NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 30/01/2026

Sharing is Supporting

Open Interest Volume Analysis

Let’s start with the most important derivative takeaway of the day — Open Interest Volume Analysis clearly signals a shift from consolidation to active positioning, especially in index futures.

NIFTY, SENSEX, and March contracts across indices are showing fresh short creation, while volumes are falling in near-month futures. This is a classic sign of cautious institutional selling rather than panic unwinding.

NIFTY spot slipping below 25350 with fresh short OI build-up and a sharp drop in Put-Call Ratio (weekly PCR fell from 0.97 to 0.76) indicates that option writers are repositioning for downside or range-bound pressure into the weekly expiry.

The fall in futures premium across NIFTY and MIDCPNIFTY, combined with rising OI and falling volumes, confirms that smart money is building positional shorts quietly, not chasing momentum.

BANKNIFTY is sending a mixed signal — long covering in February but fresh shorts in March, which tells us that banks are entering a time-based correction, not a breakdown.

Meanwhile, MIDCPNIFTY’s long covering + fresh short in March clearly shows risk appetite is shrinking in the broader market, even if the headline indices are holding.

In short, Open Interest Volume Analysis suggests institutions are preparing for a volatile February start, with downside being controlled but upside capped by aggressive call writing.

Actionable insight for traders:

Avoid aggressive longs at market open.

Prefer sell-on-rise strategies near resistance in NIFTY and BANKNIFTY until OI unwinding appears.

Intraday traders should trade with option writers, not against them, especially near Max Pain levels.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 25320.65 (-0.387%)

Combined = February + March + April

Combined Fut Open Interest Change: 2.37%

Combined Fut Volume Change: -23.01%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 7% Previous 7%

NIFTY FEBRUARY Future closed at: 25416.4 (-0.470%)

February Fut Premium 95.75 (Decreased by -21.65 points)

February Fut Open Interest Change: 2.26%

February Fut Volume Change: -22.94%

February Fut Open Interest Analysis: Fresh Short

NIFTY March Future closed at: 25582.8 (-0.484%)

March Fut Premium 262.15 (Decreased by -26.05 points)

March Fut Open Interest Change: 2.55%

March Fut Volume Change: -25.22%

March Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (3/02/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.762 (Decreased from 0.972)

Put-Call Ratio (Volume): 0.954

Max Pain Level: 25300

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 26500

Highest PUT Addition: 24000

NIFTY Monthly Expiry (24/02/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.117 (Decreased from 1.129)

Put-Call Ratio (Volume): 0.966

Max Pain Level: 25500

Maximum CALL Open Interest: 26000

Maximum PUT Open Interest: 25000

Highest CALL Addition: 25500

Highest PUT Addition: 25000

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 59610.45 (-0.579%)

Combined = February + March + April

Combined Fut Open Interest Change: -3.62%

Combined Fut Volume Change: -9.92%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 8% Previous 8%

BANKNIFTY FEBRUARY Future closed at: 59908.6 (-0.500%)

February Fut Premium 298.15 (Increased by 46.6 points)

February Fut Open Interest Change: -4.4%

February Fut Volume Change: -9.3%

February Fut Open Interest Analysis: Long Covering

BANKNIFTY MARCH Future closed at: 60295.8 (-0.455%)

March Fut Premium 685.35 (Increased by 72 points)

March Fut Open Interest Change: 7.62%

March Fut Volume Change: -17.58%

March Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (24/02/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.053 (Decreased from 1.197)

Put-Call Ratio (Volume): 0.964

Max Pain Level: 60000

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 60000

Highest CALL Addition: 64000

Highest PUT Addition: 58600

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 13400.05 (-0.181%)

Combined = February + March + April

Combined Fut Open Interest Change: -3.82%

Combined Fut Volume Change: 68.07%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 3% Previous 3%

MIDCPNIFTY FEBRUARY Future closed at: 13400.95 (-0.413%)

February Fut Premium 0.9 (Decreased by -31.3 points)

February Fut Open Interest Change: -4.16%

February Fut Volume Change: 71.68%

February Fut Open Interest Analysis: Long Covering

MIDCPNIFTY MARCH Future closed at: 13469.15 (-0.377%)

March Fut Premium 69.1 (Decreased by -26.7 points)

March Fut Open Interest Change: 5.64%

March Fut Volume Change: 8.87%

March Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY Monthly Expiry (24/02/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.339 (Increased from 1.165)

