NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 4/06/2026

The Open Interest Volume Analysis for 4 June 2026 reflects a market that is currently stuck in a tug-of-war between aggressive short-term traders and positional participants.
While NIFTY managed to close marginally positive, the derivatives data reveals a much more interesting story beneath the surface. Combined futures open interest in NIFTY increased by 3.39%, indicating fresh participation, but the sharp 49.65% decline in volumes suggests that conviction remains selective rather than broad-based.
The decline in futures premium across June and July contracts, coupled with fresh short buildup in near-month futures, indicates that traders are still selling rallies despite the index holding above the crucial 23,400 zone.
At the options level, both weekly and monthly PCRs declined, showing a gradual reduction in bullish aggressiveness, while call writers continued to strengthen positions at higher strikes.
This Open Interest Volume Analysis suggests that the market is entering the new trading session with a neutral-to-cautious undertone, where stock-specific opportunities may outperform index-wide directional trades.
Meanwhile, BANKNIFTY displayed signs of short covering and relative strength, MIDCPNIFTY continued to attract selective long positions, and SENSEX witnessed fresh short creation despite a flat closing.
Overall, the derivatives setup points toward consolidation with a slight bearish bias unless key resistance levels are decisively crossed.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 23416.55 (0.047%)

Combined = June + July + August

Combined Fut Open Interest Change: 3.39%

Combined Fut Volume Change: -49.65%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 9% Previous 9%

NIFTY JUNE Future closed at: 23511.6 (-0.017%)

June Fut Premium 95.05 (Decreased by -15.05 points)

June Fut Open Interest Change: 3.46%

June Fut Volume Change: -49.45%

June Fut Open Interest Analysis: Fresh Short

NIFTY JULY Future closed at: 23605 (-0.048%)

July Fut Premium 188.45 (Decreased by -22.35 points)

July Fut Open Interest Change: 2.27%

July Fut Volume Change: -47.75%

July Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (9/06/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.964 (Decreased from 0.983)

Put-Call Ratio (Volume): 0.953

Max Pain Level: 23450

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 22500

Highest CALL Addition: 24200

Highest PUT Addition: 22500

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

Put-Call Ratio (Open Interest): 1.032 (Decreased from 1.044)

Put-Call Ratio (Volume): 0.707

Max Pain Level: 24000

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 23500

Highest PUT Addition: 23500

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 54307.85 (0.225%)

Combined = June + July + August

Combined Fut Open Interest Change: -1.13%

Combined Fut Volume Change: -52.97%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 7% Previous 7%

BANKNIFTY JUNE Future closed at: 54616.6 (0.182%)

June Fut Premium 308.75 (Decreased by -22.7 points)

June Fut Open Interest Change: -1.4%

June Fut Volume Change: -53.5%

June Fut Open Interest Analysis: Short Covering

BANKNIFTY JULY Future closed at: 54909.2 (0.163%)

July Fut Premium 601.35 (Decreased by -32.3 points)

July Fut Open Interest Change: 2.84%

July Fut Volume Change: -46.25%

July Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 0.923 (Decreased from 0.923)

Put-Call Ratio (Volume): 0.691

Max Pain Level: 55000

Maximum CALL Open Interest: 60000

Maximum PUT Open Interest: 54000

Highest CALL Addition: 54600

Highest PUT Addition: 54000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14186.3 (0.263%)

Combined = June + July + August

Combined Fut Open Interest Change: 0.54%

Combined Fut Volume Change: -54.75%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 3% Previous 3%

MIDCPNIFTY JUNE Future closed at: 14281 (-0.034%)

June Fut Premium 94.7 (Decreased by -42.1 points)

June Fut Open Interest Change: 0.47%

June Fut Volume Change: -53.31%

June Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY JULY Future closed at: 14322.15 (0.028%)

July Fut Premium 135.85 (Decreased by -33.25 points)

July Fut Open Interest Change: 2.46%

July Fut Volume Change: -72.57%

July Fut Open Interest Analysis: Fresh Long

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

Put-Call Ratio (Open Interest): 0.986 (Decreased from 1.034)

Put-Call Ratio (Volume): 0.861

Max Pain Level: 14350

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 13500

Highest CALL Addition: 14700

Highest PUT Addition: 13800

SENSEX Monthly Expiry (25/06/2026) Future

SENSEX Spot closed at: 74,360.01 (0.019%)

