
Strike	OI	OI Change	Volume
26,000	54,26,850	-14,105	56,025
25,000	41,03,125	1,24,995	97,906
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
25,700	25,42,280	5,49,185	1,86,403
25,800	25,19,855	3,71,930	1,45,885
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
26,400	6,38,235	-82,615	2,871
26,200	21,39,475	-57,070	8,430
Top PUT Volume:
Strike	OI	OI Change	Volume
25,700	25,42,280	5,49,185	1,86,403
25,500	30,99,590	5,135	1,80,553

BANKNIFTY Monthly Expiry (27/01/2026)

The BANKNIFTY index closed at 59580.15. The BANKNIFTY monthly expiry for JANUARY 27, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.899 against previous 0.889. 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 60700CE option, with open interest additions also seen in the 59100PE and 60100CE options. On the other hand, open interest reductions were prominent in the 60000CE, 58000PE, and 59500CE options. Trading volume was highest in the 59500PE 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
59,580.15	0.899	0.889	0.935
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,39,49,280	1,36,61,190	2,88,090
PUT:	1,25,47,350	1,21,44,660	4,02,690
Top CALL Open Interest:
Strike	OI	OI Change	Volume
59,500	15,83,310	-33,870	1,63,012
60,000	14,84,010	-1,06,710	1,49,834
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
60,700	3,03,120	1,60,140	28,292
60,100	3,38,340	1,21,680	40,485
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
60,000	14,84,010	-1,06,710	1,49,834
59,500	15,83,310	-33,870	1,63,012
Top CALL Volume:
Strike	OI	OI Change	Volume
59,500	15,83,310	-33,870	1,63,012
60,000	14,84,010	-1,06,710	1,49,834
Top PUT Open Interest:
Strike	OI	OI Change	Volume
59,500	19,16,820	32,580	2,16,982
59,000	9,84,210	-23,670	1,04,315
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
59,100	2,92,200	1,27,740	32,754
59,800	2,70,780	87,270	67,159
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
58,000	7,11,450	-56,820	38,502
57,500	4,68,510	-28,590	28,789
Top PUT Volume:
Strike	OI	OI Change	Volume
59,500	19,16,820	32,580	2,16,982
59,600	2,24,250	10,320	1,39,045

MIDCPNIFTY Monthly Expiry (27/01/2026)

The MIDCPNIFTY index closed at 13705.9. The MIDCPNIFTY monthly expiry for JANUARY 27, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.842 against previous 0.739. 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 14300CE option, with open interest additions also seen in the 13100PE and 13700PE options. On the other hand, open interest reductions were prominent in the 68500CE, 69000PE, and 69500CE options. Trading volume was highest in the 14000CE option, followed by the 13700PE and 13700CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	27-01-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
13,705.90	0.842	0.739	0.788
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	99,81,600	1,01,86,080	-2,04,480
PUT:	84,08,520	75,31,320	8,77,200
Top CALL Open Interest:
Strike	OI	OI Change	Volume
14,000	13,91,520	-27,600	41,961
14,500	10,87,440	-1,50,120	8,650
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
14,300	5,51,520	2,22,600	9,703
13,700	6,11,640	80,160	22,794
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,500	10,87,440	-1,50,120	8,650
13,800	4,59,120	-1,24,920	17,214
Top CALL Volume:
Strike	OI	OI Change	Volume
14,000	13,91,520	-27,600	41,961
13,700	6,11,640	80,160	22,794
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	9,62,880	90,840	16,555
13,500	6,22,080	13,800	13,169
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,100	5,46,480	2,14,440	7,537
13,700	5,69,760	1,53,480	24,010
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,200	4,58,520	-11,040	11,811
13,850	46,560	-5,760	121
Top PUT Volume:
Strike	OI	OI Change	Volume
13,700	5,69,760	1,53,480	24,010
13,000	9,62,880	90,840	16,555

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

Wrapping this Open Interest Volume Analysis, NIFTY and SENSEX combined fresh shorts with volume crashes yell caution—stay nimble, favor BANKNIFTY longs where OI strength shines amid flat spot, but FIN/MIDCP covering warns of whipsaws; overall market’s rotating to banks, so actionable edge: Load BANKNIFTY calls above 59700, hedge NIFTY with 25700P, and trail everything tight for weekly expiry fireworks on Jan 20.

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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