Put-Call Ratio (Volume): 1.114

Max Pain Level: 13300

Maximum CALL Open Interest: 14500

Maximum PUT Open Interest: 13000

Highest CALL Addition: 14500

Highest PUT Addition: 13000

SENSEX Monthly Expiry (26/02/2026) Future

SENSEX Spot closed at: 82,269.78 (-0.359%)

SENSEX Monthly Future closed at: 82,904.25 (-0.416%)

Premium: 634.47 (Decreased by -49.91 points)

Open Interest Change: 12.42%

Volume Change: -7.96%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (5/02/2026) Option Analysis

Put-Call Ratio (OI): 0.840 (Decreased from 1.126)

Put-Call Ratio (Volume): 0.954

Max Pain Level: 82300

Maximum CALL OI: 85000

Maximum PUT OI: 78000

Highest CALL Addition: 85000

Highest PUT Addition: 78000

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 2,251.37 Cr.

DIIs Net BUY: ₹ 2,638.76 Cr.

FII Derivatives Activity

FII Trading Stats30.01.2629.01.2628.01.26
FII Cash (Provisional Data)2,251.37-393.97480.26
    
Index Future Open Interest Long Ratio12.10%12.29%12.62%
Index Future Volume Long Ratio41.58%38.52%51.19%
Call Option Open Interest Long Ratio45.42%43.49%43.24%
Call Option Volume Long Ratio50.16%50.00%49.73%
Put Option Open Interest Long Ratio65.35%64.87%67.34%
Put Option Volume Long Ratio50.39%49.76%50.19%
Stock Future Open Interest Long Ratio60.69%61.30%61.87%
Stock Future Volume Long Ratio45.67%45.15%49.18%
    
Index FuturesFresh ShortFresh ShortFresh Long
Index OptionsFresh LongFresh ShortFresh Short
    
Nifty FuturesFresh ShortFresh ShortFresh Long
Nifty OptionsFresh LongFresh ShortFresh Short
    
BankNifty FuturesFresh LongShort CoveringShort Covering
BankNifty OptionsFresh LongFresh ShortFresh Long
    
FinNifty FuturesShort CoveringLong CoveringLong Covering
FinNifty OptionsFresh ShortFresh LongFresh Short
    
MidcpNifty FuturesShort CoveringShort CoveringFresh Long
MidcpNifty OptionsFresh LongFresh LongFresh Long
    
NiftyNxt50 FuturesFresh ShortLong CoveringFresh Short
NiftyNxt50 OptionsFresh ShortFresh LongFresh Long
    
Stock FuturesLong CoveringLong CoveringFresh Short
Stock OptionsFresh ShortFresh ShortFresh Short

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 (5/02/2026)

The SENSEX index closed at 82269.78. The SENSEX weekly expiry for FEBRUARY 5, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.840 against previous 1.126. The 85000CE option holds the maximum open interest, followed by the 86000CE and 78000PE options. Market participants have shown increased interest with significant open interest additions in the 85000CE option, with open interest additions also seen in the 78000PE and 86000CE options. On the other hand, open interest reductions were prominent in the 82600PE, 82700PE, and 82500PE options. Trading volume was highest in the 82000PE option, followed by the 82500CE and 82100PE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:05-02-2026
Index SpotPCR OIPrev PCR OIPCR VOL
82269.780.8401.1260.954
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:      78,11,160        33,04,540           45,06,620
PUT:      65,61,920        37,20,120           28,41,800
Top CALL Open Interest:
StrikeOIOI ChangeVolume
85000        5,43,280          3,75,580           54,67,100
86000        5,39,640          3,12,520           36,85,360
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
85000        5,43,280          3,75,580           54,67,100
86000        5,39,640          3,12,520           36,85,360
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
82600            81,600              -4,340           42,10,660
92300                  900                  -100                    2,380
Top CALL Volume:
StrikeOIOI ChangeVolume
82500        4,26,820              79,460        1,18,92,480
82200        2,65,880          2,07,360        1,01,31,840
Top PUT Open Interest:
StrikeOIOI ChangeVolume
78000        5,34,860          3,14,300           31,74,780
79000        4,26,680          2,62,360           35,91,100
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
78000        5,34,860          3,14,300           31,74,780
79000        4,26,680          2,62,360           35,91,100
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
82600            62,840        -1,01,060           14,30,800
82700            55,540              -8,280              8,58,660
Top PUT Volume:
StrikeOIOI ChangeVolume
82000        3,96,460          1,73,140        1,70,60,080
82100        2,11,360          1,46,980        1,10,16,280

