NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 27/05/2026

Friday’s session ended on a highly stock-specific and rollover-driven note, where the broader indices remained range-bound but the derivatives data clearly reflected selective positioning ahead of the June expiry cycle. The latest Open Interest Volume Analysis indicates that traders are gradually shifting exposure toward July contracts while maintaining a cautious stance in the near term.

In NIFTY, despite spot closing almost flat near 23,907, rising futures open interest along with falling volume suggests controlled accumulation rather than aggressive bullish participation. The sharp increase in premiums across June and July futures confirms that positional traders are still carrying a bullish undertone, but the decline in PCR from both weekly and monthly option chains shows that upside optimism has become more selective and resistance-heavy around the 24,000–24,500 zone.

From an options perspective, the weekly NIFTY data is showing a tightly contested range between 23,900 and 24,000, with maximum CALL writing concentrated at 25,000 and fresh PUT additions emerging at 23,900. This combination in the Open Interest Volume Analysis reflects strong support near current levels, but also indicates that writers are not yet ready to surrender higher resistance zones. The monthly max pain at 24,500 continues to hint that positional traders are expecting gradual upward migration over the coming weeks, although immediate momentum remains capped unless heavy CALL writing unwinds.

BANKNIFTY displayed comparatively weaker sentiment as both June and July futures witnessed fresh short buildup along with declining premiums. This is an important signal because banking stocks generally lead directional momentum in the broader market. The derivatives structure now suggests that 55,500–56,000 may continue acting as a supply zone unless aggressive short covering emerges. The monthly option chain further confirms this cautious stance, with CALL writers aggressively defending the 60,000 strike while PUT additions at 49,500 indicate deeper downside hedging by institutions.

MIDCPNIFTY, however, continues to outperform on a relative basis. The Open Interest Volume Analysis here reflects fresh long creation in July futures along with strong improvement in both OI and volume PCR readings. Rising bullish positioning combined with a higher PCR of 1.339 suggests that traders are increasingly comfortable accumulating midcap exposure despite consolidation in frontline indices. The 14,650 max pain level remains a crucial short-term equilibrium zone, while aggressive CALL additions at 15,500 may temporarily limit sharp upside expansion.

SENSEX derivatives data also reflected a defensive undertone, where exceptionally high open interest and volume additions in futures coincided with fresh short positioning. The options chain remained centered around the 76,000 strike, clearly highlighting institutional preference for a broad consolidation zone rather than immediate directional expansion. Overall, the derivatives market is currently signaling a “buy on dips but stay hedged” environment, where traders are willing to accumulate selectively but remain cautious due to resistance pressure and rollover uncertainty.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 23907.15 (-0.027%)

Combined = June + July + August

Combined Fut Open Interest Change: 2.76%

Combined Fut Volume Change: -48.11%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 7% Previous 6%

NIFTY JUNE Future closed at: 23996.7 (0.074%)

June Fut Premium 89.55 (Increased by 24.35 points)

June Fut Open Interest Change: 2.17%

June Fut Volume Change: -48.97%

June Fut Open Interest Analysis: Fresh Long

NIFTY JULY Future closed at: 24089.6 (0.103%)

July Fut Premium 182.45 (Increased by 31.45 points)

July Fut Open Interest Change: 6.83%

July Fut Volume Change: -53.96%

July Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (02/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.857 (Decreased from 0.927)

Put-Call Ratio (Volume): 1.002

Max Pain Level: 23950

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 23000

Highest CALL Addition: 25000

Highest PUT Addition: 23900

NIFTY Monthly Expiry (30/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.202 (Decreased from 1.215)

Put-Call Ratio (Volume): 0.863

Max Pain Level: 24500

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24000

Highest PUT Addition: 23500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 54853.85 (-0.434%)

Combined = June + July + August

Combined Fut Open Interest Change: 2.95%

Combined Fut Volume Change: -24.14%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 5% Previous 5%

BANKNIFTY JUNE Future closed at: 55207 (-0.452%)

June Fut Premium 353.15 (Decreased by -11.75 points)

June Fut Open Interest Change: 2.4%

June Fut Volume Change: -24.6%

June Fut Open Interest Analysis: Fresh Short

BANKNIFTY JULY Future closed at: 55490 (-0.474%)

July Fut Premium 636.15 (Decreased by -25.35 points)

July Fut Open Interest Change: 10.11%

July Fut Volume Change: -29.50%

July Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (30/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.981 (Decreased from 0.989)

Put-Call Ratio (Volume): 0.863

Max Pain Level: 55500

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 60000

Highest CALL Addition: 60000

Highest PUT Addition: 49500

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14705.95 (0.207%)

Combined = June + July + August

Combined Fut Open Interest Change: 0.13%

Combined Fut Volume Change: -48.70%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 2% Previous 2%

MIDCPNIFTY JUNE Future closed at: 14796.15 (0.129%)

June Fut Premium 90.2 (Decreased by -11.35 points)

June Fut Open Interest Change: -0.01%

June Fut Volume Change: -49.50%

June Fut Open Interest Analysis: Short Covering

MIDCPNIFTY JULY Future closed at: 14847 (0.308%)

July Fut Premium 141.05 (Increased by 15.3 points)

July Fut Open Interest Change: 7.47%

July Fut Volume Change: -31.47%

July Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY Monthly Expiry (30/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.339 (Increased from 1.121)

Put-Call Ratio (Volume): 1.365

Max Pain Level: 14650

Maximum CALL Open Interest: 16000

Maximum PUT Open Interest: 13000

Highest CALL Addition: 15500

Highest PUT Addition: 13500

SENSEX Monthly Expiry (25/06/2026) Future

SENSEX Spot closed at: 75,867.80 (-0.187%)

SENSEX Monthly Future closed at: 76,385.60 (-0.084%)

Premium: 517.8 (Increased by 77.9 points)

Open Interest Change: 47.12%

Volume Change: 81.24%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (4/06/2026) Option Analysis

Put-Call Ratio (OI): 0.938 (Decreased from 1.157)

Put-Call Ratio (Volume): 0.986

Max Pain Level: 76000

Maximum CALL OI: 76000

Maximum PUT OI: 76000

Highest CALL Addition: 76000

Highest PUT Addition: 76000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 1,042.70 Cr.

DIIs Net BUY: ₹ 3,821.00 Cr.

FII Derivatives Activity

FII Trading Stats	27.05.26	26.05.26	25.05.26
FII Cash (Provisional Data)	-1,042.70	-2,407.87	821.75
Index Future Open Interest Long Ratio	16.14%	16.68%	16.13%
Index Future Volume Long Ratio	30.28%	37.75%	54.51%
Call Option Open Interest Long Ratio	40.22%	38.08%	48.67%
Call Option Volume Long Ratio	49.90%	49.37%	50.69%
Put Option Open Interest Long Ratio	69.89%	73.41%	60.50%
Put Option Volume Long Ratio	50.04%	50.05%	49.75%
Stock Future Open Interest Long Ratio	54.28%	54.38%	54.34%
Stock Future Volume Long Ratio	49.10%	51.05%	50.47%
Index Futures	Fresh Short	Long Covering	Fresh Long
Index Options	Fresh Short	Long Covering	Fresh Long
Nifty Futures	Fresh Short	Long Covering	Short Covering
Nifty Options	Fresh Short	Long Covering	Fresh Long
BankNifty Futures	Fresh Short	Long Covering	Fresh Long
BankNifty Options	Fresh Long	Long Covering	Long Covering
FinNifty Futures	Fresh Long	Long Covering	Short Covering
FinNifty Options	Fresh Long	Short Covering	Fresh Long
MidcpNifty Futures	Short Covering	Short Covering	Long Covering
MidcpNifty Options	Fresh Long	Long Covering	Fresh Long
NiftyNxt50 Futures	Fresh Long	Long Covering	Fresh Long
NiftyNxt50 Options	Fresh Long	Short Covering	Fresh Long
Stock Futures	Fresh Short	Short Covering	Fresh Long
Stock Options	Fresh Short	Long Covering	Short Covering

NSE & BSE Option market Trends : Options Insights

SENSEX weekly Expiry (4/06/2026)

The SENSEX index closed at 75867.8. The SENSEX weekly expiry for JUNE 4, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.938 against previous 1.157. The 76000PE 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 76000CE option, with open interest additions also seen in the 76000PE and 79000CE options. On the other hand, open interest reductions were prominent in the 76400PE, 76700PE, and 82500CE options. Trading volume was highest in the 76000PE option, followed by the 76000CE and 79000CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	04-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
75867.8	0.938	1.157	0.986
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	41,37,180	12,79,140	28,58,040
PUT:	38,79,620	14,79,340	24,00,280
Top CALL Open Interest:
Strike	OI	OI Change	Volume
76000	5,70,380	4,22,020	28,13,140
80000	3,70,280	1,87,680	11,05,760
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
76000	5,70,380	4,22,020	28,13,140
79000	3,52,240	2,73,120	11,60,600
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
82500	840	-60	5,840
70500	20	-20	80
Top CALL Volume:
Strike	OI	OI Change	Volume
76000	5,70,380	4,22,020	28,13,140
79000	3,52,240	2,73,120	11,60,600
Top PUT Open Interest:
Strike	OI	OI Change	Volume
76000	5,74,440	4,01,000	29,35,500
70000	3,05,400	1,30,600	3,42,120
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
76000	5,74,440	4,01,000	29,35,500
75500	2,59,800	1,88,560	10,63,820
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
76400	13,600	-6,680	46,480
76700	5,060	-180	10,900
Top PUT Volume:
Strike	OI	OI Change	Volume
76000	5,74,440	4,01,000	29,35,500
74000	2,49,300	1,11,240	11,10,800

NIFTY Weekly Expiry (2/06/2026)

The NIFTY index closed at 23907.15. The NIFTY weekly expiry for JUNE 02, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.857 against previous 0.927. The 25000CE option holds the maximum open interest, followed by the 24000CE and 24500CE options. Market participants have shown increased interest with significant open interest additions in the 25000CE option, with open interest additions also seen in the 24500CE and 23900PE options. On the other hand, open interest reductions were prominent in the 21500PE, 22200PE, and 21100PE options. Trading volume was highest in the 23900PE option, followed by the 23900CE and 24000CE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	02-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
23,907.15	0.857	0.927	1.002
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	11,32,49,565	7,00,98,145	4,31,51,420
PUT:	9,70,53,710	6,49,90,640	3,20,63,070
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	88,05,290	31,53,150	6,74,764
24,000	86,50,330	28,07,740	21,99,460
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
25,000	88,05,290	31,53,150	6,74,764
24,500	78,23,465	30,80,545	8,87,729
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,100	79,235	-40,950	9,298
23,300	89,700	-3,510	1,909
Top CALL Volume:
Strike	OI	OI Change	Volume
23,900	50,03,700	20,72,980	24,01,266
24,000	86,50,330	28,07,740	21,99,460
Top PUT Open Interest:
Strike	OI	OI Change	Volume
23,000	72,66,610	26,43,810	6,59,298
23,200	58,79,770	22,50,170	7,75,733
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
23,900	57,90,980	28,10,275	27,85,103
23,000	72,66,610	26,43,810	6,59,298
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
21,500	15,76,900	-3,66,275	67,113
22,200	6,31,930	-2,02,475	57,336
Top PUT Volume:
Strike	OI	OI Change	Volume
23,900	57,90,980	28,10,275	27,85,103
24,000	48,54,980	7,76,620	15,21,460

NIFTY Monthly Expiry (30/06/2026)

The NIFTY index closed at 23907.15. The NIFTY monthly expiry for JUNE 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.202 against previous 1.215. The 25000CE option holds the maximum open interest, followed by the 26000CE and 24000PE options. Market participants have shown increased interest with significant open interest additions in the 24000CE option, with open interest additions also seen in the 23500PE and 22000PE options. On the other hand, open interest reductions were prominent in the 23000PE, 21500PE, and 26500CE options. Trading volume was highest in the 25000CE option, followed by the 24000CE and 24500CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
23,907.15	1.202	1.215	0.863
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	4,96,00,920	4,72,80,575	23,20,345
PUT:	5,95,98,590	5,74,61,075	21,37,515
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	80,22,015	2,18,185	65,610
26,000	55,81,975	1,22,945	20,041
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
24,000	52,65,005	4,15,055	59,616
23,900	6,84,840	3,13,560	25,473
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,500	10,51,050	-1,80,635	15,941
25,500	29,36,830	-63,960	28,051
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	80,22,015	2,18,185	65,610
24,000	52,65,005	4,15,055	59,616
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	53,87,280	2,82,080	45,677
25,000	49,69,435	11,310	4,050
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
23,500	33,59,590	3,84,930	40,776
22,000	33,88,680	3,61,465	28,505
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,000	49,39,720	-2,94,350	43,236
21,500	9,23,715	-2,34,000	13,208
Top PUT Volume:
Strike	OI	OI Change	Volume
24,000	53,87,280	2,82,080	45,677
23,000	49,39,720	-2,94,350	43,236

BANKNIFTY Monthly Expiry (30/06/2026)

The BANKNIFTY index closed at 54853.85. The BANKNIFTY monthly expiry for JUNE 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.981 against previous 0.989. The 60000CE option holds the maximum open interest, followed by the 60000PE and 54000PE options. Market participants have shown increased interest with significant open interest additions in the 60000CE option, with open interest additions also seen in the 58000CE and 55500CE options. On the other hand, open interest reductions were prominent in the 61500CE, 60000PE, and 67500CE options. Trading volume was highest in the 55000PE option, followed by the 55000CE and 58000CE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
54,853.85	0.981	0.989	0.863
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,04,93,160	88,75,740	16,17,420
PUT:	1,02,93,480	87,80,610	15,12,870
Top CALL Open Interest:
Strike	OI	OI Change	Volume
60,000	24,31,050	2,25,810	50,514
54,000	7,33,830	2,250	9,560
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
60,000	24,31,050	2,25,810	50,514
58,000	6,28,710	1,67,040	56,446
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
61,500	51,750	-51,270	5,199
67,500	35,100	-11,880	1,080
Top CALL Volume:
Strike	OI	OI Change	Volume
55,000	7,28,280	1,14,030	98,378
58,000	6,28,710	1,67,040	56,446
Top PUT Open Interest:
Strike	OI	OI Change	Volume
60,000	12,92,340	-35,130	2,310
54,000	10,24,290	75,780	33,322
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
49,500	2,29,200	1,33,140	11,982
54,000	10,24,290	75,780	33,322
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
60,000	12,92,340	-35,130	2,310
46,000	64,440	-3,000	3,246
Top PUT Volume:
Strike	OI	OI Change	Volume
55,000	6,81,750	73,050	1,04,843
55,100	83,910	44,160	36,317

MIDCPNIFTY Monthly Expiry (30/06/2026)

The MIDCPNIFTY index closed at 14705.95. The MIDCPNIFTY monthly expiry for JUNE 30, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.339 against previous 1.121. The 13000PE option holds the maximum open interest, followed by the 13500PE and 16000CE options. Market participants have shown increased interest with significant open interest additions in the 13500PE option, with open interest additions also seen in the 15500CE and 14200PE options. On the other hand, open interest reductions were prominent in the 78200CE, 78200CE, and 78200CE options. Trading volume was highest in the 14700PE option, followed by the 14000PE and 14700CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
14,705.95	1.339	1.121	1.365
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	25,16,520	15,96,120	9,20,400
PUT:	33,68,400	17,88,480	15,79,920
Top CALL Open Interest:
Strike	OI	OI Change	Volume
16,000	4,86,480	89,880	4,038
15,500	4,22,160	1,83,960	6,382
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
15,500	4,22,160	1,83,960	6,382
15,900	98,760	95,520	1,294
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,500	1,68,600	-24,120	1,507
14,400	23,760	-6,480	294
Top CALL Volume:
Strike	OI	OI Change	Volume
14,700	1,63,320	77,040	7,971
15,500	4,22,160	1,83,960	6,382
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,000	5,09,040	1,00,560	5,120
13,500	4,95,240	2,79,960	7,059
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,500	4,95,240	2,79,960	7,059
14,200	1,98,000	1,75,680	3,094
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
12,500	80,280	-12,960	657
14,000	3,84,720	-2,880	9,313
Top PUT Volume:
Strike	OI	OI Change	Volume
14,700	2,16,480	1,57,560	9,503
14,000	3,84,720	-2,880	9,313

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

The overall derivatives setup for 27/06/2026 suggests that the market is entering a crucial transition phase where rollover activity, selective long buildup, and defensive option writing are simultaneously shaping sentiment. The latest Open Interest Volume Analysis shows that bulls still retain medium-term control in NIFTY and MIDCPNIFTY, but the momentum is not broad-based enough to trigger a runaway rally immediately. Traders should closely monitor whether NIFTY sustains above the 23,900–24,000 support cluster because sustained holding above this zone can gradually push the index toward the 24,300–24,500 region in the coming sessions.

BANKNIFTY remains the key concern for bulls as persistent fresh shorts and declining futures premiums continue to indicate hesitation among institutional participants. Unless banking stocks witness meaningful short covering, upside breakouts in the broader market may remain restricted. On the other hand, MIDCPNIFTY continues to display stronger risk appetite and may continue outperforming as long as 14,650 support remains intact.

Another important takeaway from the current Open Interest Volume Analysis is that falling trading volumes alongside rising open interest across several contracts indicate that the market is becoming increasingly positional rather than momentum-driven. This typically leads to volatile expiry sessions and sudden directional moves once large writers begin adjusting hedges. Traders should therefore avoid overleveraged directional bets and instead focus on disciplined risk management with clearly defined support and resistance levels.

For short-term traders, the strategy remains stock-specific with a “range-to-breakout” approach, while positional traders can continue maintaining a cautiously bullish bias as long as major support zones hold. Option writers are still dominating higher strikes, but the absence of aggressive PUT unwinding suggests that deeper corrections are not yet being aggressively priced in. Overall, the derivatives landscape currently favors gradual accumulation on declines rather than panic selling, keeping the broader market structure stable despite intermittent volatility.

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