SENSEX Monthly Future closed at: 74,768.45 (-0.076%)

Premium: 408.44 (Decreased by -70.44 points)

Open Interest Change: 7.99%

Volume Change: 16.35%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (11/06/2026) Option Analysis

Put-Call Ratio (OI): 1.086 (Increased from 1.080)

Put-Call Ratio (Volume): 1.029

Max Pain Level: 74900

Maximum CALL OI: 74500

Maximum PUT OI: 74000

Highest CALL Addition: 77500

Highest PUT Addition: 73000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 4,447.06 Cr.

DIIs Net BUY: ₹ 4,360.14 Cr.

FII Derivatives Activity

FII Trading Stats	4.06.26	3.06.26	2.06.26
FII Cash (Provisional Data)	-4,447.06	-5,616.56	-8,362.92
Index Future Open Interest Long Ratio	8.78%	8.34%	8.79%
Index Future Volume Long Ratio	44.05%	33.76%	42.63%
Call Option Open Interest Long Ratio	39.48%	39.74%	36.60%
Call Option Volume Long Ratio	49.75%	50.25%	50.06%
Put Option Open Interest Long Ratio	69.53%	71.21%	72.61%
Put Option Volume Long Ratio	49.78%	50.37%	49.70%
Stock Future Open Interest Long Ratio	54.72%	54.74%	55.02%
Stock Future Volume Long Ratio	49.82%	47.11%	55.89%
Index Futures	Fresh Short	Fresh Short	Fresh Short
Index Options	Fresh Short	Fresh Long	Long Covering
Nifty Futures	Fresh Short	Fresh Short	Fresh Short
Nifty Options	Fresh Short	Fresh Long	Long Covering
BankNifty Futures	Fresh Long	Fresh Long	Short Covering
BankNifty Options	Long Covering	Fresh Long	Fresh Long
FinNifty Futures	Short Covering	Long Covering	Fresh Short
FinNifty Options	Fresh Short	Fresh Long	Fresh Long
MidcpNifty Futures	Fresh Long	Long Covering	Long Covering
MidcpNifty Options	Fresh Long	Fresh Short	Fresh Short
NiftyNxt50 Futures	Fresh Long	Fresh Short	Fresh Short
NiftyNxt50 Options	Fresh Long	Fresh Long	Fresh Long
Stock Futures	Fresh Short	Long Covering	Short Covering
Stock Options	Fresh Long	Fresh Long	Fresh Long

NSE & BSE Option market Trends : Options Insights

SENSEX weekly Expiry (11/06/2026)

The SENSEX index closed at 74360.01. The SENSEX weekly expiry for JUNE 11, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.086 against previous 1.080. The 74000PE option holds the maximum open interest, followed by the 72000PE and 74500PE options. Market participants have shown increased interest with significant open interest additions in the 73000PE option, with open interest additions also seen in the 74000PE and 77500CE options. On the other hand, open interest reductions were prominent in the 73500CE, 76800PE, and 75900PE options. Trading volume was highest in the 74000PE option, followed by the 74500CE and 72000PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	11-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
74360.01	1.086	1.080	1.029
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	46,45,060	17,68,900	28,76,160
PUT:	50,45,280	19,10,800	31,34,480
Top CALL Open Interest:
Strike	OI	OI Change	Volume
74500	3,94,560	1,00,160	20,03,820
75000	3,83,220	1,24,760	17,52,840
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
77500	3,38,040	2,70,720	11,49,240
78000	3,73,460	2,68,220	13,19,320
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
73500	10,600	-500	34,480
83100	–	-120	120
Top CALL Volume:
Strike	OI	OI Change	Volume
74500	3,94,560	1,00,160	20,03,820
74000	3,53,800	2,15,440	18,30,780
Top PUT Open Interest:
Strike	OI	OI Change	Volume
74000	4,65,760	2,78,480	29,19,320
72000	4,34,680	2,09,360	18,40,320
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
73000	3,77,560	2,94,400	16,97,500
74000	4,65,760	2,78,480	29,19,320
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
76800	520	-360	920
75900	3,440	-200	1,660
Top PUT Volume:
Strike	OI	OI Change	Volume
74000	4,65,760	2,78,480	29,19,320
72000	4,34,680	2,09,360	18,40,320

NIFTY Weekly Expiry (9/06/2026)

The NIFTY index closed at 23416.55. The NIFTY weekly expiry for JUNE 09, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.964 against previous 0.983. The 24000CE option holds the maximum open interest, followed by the 22500PE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 22500PE option, with open interest additions also seen in the 24200CE and 24000CE options. On the other hand, open interest reductions were prominent in the 23300CE, 23500CE, and 21850PE options. Trading volume was highest in the 23400PE option, followed by the 23400CE and 23300PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	09-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
23,416.55	0.964	0.983	0.953
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	13,56,13,465	10,56,12,130	3,00,01,335
PUT:	13,06,97,645	10,37,66,715	2,69,30,930
Top CALL Open Interest:
Strike	OI	OI Change	Volume
24,000	1,16,48,325	30,76,970	14,69,609
25,000	87,01,030	16,73,100	4,49,513
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
24,200	63,33,145	31,60,560	6,02,643
24,000	1,16,48,325	30,76,970	14,69,609
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
23,300	40,38,255	-4,06,705	13,38,193
23,500	69,51,295	-3,45,930	22,39,313
Top CALL Volume:
Strike	OI	OI Change	Volume
23,400	37,88,460	10,51,505	27,33,258
23,500	69,51,295	-3,45,930	22,39,313
Top PUT Open Interest:
Strike	OI	OI Change	Volume
22,500	97,83,605	42,38,845	6,58,327
23,000	79,94,545	17,61,370	15,44,144
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
22,500	97,83,605	42,38,845	6,58,327
23,150	34,50,655	20,03,560	8,67,254
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
21,850	2,18,985	-1,82,975	41,697
22,100	15,55,840	-1,43,260	1,64,921
Top PUT Volume:
Strike	OI	OI Change	Volume
23,400	54,19,245	16,45,605	27,64,427
23,300	76,49,135	12,64,055	23,98,206

NIFTY Monthly Expiry (30/06/2026)

The NIFTY index closed at 23416.55. The NIFTY monthly expiry for JUNE 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.032 against previous 1.044. The 25000CE option holds the maximum open interest, followed by the 24000CE and 26000CE options. Market participants have shown increased interest with significant open interest additions in the 23500CE option, with open interest additions also seen in the 25000CE and 23500PE options. On the other hand, open interest reductions were prominent in the 24500CE, 23000PE, and 23200PE options. Trading volume was highest in the 24000CE option, followed by the 23500CE and 25000CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
23,416.55	1.032	1.044	0.707
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,45,99,060	6,27,95,560	18,03,500
PUT:	6,66,56,685	6,55,37,000	11,19,685
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	90,54,850	5,80,840	60,789
24,000	82,91,145	97,955	83,912
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
23,500	33,87,995	6,17,825	80,988
25,000	90,54,850	5,80,840	60,789
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,500	48,83,450	-1,75,045	48,113
24,300	7,76,490	-81,575	17,746
Top CALL Volume:
Strike	OI	OI Change	Volume
24,000	82,91,145	97,955	83,912
23,500	33,87,995	6,17,825	80,988
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	54,90,135	-61,105	11,953
25,000	48,91,580	-4,845	831
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
23,500	39,73,125	5,26,825	53,635
23,300	13,15,405	3,75,245	34,328
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,000	46,06,540	-1,71,115	52,936
23,200	10,01,975	-1,23,110	14,243
Top PUT Volume:
Strike	OI	OI Change	Volume
23,500	39,73,125	5,26,825	53,635
23,000	46,06,540	-1,71,115	52,936

BANKNIFTY Monthly Expiry (30/06/2026)

The BANKNIFTY index closed at 54307.85. The BANKNIFTY monthly expiry for JUNE 30, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.923 against previous 0.923. The 60000CE option holds the maximum open interest, followed by the 54000PE and 60000PE options. Market participants have shown increased interest with significant open interest additions in the 54600CE option, with open interest additions also seen in the 54500CE and 54000PE options. On the other hand, open interest reductions were prominent in the 60000CE, 59000CE, and 48000PE options. Trading volume was highest in the 54000PE option, followed by the 54000CE and 55000CE options, indicating active trading in these strikes.
 

BANKNIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
54,307.85	0.923	0.923	0.691
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,44,40,350	1,42,61,430	1,78,920
PUT:	1,33,23,720	1,31,60,160	1,63,560
Top CALL Open Interest:
Strike	OI	OI Change	Volume
60,000	20,56,410	-61,620	40,601
54,000	11,06,190	-1,140	81,342
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
54,600	1,42,380	63,930	24,397
54,500	5,05,260	62,910	70,604
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
60,000	20,56,410	-61,620	40,601
59,000	4,77,030	-49,830	21,328
Top CALL Volume:
Strike	OI	OI Change	Volume
54,000	11,06,190	-1,140	81,342
55,000	9,84,690	39,960	71,302
Top PUT Open Interest:
Strike	OI	OI Change	Volume
54,000	12,80,850	42,030	85,771
60,000	12,46,860	-3,270	325
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
54,000	12,80,850	42,030	85,771
54,300	1,14,450	40,650	38,645
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
48,000	2,84,370	-33,690	13,453
53,600	72,390	-17,700	8,093
Top PUT Volume:
Strike	OI	OI Change	Volume
54,000	12,80,850	42,030	85,771
54,200	96,180	2,970	40,080

MIDCPNIFTY Monthly Expiry (30/06/2026)

The MIDCPNIFTY index closed at 14186.3. The MIDCPNIFTY monthly expiry for JUNE 30, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.986 against previous 1.034. The 13500PE option holds the maximum open interest, followed by the 13000PE and 15000CE options. Market participants have shown increased interest with significant open interest additions in the 14700CE option, with open interest additions also seen in the 14250CE and 13800PE options. On the other hand, open interest reductions were prominent in the 70000PE, 73900CE, and 82000PE options. Trading volume was highest in the 14300CE option, followed by the 13000PE and 15000CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	30-06-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
14,186.30	0.986	1.034	0.861
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	51,33,960	49,97,760	1,36,200
PUT:	50,63,520	51,67,560	-1,04,040
Top CALL Open Interest:
Strike	OI	OI Change	Volume
15,000	5,51,280	18,840	6,845
15,500	5,07,360	-6,840	2,689
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
14,700	2,79,480	42,720	3,503
14,250	80,280	41,280	2,480
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
14,000	1,32,240	-46,080	1,471
14,400	1,77,360	-27,840	3,187
Top CALL Volume:
Strike	OI	OI Change	Volume
14,300	2,34,240	-25,080	8,830
15,000	5,51,280	18,840	6,845
Top PUT Open Interest:
Strike	OI	OI Change	Volume
13,500	6,18,120	-53,520	6,285
13,000	6,09,480	-98,760	6,885
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
13,800	2,68,200	39,600	2,732
14,000	3,36,720	22,560	5,644
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
13,000	6,09,480	-98,760	6,885
14,100	3,13,200	-58,080	3,011
Top PUT Volume:
Strike	OI	OI Change	Volume
13,000	6,09,480	-98,760	6,885
13,500	6,18,120	-53,520	6,285

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

The overall Open Interest Volume Analysis indicates that the broader market remains range-bound but increasingly sensitive to directional triggers.
NIFTY’s futures data shows a divergence between aggregate fresh long additions and near-month fresh short buildup, suggesting that institutional traders are building positions cautiously while short-term participants remain skeptical of an immediate upside breakout.
The options structure reinforces this view, with aggressive call additions above current market levels and falling PCR readings signaling limited optimism. BANKNIFTY continues to be the strongest segment within the index space, supported by short covering in June contracts and fresh long additions in July contracts, making it the most likely candidate to lead any upside move.
MIDCPNIFTY remains structurally positive but faces overhead resistance near the 14,350 max-pain zone, while SENSEX derivatives continue to reflect defensive positioning through fresh short creation and shrinking futures premium.
From a trading perspective, bulls still hold an advantage above NIFTY 23,300–23,350 and BANKNIFTY 54,000, but sustained buying will be required to challenge the major resistance zones near NIFTY 23,500–23,600 and BANKNIFTY 55,000.
Until then, this Open Interest Volume Analysis favors a strategy of buying quality dips, maintaining strict risk management, and avoiding aggressive leveraged bets in either direction as the market appears to be preparing for its next decisive move rather than actively trending.

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