NIFTY Weekly Expiry (3/02/2026)

The NIFTY index closed at 25320.65. The NIFTY weekly expiry for FEBRUARY 3, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.762 against previous 0.972. The 26000CE option holds the maximum open interest, followed by the 26500CE and 27000CE options. Market participants have shown increased interest with significant open interest additions in the 26500CE option, with open interest additions also seen in the 27000CE and 24000PE options. On the other hand, open interest reductions were prominent in the 23750PE, 23850PE, and 25400PE options. Trading volume was highest in the 25300CE option, followed by the 25300PE and 25200PE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:03-02-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         25,320.65                0.762                  0.972               0.954
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 14,47,58,380   10,97,50,160   3,50,08,220
 PUT: 11,02,85,565   10,66,49,790       36,35,775
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               26,000    1,15,18,195         25,85,310       15,24,323
               26,500    1,03,92,525         35,20,335         7,00,777
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               26,500    1,03,92,525         35,20,335         7,00,777
               27,000       99,62,680         30,86,135         6,26,671
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,450       15,60,975          -2,50,055       12,36,237
               27,800          8,31,545          -2,35,950             46,380
 Top CALL Volume:
 Strike OI OI Change Volume
               25,300       51,60,480         19,91,925       48,77,066
               25,500       66,69,975         12,66,655       29,97,452
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       90,33,310         28,07,935         6,09,067
               23,300       82,86,655            7,03,755         4,28,477
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               24,000       90,33,310         28,07,935         6,09,067
               23,500       68,23,050         20,84,225         3,65,310
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,750          4,90,425        -11,44,390         1,53,376
               23,850          5,43,075        -10,96,745         1,48,892
 Top PUT Volume: 
 Strike OI OI Change Volume
               25,300       49,52,545            4,17,300       47,13,899
               25,200       40,33,315          -2,65,590       36,46,595

NIFTY Monthly Expiry (24/02/2026)

The NIFTY index closed at 25320.65. The NIFTY monthly expiry for FEBRUARY 24, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.117 against previous 1.129. The 25000PE option holds the maximum open interest, followed by the 26000CE and 25500CE options. Market participants have shown increased interest with significant open interest additions in the 25000PE option, with open interest additions also seen in the 25500CE and 26000CE options. On the other hand, open interest reductions were prominent in the 23500PE, 25700PE, and 25700CE options. Trading volume was highest in the 26000CE option, followed by the 25000PE and 25500CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:24-02-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         25,320.65                1.117                  1.129               0.966
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    3,91,25,385      3,59,95,700       31,29,685
 PUT:    4,36,98,915      4,06,38,195       30,60,720
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               26,000       48,08,830            5,41,710         1,12,933
               25,500       43,22,175            7,54,585             94,921
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               25,500       43,22,175            7,54,585             94,921
               26,000       48,08,830            5,41,710         1,12,933
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,700          7,95,925              -58,175             35,091
               27,000       32,10,285              -35,945             22,619
 Top CALL Volume:
 Strike OI OI Change Volume
               26,000       48,08,830            5,41,710         1,12,933
               25,500       43,22,175            7,54,585             94,921
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               25,000       54,38,030            9,58,100             99,098
               25,500       33,90,465            1,15,700             44,735
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               25,000       54,38,030            9,58,100             99,098
               25,400       22,36,455            4,96,860             60,931
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,500       20,07,720              -94,705             17,888
               25,700          6,05,475              -80,015               9,916
 Top PUT Volume: 
 Strike OI OI Change Volume
               25,000       54,38,030            9,58,100             99,098
               25,300       20,11,555            1,42,415             88,760

BANKNIFTY Monthly Expiry (24/02/2026)

