Turning Complex Derivative Data into Clear Market Insights
NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 13/03/2026
Table of Contents
The Open Interest Volume Analysis across index derivatives clearly signals that bears dominated Friday’s session, with heavy fresh short buildup across NIFTY, BANKNIFTY and MIDCPNIFTY futures while prices declined sharply. This combination of falling prices with rising open interest is a classic sign of aggressive short positioning by institutions.
From a broader Open Interest Volume Analysis perspective, the derivatives data shows traders positioning for continued downside pressure in the near term, as both futures and options segments indicate defensive positioning and call writers becoming increasingly active at higher strike levels.
Another important takeaway from the Open Interest Volume Analysis is the significant drop in futures premiums across indices, which reflects weakening bullish sentiment and reduced willingness of traders to carry long positions forward.
Option chain activity further confirms the bearish undertone, as Put-Call Ratios declined in most indices, indicating stronger call writing and relatively weaker put support. This suggests traders are expecting markets to remain under pressure unless key support zones attract aggressive put writing in the coming sessions.
NSE & BSE F&O Market Signals
NIFTY Future analysis
NIFTY Spot closed at: 23151.1 (-2.065%)
Combined = March + April + May
Combined Fut Open Interest Change: 9.86%
Combined Fut Volume Change: 35.25%
Combined Fut Open Interest Analysis: Fresh Short
Rollover: 16% Previous 16%
NIFTY March Future closed at: 23199.3 (-2.230%)
March Fut Premium 48.2 (Decreased by -41.15 points)
March Fut Open Interest Change: 9.21%
March Fut Volume Change: 32.27%
March Fut Open Interest Analysis: Fresh Short
NIFTY April Future closed at: 23352.7 (-2.218%)
April Fut Premium 201.6 (Decreased by -41.65 points)
April Fut Open Interest Change: 13.64%
April Fut Volume Change: 69.53%
April Fut Open Interest Analysis: Fresh Short
NIFTY Weekly Expiry (17/03/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.578 (Decreased from 0.697)
Put-Call Ratio (Volume): 1.066
Max Pain Level: 23500
Maximum CALL Open Interest: 25000
Maximum PUT Open Interest: 21500
Highest CALL Addition: 25000
Highest PUT Addition: 22000
NIFTY Monthly Expiry (30/03/2026) Option Analysis
Put-Call Ratio (Open Interest): 1.030 (Decreased from 1.078)
Put-Call Ratio (Volume): 1.007
Max Pain Level: 24500
Maximum CALL Open Interest: 26000
Maximum PUT Open Interest: 22000
Highest CALL Addition: 23500
Highest PUT Addition: 22000
BANKNIFTY Future Analysis
BANKNIFTY Spot closed at: 53757.85 (-2.438%)
Combined = March + April + May
Combined Fut Open Interest Change: 4.80%
Combined Fut Volume Change: 18.94%
Combined Fut Open Interest Analysis: Fresh Short
Rollover: 30% Previous 29%
BANKNIFTY MARCH Future closed at: 53922.8 (-2.613%)
March Fut Premium 164.95 (Decreased by -103.9 points)
March Fut Open Interest Change: 3.8%
March Fut Volume Change: 11.9%
March Fut Open Interest Analysis: Fresh Short
BANKNIFTY APRIL Future closed at: 54296.4 (-2.609%)
April Fut Premium 538.55 (Decreased by -111.7 points)
April Fut Open Interest Change: 7.82%
April Fut Volume Change: -7.52%
April Fut Open Interest Analysis: Fresh Short
BANKNIFTY Monthly Expiry (30/03/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.754 (Decreased from 0.786)
Put-Call Ratio (Volume): 0.899
Max Pain Level: 57100
Maximum CALL Open Interest: 61000
Maximum PUT Open Interest: 59000
Highest CALL Addition: 55000
Highest PUT Addition: 52500
MIDCPNIFTY Future Analysis
MIDCPNIFTY Spot closed at: 12618.5 (-2.644%)
Combined = March + April + May
Combined Fut Open Interest Change: 1.44%
Combined Fut Volume Change: 0.54%
Combined Fut Open Interest Analysis: Fresh Short
Rollover: 6% Previous 5%
MIDCPNIFTY MARCH Future closed at: 12606.85 (-2.746%)
March Fut Discount -11.65 (Decreased by -13.3 points)
March Fut Open Interest Change: 0.67%
March Fut Volume Change: -1.27%
March Fut Open Interest Analysis: Fresh Short
MIDCPNIFTY APRIL Future closed at: 12678.8 (-2.709%)
April Fut Discount 60.3 (Decreased by -10.4 points)
April Fut Open Interest Change: 15.54%
April Fut Volume Change: 8.46%
April Fut Open Interest Analysis: Fresh Short
MIDCPNIFTY Monthly Expiry (30/03/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.993 (Increased from 0.955)
Put-Call Ratio (Volume): 1.116
Max Pain Level: 13100
Maximum CALL Open Interest: 14000
Maximum PUT Open Interest: 12000
Highest CALL Addition: 13000
Highest PUT Addition: 11500
SENSEX Monthly Expiry (25/03/2026) Future
SENSEX Spot closed at: 74,563.92 (-1.934%)
SENSEX Monthly Future closed at: 74,741.15 (-2.140%)
Premium: 177.23 (Decreased by -163.55 points)
Open Interest Change: 5.04%
Volume Change: -12.57%
Open Interest Analysis: Fresh Short
SENSEX Weekly Expiry (19/03/2026) Option Analysis
Put-Call Ratio (OI): 0.719 (Decreased from 0.831)
Put-Call Ratio (Volume): 1.110
Max Pain Level: 75500
Maximum CALL OI: 79000
Maximum PUT OI: 70000
Highest CALL Addition: 78500
Highest PUT Addition: 68400
FII & DII Cash Market Activity
FIIs Net SELL: ₹ 10,716.64 Cr.
DIIs Net BUY: ₹ 9,977.42 Cr.
FII Derivatives Activity
| FII Trading Stats | 13.03.26 | 12.03.26 | 11.03.26 |
| FII Cash (Provisional Data) | -10,716.64 | -7,049.87 | -6,267.31 |
| Index Future Open Interest Long Ratio | 9.93% | 10.61% | 11.73% |
| Index Future Volume Long Ratio | 35.07% | 35.26% | 34.47% |
| Call Option Open Interest Long Ratio | 42.11% | 42.01% | 42.54% |
| Call Option Volume Long Ratio | 49.73% | 49.76% | 49.48% |
| Put Option Open Interest Long Ratio | 63.86% | 64.31% | 66.69% |
| Put Option Volume Long Ratio | 50.30% | 49.61% | 50.34% |
| Stock Future Open Interest Long Ratio | 58.49% | 58.70% | 58.78% |
| Stock Future Volume Long Ratio | 49.22% | 49.84% | 47.57% |
| Index Futures | Fresh Short | Fresh Short | Fresh Short |
| Index Options | Fresh Short | Fresh Short | Fresh Short |
| Nifty Futures | Fresh Short | Fresh Short | Fresh Short |
| Nifty Options | Fresh Short | Fresh Short | Fresh Short |
| BankNifty Futures | Fresh Long | Long Covering | Long Covering |
| BankNifty Options | Fresh Short | Fresh Short | Fresh Short |
| FinNifty Futures | Fresh Long | Long Covering | Fresh Long |
| FinNifty Options | Short Covering | Fresh Short | Short Covering |
| MidcpNifty Futures | Long Covering | Long Covering | Long Covering |
| MidcpNifty Options | Fresh Short | Fresh Short | Fresh Short |
| NiftyNxt50 Futures | Fresh Short | Fresh Short | Fresh Long |
| NiftyNxt50 Options | Fresh Long | Fresh Long | Fresh Long |
| Stock Futures | Long Covering | Fresh Short | Long Covering |
| Stock Options | Fresh Short | Fresh Short | Fresh 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
NSE & BSE Option market Trends : Options Insights
SENSEX weekly Expiry (19/03/2026)
The SENSEX index closed at 74563.92. The SENSEX weekly expiry for MARCH 19, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.719 against previous 0.831. The 79000CE option holds the maximum open interest, followed by the 76000CE and 80000CE options. Market participants have shown increased interest with significant open interest additions in the 78500CE option, with open interest additions also seen in the 79000CE and 80000CE options. On the other hand, open interest reductions were prominent in the 76000PE, 76500PE, and 76100PE options. Trading volume was highest in the 75000PE option, followed by the 75500CE and 74000PE options, indicating active trading in these strikes.
| SENSEX | Weekly | Expiry: | 19-03-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 74563.92 | 0.719 | 0.831 | 1.110 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 76,19,820 | 35,88,020 | 40,31,800 |
| PUT: | 54,78,040 | 29,80,420 | 24,97,620 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 79000 | 4,28,000 | 2,34,020 | 35,43,680 |
| 76000 | 4,20,620 | 23,860 | 58,94,760 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 78500 | 3,58,900 | 2,63,360 | 24,26,560 |
| 79000 | 4,28,000 | 2,34,020 | 35,43,680 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 76400 | 49,220 | -29,960 | 11,90,480 |
| 76300 | 48,780 | -12,080 | 11,98,300 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 75500 | 1,81,060 | 1,73,980 | 64,19,580 |
| 76000 | 4,20,620 | 23,860 | 58,94,760 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 70000 | 2,71,160 | 1,60,300 | 55,68,760 |
| 68400 | 2,51,480 | 1,80,280 | 26,62,840 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 68400 | 2,51,480 | 1,80,280 | 26,62,840 |
| 70000 | 2,71,160 | 1,60,300 | 55,68,760 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 76000 | 2,17,200 | -1,22,400 | 12,06,360 |
| 76500 | 91,760 | -74,220 | 3,30,020 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 75000 | 1,55,940 | 43,940 | 75,93,940 |
| 74000 | 1,63,200 | 53,760 | 62,36,780 |
NIFTY Weekly Expiry (17/03/2026)
The NIFTY index closed at 23151.1. The NIFTY weekly expiry for MARCH 17, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.578 against previous 0.697. The 25000CE option holds the maximum open interest, followed by the 24000CE and 21500PE options. Market participants have shown increased interest with significant open interest additions in the 25000CE option, with open interest additions also seen in the 23500CE and 24000CE options. On the other hand, open interest reductions were prominent in the 23600PE, 23500PE, and 25800CE options. Trading volume was highest in the 23000PE option, followed by the 23200PE and 23500CE options, indicating active trading in these strikes.
| NIFTY | Weekly | Expiry: | 17-03-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 23,151.10 | 0.578 | 0.697 | 1.066 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 17,66,38,020 | 13,47,03,985 | 4,19,34,035 |
| PUT: | 10,20,49,545 | 9,39,20,450 | 81,29,095 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 25,000 | 1,29,86,545 | 44,83,895 | 9,72,602 |
| 24,000 | 85,36,905 | 33,56,925 | 20,13,480 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 25,000 | 1,29,86,545 | 44,83,895 | 9,72,602 |
| 23,500 | 48,52,835 | 40,29,870 | 30,99,578 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 25,800 | 17,51,490 | -17,45,965 | 2,40,294 |
| 25,700 | 14,43,325 | -13,49,725 | 2,70,713 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 23,500 | 48,52,835 | 40,29,870 | 30,99,578 |
| 23,400 | 25,13,550 | 23,47,865 | 24,70,006 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 21,500 | 83,46,845 | 7,69,535 | 7,58,415 |
| 22,000 | 74,78,575 | 29,14,275 | 15,30,491 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 22,000 | 74,78,575 | 29,14,275 | 15,30,491 |
| 21,000 | 25,84,855 | 25,84,855 | 1,83,197 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 23,600 | 12,11,015 | -27,63,085 | 4,43,169 |
| 23,500 | 17,98,745 | -25,34,740 | 15,91,732 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 23,000 | 64,28,890 | -3,75,375 | 40,01,957 |
| 23,200 | 27,63,150 | 10,26,935 | 33,81,702 |
NIFTY Monthly Expiry (30/03/2026)
The NIFTY index closed at 23151.1. The NIFTY monthly expiry for MARCH 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.030 against previous 1.078. The 26000CE option holds the maximum open interest, followed by the 22000PE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 23500CE option, with open interest additions also seen in the 22000PE and 19000PE options. On the other hand, open interest reductions were prominent in the 24000PE, 23000PE, and 23700PE options. Trading volume was highest in the 23000PE option, followed by the 22000PE and 24000CE options, indicating active trading in these strikes.
| NIFTY | Monthly | Expiry: | 30-03-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 23,151.10 | 1.030 | 1.078 | 1.007 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 6,39,34,950 | 5,94,79,870 | 44,55,080 |
| PUT: | 6,58,41,425 | 6,41,23,860 | 17,17,565 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 26,000 | 64,18,980 | -51,020 | 42,494 |
| 25,000 | 48,71,500 | -1,91,290 | 1,18,918 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 23,500 | 24,39,645 | 17,04,170 | 1,21,398 |
| 24,000 | 41,85,290 | 6,03,960 | 1,39,405 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 27,000 | 27,80,465 | -4,17,915 | 30,288 |
| 25,700 | 10,31,030 | -2,52,005 | 17,275 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,000 | 41,85,290 | 6,03,960 | 1,39,405 |
| 24,500 | 36,25,115 | 1,48,330 | 1,21,522 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 22,000 | 53,30,040 | 13,17,930 | 1,56,234 |
| 23,000 | 47,65,815 | -9,06,365 | 1,89,666 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 22,000 | 53,30,040 | 13,17,930 | 1,56,234 |
| 19,000 | 25,71,880 | 11,09,480 | 76,923 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 24,000 | 39,33,050 | -10,39,140 | 55,561 |
| 23,000 | 47,65,815 | -9,06,365 | 1,89,666 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 23,000 | 47,65,815 | -9,06,365 | 1,89,666 |
| 22,000 | 53,30,040 | 13,17,930 | 1,56,234 |
BANKNIFTY Monthly Expiry (30/03/2026)
The BANKNIFTY index closed at 53757.85. The BANKNIFTY monthly expiry for MARCH 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.754 against previous 0.786. The 61000CE option holds the maximum open interest, followed by the 59000CE and 60000CE options. Market participants have shown increased interest with significant open interest additions in the 55000CE option, with open interest additions also seen in the 54500CE and 54000CE options. On the other hand, open interest reductions were prominent in the 61000CE, 55500PE, and 59000CE options. Trading volume was highest in the 54000PE option, followed by the 51000PE and 58000CE options, indicating active trading in these strikes.
| BANKNIFTY | Monthly | Expiry: | 30-03-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 53,757.85 | 0.754 | 0.786 | 0.899 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 1,78,51,810 | 1,66,52,900 | 11,98,910 |
| PUT: | 1,34,67,100 | 1,30,89,420 | 3,77,680 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 61,000 | 11,82,600 | -1,39,260 | 45,855 |
| 59,000 | 10,30,380 | -1,09,800 | 66,891 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 55,000 | 6,58,200 | 2,55,060 | 86,568 |
| 54,500 | 2,52,120 | 2,25,360 | 63,209 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 61,000 | 11,82,600 | -1,39,260 | 45,855 |
| 59,000 | 10,30,380 | -1,09,800 | 66,891 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 6,65,070 | 1,30,890 | 96,017 |
| 55,000 | 6,58,200 | 2,55,060 | 86,568 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 59,000 | 7,17,360 | -7,920 | 1,707 |
| 51,000 | 6,75,630 | -33,570 | 1,00,960 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 52,500 | 3,10,610 | 1,79,885 | 49,377 |
| 49,500 | 3,80,160 | 1,57,140 | 42,361 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 55,500 | 1,39,320 | -1,26,850 | 22,044 |
| 55,000 | 5,71,530 | -87,390 | 63,270 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 54,000 | 6,49,795 | 14,085 | 1,46,738 |
| 51,000 | 6,75,630 | -33,570 | 1,00,960 |
MIDCPNIFTY Monthly Expiry (30/03/2026)
The MIDCPNIFTY index closed at 12618.5. The MIDCPNIFTY monthly expiry for MARCH 30, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.993 against previous 0.955. The 12000PE option holds the maximum open interest, followed by the 14000CE and 12500PE options. Market participants have shown increased interest with significant open interest additions in the 11500PE option, with open interest additions also seen in the 13000CE and 12600PE options. On the other hand, open interest reductions were prominent in the 69000CE, 68200CE, and 68200CE options. Trading volume was highest in the 12500PE option, followed by the 12000PE and 12700PE options, indicating active trading in these strikes.
| MIDCPNIFTY | Monthly | Expiry: | 30-03-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 12,618.50 | 0.993 | 0.955 | 1.116 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 65,29,440 | 64,19,760 | 1,09,680 |
| PUT: | 64,83,960 | 61,29,360 | 3,54,600 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 14,000 | 6,92,880 | 1,47,960 | 7,492 |
| 13,000 | 5,49,960 | 1,72,440 | 14,352 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 13,000 | 5,49,960 | 1,72,440 | 14,352 |
| 14,000 | 6,92,880 | 1,47,960 | 7,492 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 13,500 | 4,84,800 | -1,99,200 | 14,991 |
| 14,100 | 98,160 | -1,02,720 | 2,238 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 13,500 | 4,84,800 | -1,99,200 | 14,991 |
| 13,000 | 5,49,960 | 1,72,440 | 14,352 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 12,000 | 8,99,520 | -29,760 | 17,137 |
| 12,500 | 6,82,440 | -66,840 | 28,369 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 11,500 | 4,99,320 | 1,82,760 | 11,855 |
| 12,600 | 2,88,360 | 1,68,600 | 10,698 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 13,000 | 3,37,560 | -1,58,640 | 7,610 |
| 12,900 | 68,640 | -76,320 | 4,191 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 12,500 | 6,82,440 | -66,840 | 28,369 |
| 12,000 | 8,99,520 | -29,760 | 17,137 |
Conclusion: What the NSE & BSE Indices Futures and Options Open Interest Volume Analysis Tells Us
The Open Interest Volume Analysis of 13/03/2026 derivatives data clearly reflects strong bearish positioning across NIFTY, BANKNIFTY, MIDCPNIFTY and SENSEX, with fresh short buildup visible in almost all futures contracts.
Declining Put-Call Ratios, falling futures premiums and aggressive call writing collectively indicate that option sellers currently have control of the market structure, which typically keeps markets under pressure in the short term.
However, key put bases such as NIFTY 22000, BANKNIFTY 52500 and MIDCPNIFTY 11500 may act as critical supports where short covering rallies could emerge if buying interest returns.
For traders, the current Open Interest Volume Analysis suggests adopting a cautious and sell-on-rise strategy, while closely watching these support levels because a breakdown below them could trigger another round of accelerated downside in the broader market.
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