The BANKNIFTY index closed at 59610.45. The BANKNIFTY monthly expiry for FEBRUARY 24, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.053 against previous 1.197. The 60000CE option holds the maximum open interest, followed by the 60000PE and 58000PE options. Market participants have shown increased interest with significant open interest additions in the 64000CE option, with open interest additions also seen in the 60500CE and 62500CE options. On the other hand, open interest reductions were prominent in the 59000PE, 59500PE, and 58000PE options. Trading volume was highest in the 60000CE option, followed by the 60000PE and 59500PE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:24-02-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         59,610.45                1.053                  1.197               0.964
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       85,34,340         78,38,850         6,95,490
 PUT:       89,89,410         93,86,700       -3,97,290
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               60,000       16,53,570               35,460         1,38,522
               62,000          5,44,590                  7,980             45,671
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               64,000          3,34,830               72,690             15,790
               60,500          3,39,900               66,780             64,402
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               61,900             60,120              -21,120             11,307
               61,300             34,800                -9,300               7,533
 Top CALL Volume:
 Strike OI OI Change Volume
               60,000       16,53,570               35,460         1,38,522
               60,500          3,39,900               66,780             64,402
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               60,000       15,75,840              -29,820             90,725
               58,000          6,89,400              -49,410             45,095
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               58,600             90,480               37,260               7,947
               51,000          1,06,020               36,900             15,528
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               59,000          5,91,630          -1,28,670             62,837
               59,500          4,90,410              -97,410             87,182
 Top PUT Volume: 
 Strike OI OI Change Volume
               60,000       15,75,840              -29,820             90,725
               59,500          4,90,410              -97,410             87,182

MIDCPNIFTY Monthly Expiry (24/02/2026)

The MIDCPNIFTY index closed at 13400.05. The MIDCPNIFTY monthly expiry for FEBRUARY 24, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.339 against previous 1.165. The 13000PE option holds the maximum open interest, followed by the 12500PE and 14500CE options. Market participants have shown increased interest with significant open interest additions in the 13000PE option, with open interest additions also seen in the 12300PE and 12000PE options. On the other hand, open interest reductions were prominent in the 67000PE, 66500PE, and 66800PE options. Trading volume was highest in the 13000PE option, followed by the 13400CE and 13400PE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:24-02-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         13,400.05                1.339                  1.165               1.114
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       51,27,360         44,57,280         6,70,080
 PUT:       68,66,280         51,94,920       16,71,360
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               14,500          8,21,280            2,25,480             10,944
               14,000          5,28,480               61,560             13,603
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               14,500          8,21,280            2,25,480             10,944
               15,000          2,19,240               79,560               1,919
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               13,300          2,51,040              -53,280               6,111
               13,250             21,120                -9,000                   317
 Top CALL Volume:
 Strike OI OI Change Volume
               13,400          2,54,520               35,400             17,553
               14,000          5,28,480               61,560             13,603
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,000       13,35,960            5,24,280             23,874
               12,500          8,67,840            1,41,720             10,328
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               13,000       13,35,960            5,24,280             23,874
               12,300          6,14,520            4,21,440               9,567
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               13,500          2,13,720              -37,440               4,845
               13,200          2,39,760              -13,200               4,906
 Top PUT Volume: 
 Strike OI OI Change Volume
               13,000       13,35,960            5,24,280             23,874
               13,400          2,45,040               22,200             15,845

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

If we connect all the dots, Open Interest Volume Analysis clearly confirms a defensive derivative structure going into the new trading week.

Fresh shorts in NIFTY, SENSEX, MIDCPNIFTY, and March BANKNIFTY are not random — they are calculated hedges against event and expiry risk, not outright bearish bets.

The weekly PCR collapse in NIFTY and SENSEX is a warning that put writers are stepping back, which usually leads to intraday volatility spikes even in a range-bound market.

Max Pain clustering near 25300 (NIFTY) and 60000 (BANKNIFTY) suggests markets may try to gravitate towards these levels, but only if short covering appears — which is missing right now.

The rising OI with falling volume in futures is a textbook sign of positional traders entering early, meaning the next directional move could be sharp once volume expands.

Broader market weakness (MIDCPNIFTY long covering) tells us any bounce in NIFTY will be fragile and stock-specific, not broad-based.

Overall, derivative data is not bearish yet, but it is clearly not bullish anymore — the market is transitioning into a sell-on-rise, wait-and-watch phase.

Trade management for next sessions:

NIFTY: Stay cautious below 25500, aggressive only above 25600 with OI unwinding

BANKNIFTY: Expect range 59000–60500 until March OI changes

Options traders: Prefer credit spreads, not naked buying

Positional traders: Wait for volume confirmation before committing capital

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

Disclaimer

fnodata.com is a financial blog providing research-based data and analysis. The content creator of the fnodata.com is not a SEBI registered Investment Advisor. The content on this blog is for informational purposes only and should not be considered as investment advice. You are responsible for your own investment decisions. You should consult with a financial advisor or conduct your own research before making any investment decisions.


Sharing is Supporting

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *