Turning Complex Derivative Data into Clear Market Insights
NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 6/07/2026
Table of Contents
Open Interest Volume Analysis for 6 July 2026 points to a market that is extending its bullish trend, but with a more selective approach as traders booked short positions instead of creating aggressive fresh longs in NIFTY Futures.
The combination of short covering in NIFTY, fresh long build-up in BANKNIFTY, and improving Put-Call Ratios across major indices suggests that the broader market sentiment remains positive despite shrinking futures premiums.
At the same time, the sharp decline in futures volumes indicates that traders are becoming cautious near higher levels ahead of weekly expiry and key events. Open Interest Volume Analysis also highlights that options writers have shifted their activity towards the 24,400-24,500 zone in NIFTY and the 58,300-59,000 zone in BANKNIFTY, making these levels the most important reference points for Tuesday’s session.
Unless these supports break decisively, the overall derivatives structure continues to favour buying on declines rather than chasing momentum at higher levels.
NSE & BSE F&O Market Signals
NIFTY Future analysis
NIFTY Spot closed at: 24430.35 (0.657%)
Combined = July + August + September
Combined Fut Open Interest Change: -2.14%
Combined Fut Volume Change: -17.43%
Combined Fut Open Interest Analysis: Short Covering
Rollover: 10% Previous 9%
NIFTY JULY Future closed at: 24482.9 (0.535%)
July Fut Premium 52.55 (Decreased by -29.3 points)
July Fut Open Interest Change: -2.48%
July Fut Volume Change: -16.95%
July Fut Open Interest Analysis: Short Covering
NIFTY AUGUST Future closed at: 24571 (0.515%)
Aug Fut Premium 140.65 (Decreased by -33.7 points)
Aug Fut Open Interest Change: -0.04%
Aug Fut Volume Change: -25.03%
Aug Fut Open Interest Analysis: Short Covering
NIFTY Weekly Expiry (07/07/2026) Option Analysis
Put-Call Ratio (Open Interest): 1.497 (Increased from 0.997)
Put-Call Ratio (Volume): 0.937
Max Pain Level: 24400
Maximum CALL Open Interest: 24500
Maximum PUT Open Interest: 24000
Highest CALL Addition: 24450
Highest PUT Addition: 24400
NIFTY Monthly Expiry (28/07/2026) Option Analysis
Put-Call Ratio (Open Interest): 1.161 (Increased from 1.136)
Put-Call Ratio (Volume): 1.150
Max Pain Level: 24300
Maximum CALL Open Interest: 25000
Maximum PUT Open Interest: 24000
Highest CALL Addition: 24400
Highest PUT Addition: 24400
BANKNIFTY Future Analysis
BANKNIFTY Spot closed at: 58291.5 (0.609%)
Combined = July + August + September
Combined Fut Open Interest Change: 1.02%
Combined Fut Volume Change: 19.81%
Combined Fut Open Interest Analysis: Fresh Long
Rollover: 9% Previous 9%
BANKNIFTY JULY Future closed at: 58508.8 (0.494%)
July Fut Premium 217.3 (Decreased by -65.2 points)
July Fut Open Interest Change: 0.9%
July Fut Volume Change: 23.0%
July Fut Open Interest Analysis: Fresh Long
BANKNIFTY AUGUST Future closed at: 58803.8 (0.462%)
Aug Fut Premium 512.3 (Decreased by -82.4 points)
Aug Fut Open Interest Change: 2.76%
Aug Fut Volume Change: -11.74%
Aug Fut Open Interest Analysis: Fresh Long
BANKNIFTY Monthly Expiry (28/07/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.892 (Increased from 0.850)
Put-Call Ratio (Volume): 0.850
Max Pain Level: 58300
Maximum CALL Open Interest: 60000
Maximum PUT Open Interest: 58000
Highest CALL Addition: 59000
Highest PUT Addition: 59000
MIDCPNIFTY Future Analysis
MIDCPNIFTY Spot closed at: 14612.2 (0.456%)
Combined = July + August + September
Combined Fut Open Interest Change: 0.20%
Combined Fut Volume Change: -26.83%
Combined Fut Open Interest Analysis: Fresh Long
Rollover: 2% Previous 2%
MIDCPNIFTY JULY Future closed at: 14666.35 (0.511%)
July Fut Premium 54.15 (Increased by 8.3 points)
July Fut Open Interest Change: 0.21%
July Fut Volume Change: -27.75%
July Fut Open Interest Analysis: Fresh Long
MIDCPNIFTY AUGUST Future closed at: 14702.6 (0.449%)
Aug Fut Premium 90.4 (Decreased by -0.65 points)
Aug Fut Open Interest Change: 0.00%
Aug Fut Volume Change: -1.20%
Aug Fut Open Interest Analysis: Short Covering
MIDCPNIFTY Monthly Expiry (28/07/2026) Option Analysis
Put-Call Ratio (Open Interest): 0.856 (Increased from 0.835)
Put-Call Ratio (Volume): 0.919
Max Pain Level: 14500
Maximum CALL Open Interest: 15000
Maximum PUT Open Interest: 13500
Highest CALL Addition: 14900
Highest PUT Addition: 14600
SENSEX Monthly Expiry (30/07/2026) Future
SENSEX Spot closed at: 78,285.07 (0.670%)
SENSEX Monthly Future closed at: 78,583.50 (0.582%)
Premium: 298.43 (Decreased by -66.56 points)
Open Interest Change: 1.39%
Volume Change: -59.06%
Open Interest Analysis: Fresh Long
SENSEX Weekly Expiry (9/07/2026) Option Analysis
Put-Call Ratio (OI): 1.369 (Increased from 0.964)
Put-Call Ratio (Volume): 0.891
Max Pain Level: 78200
Maximum CALL OI: 80000
Maximum PUT OI: 76000
Highest CALL Addition: 80000
Highest PUT Addition: 78200
FII & DII Cash Market Activity
FIIs Net BUY: ₹ 243.03 Cr.
DIIs Net BUY: ₹ 3,791.42 Cr.
FII Derivatives Activity
| FII Trading Stats | 6.07.26 | 3.07.26 | 2.07.26 |
| FII Cash (Provisional Data) | 243.03 | 1,355.33 | -311.82 |
| Index Future Open Interest Long Ratio | 10.66% | 9.59% | 9.32% |
| Index Future Volume Long Ratio | 69.22% | 64.73% | 56.31% |
| Call Option Open Interest Long Ratio | 41.81% | 40.21% | 39.81% |
| Call Option Volume Long Ratio | 50.32% | 49.91% | 50.31% |
| Put Option Open Interest Long Ratio | 65.33% | 67.47% | 67.32% |
| Put Option Volume Long Ratio | 49.86% | 50.34% | 49.20% |
| Stock Future Open Interest Long Ratio | 54.01% | 53.84% | 53.78% |
| Stock Future Volume Long Ratio | 52.60% | 51.08% | 53.23% |
| Index Futures | Short Covering | Short Covering | Short Covering |
| Index Options | Fresh Long | Fresh Long | Fresh Short |
| Nifty Futures | Short Covering | Short Covering | Short Covering |
| Nifty Options | Fresh Long | Fresh Long | Fresh Short |
| BankNifty Futures | Fresh Long | Long Covering | Long Covering |
| BankNifty Options | Fresh Long | Fresh Short | Fresh Short |
| FinNifty Futures | Fresh Long | Fresh Short | Fresh Long |
| FinNifty Options | Fresh Long | Fresh Short | Fresh Short |
| MidcpNifty Futures | Fresh Short | Fresh Short | Fresh Short |
| MidcpNifty Options | Fresh Long | Fresh Short | Fresh Short |
| NiftyNxt50 Futures | Long Covering | Fresh Long | Fresh Short |
| NiftyNxt50 Options | Fresh Short | Fresh Short | Fresh Long |
| Stock Futures | Fresh Long | Fresh Long | Fresh Long |
| Stock Options | Fresh Short | Fresh Short | Fresh Long |
NSE & BSE Option market Trends : Options Insights
SENSEX weekly Expiry (9/07/2026)
The SENSEX index closed at 78285.07. The SENSEX weekly expiry for JULY 9, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.369 against previous 0.964. The 80000CE option holds the maximum open interest, followed by the 76000PE and 78000PE options. Market participants have shown increased interest with significant open interest additions in the 78200PE option, with open interest additions also seen in the 78300PE and 76000PE options. On the other hand, open interest reductions were prominent in the 78000CE, 77900CE, and 77800CE options. Trading volume was highest in the 78200CE option, followed by the 78000PE and 78300CE options, indicating active trading in these strikes.
| SENSEX | Weekly | Expiry: | 09-07-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 78285.07 | 1.369 | 0.964 | 0.891 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 1,17,62,140 | 1,09,51,860 | 8,10,280 |
| PUT: | 1,61,06,180 | 1,05,62,580 | 55,43,600 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 80000 | 11,32,160 | 4,31,900 | 80,57,620 |
| 79500 | 6,73,100 | 2,78,820 | 75,26,540 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 80000 | 11,32,160 | 4,31,900 | 80,57,620 |
| 78400 | 6,22,540 | 4,26,720 | 1,37,79,040 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 78000 | 5,52,240 | -7,71,600 | 1,53,55,200 |
| 77900 | 1,18,920 | -3,65,220 | 44,70,560 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 78200 | 5,26,440 | 1,64,140 | 1,99,55,640 |
| 78300 | 5,96,360 | 2,55,640 | 1,93,62,840 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 76000 | 11,06,700 | 4,43,660 | 58,51,880 |
| 78000 | 10,86,540 | 3,38,580 | 1,99,28,980 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 78200 | 6,68,800 | 5,90,120 | 1,79,53,780 |
| 78300 | 5,36,400 | 4,68,800 | 1,45,82,980 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 75500 | 4,01,560 | -1,29,920 | 37,09,660 |
| 73000 | 4,13,920 | -78,500 | 25,07,900 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 78000 | 10,86,540 | 3,38,580 | 1,99,28,980 |
| 78200 | 6,68,800 | 5,90,120 | 1,79,53,780 |
NIFTY Weekly Expiry (7/07/2026)
The NIFTY index closed at 24430.35. The NIFTY weekly expiry for JULY 7, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.497 against previous 0.997. The 24000PE option holds the maximum open interest, followed by the 24300PE and 24400PE options. Market participants have shown increased interest with significant open interest additions in the 24400PE option, with open interest additions also seen in the 24350PE and 24300PE options. On the other hand, open interest reductions were prominent in the 24300CE, 24350CE, and 25000CE options. Trading volume was highest in the 24400CE option, followed by the 24400PE and 24500CE options, indicating active trading in these strikes.
| NIFTY | Weekly | Expiry: | 07-07-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 24,430.35 | 1.497 | 0.997 | 0.937 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 14,07,03,355 | 17,34,74,795 | -3,27,71,440 |
| PUT: | 21,06,82,745 | 17,28,75,495 | 3,78,07,250 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 24,500 | 1,32,76,055 | 18,66,020 | 79,38,382 |
| 24,600 | 1,05,30,585 | 17,88,150 | 48,56,300 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 24,450 | 84,19,710 | 45,49,415 | 74,57,386 |
| 24,650 | 76,06,625 | 34,02,490 | 33,84,613 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 24,300 | 29,86,555 | -78,86,190 | 34,55,327 |
| 24,350 | 33,39,635 | -42,06,865 | 45,21,937 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,400 | 1,05,29,545 | -8,45,130 | 96,47,320 |
| 24,500 | 1,32,76,055 | 18,66,020 | 79,38,382 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 24,000 | 1,62,19,580 | 22,88,650 | 20,81,795 |
| 24,300 | 1,38,25,630 | 75,86,605 | 59,04,827 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 24,400 | 1,37,99,955 | 1,21,29,325 | 85,19,580 |
| 24,350 | 1,06,74,170 | 84,43,435 | 55,05,626 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 22,000 | 20,94,820 | -21,97,455 | 1,75,475 |
| 22,500 | 21,75,030 | -20,92,480 | 2,18,655 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,400 | 1,37,99,955 | 1,21,29,325 | 85,19,580 |
| 24,300 | 1,38,25,630 | 75,86,605 | 59,04,827 |
NIFTY Monthly Expiry (28/07/2026)
The NIFTY index closed at 24430.35. The NIFTY monthly expiry for JULY 28, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.161 against previous 1.136. The 24000PE option holds the maximum open interest, followed by the 25000CE and 24000CE options. Market participants have shown increased interest with significant open interest additions in the 24400PE option, with open interest additions also seen in the 24400CE and 24500PE options. On the other hand, open interest reductions were prominent in the 24000CE, 23000PE, and 26000CE options. Trading volume was highest in the 25000CE option, followed by the 24000PE and 24500CE options, indicating active trading in these strikes.
| NIFTY | Monthly | Expiry: | 28-07-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 24,430.35 | 1.161 | 1.136 | 1.150 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 4,21,42,815 | 4,29,12,935 | -7,70,120 |
| PUT: | 4,89,29,920 | 4,87,57,410 | 1,72,510 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 25,000 | 68,31,370 | 2,795 | 92,304 |
| 24,000 | 48,62,065 | -5,71,675 | 28,173 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 24,400 | 11,81,375 | 3,13,040 | 44,257 |
| 25,200 | 10,32,070 | 2,24,965 | 17,608 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 24,000 | 48,62,065 | -5,71,675 | 28,173 |
| 26,000 | 34,01,710 | -2,71,765 | 19,856 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 25,000 | 68,31,370 | 2,795 | 92,304 |
| 24,500 | 38,54,695 | -1,77,775 | 82,570 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 24,000 | 72,50,685 | 2,03,580 | 83,288 |
| 23,000 | 33,92,610 | -3,46,125 | 34,839 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 24,400 | 11,02,400 | 3,72,710 | 52,051 |
| 24,500 | 22,43,605 | 2,57,920 | 52,722 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 23,000 | 33,92,610 | -3,46,125 | 34,839 |
| 22,900 | 2,20,805 | -1,82,065 | 7,341 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 24,000 | 72,50,685 | 2,03,580 | 83,288 |
| 24,500 | 22,43,605 | 2,57,920 | 52,722 |
BANKNIFTY Monthly Expiry (28/07/2026)
The BANKNIFTY index closed at 58291.5. The BANKNIFTY monthly expiry for JULY 28, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.892 against previous 0.850. The 60000CE option holds the maximum open interest, followed by the 59000CE and 58000PE options. Market participants have shown increased interest with significant open interest additions in the 59000CE option, with open interest additions also seen in the 59000PE and 58300CE options. On the other hand, open interest reductions were prominent in the 58000CE, 60000PE, and 60000CE options. Trading volume was highest in the 59000CE option, followed by the 58000PE and 58500CE options, indicating active trading in these strikes.
| BANKNIFTY | Monthly | Expiry: | 28-07-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 58,291.50 | 0.892 | 0.850 | 0.850 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 1,24,73,640 | 1,22,58,630 | 2,15,010 |
| PUT: | 1,11,26,850 | 1,04,18,220 | 7,08,630 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 60,000 | 19,92,600 | -1,08,330 | 70,997 |
| 59,000 | 16,47,990 | 3,60,870 | 77,462 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 59,000 | 16,47,990 | 3,60,870 | 77,462 |
| 58,300 | 2,42,010 | 82,380 | 56,766 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 12,22,020 | -1,54,350 | 58,565 |
| 60,000 | 19,92,600 | -1,08,330 | 70,997 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 59,000 | 16,47,990 | 3,60,870 | 77,462 |
| 58,500 | 7,06,740 | 79,470 | 75,091 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 12,57,150 | 18,240 | 76,883 |
| 59,000 | 9,55,560 | 3,10,830 | 27,798 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 59,000 | 9,55,560 | 3,10,830 | 27,798 |
| 57,500 | 4,06,200 | 76,140 | 28,235 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 60,000 | 8,29,890 | -1,23,870 | 17,855 |
| 55,000 | 4,92,960 | -62,490 | 25,078 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 58,000 | 12,57,150 | 18,240 | 76,883 |
| 58,500 | 4,58,610 | 60,150 | 61,684 |
MIDCPNIFTY Monthly Expiry (28/07/2026)
The MIDCPNIFTY index closed at 14612.2. The MIDCPNIFTY monthly expiry for JULY 28, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.856 against previous 0.835. The 15000CE option holds the maximum open interest, followed by the 13500PE and 14500CE options. Market participants have shown increased interest with significant open interest additions in the 14900CE option, with open interest additions also seen in the 14600PE and 13600PE options. On the other hand, open interest reductions were prominent in the 63600CE, 63600CE, and 63600CE options. Trading volume was highest in the 14500PE option, followed by the 14600CE and 14900CE options, indicating active trading in these strikes.
| MIDCPNIFTY | Monthly | Expiry: | 28-07-2026 |
| Index Spot | PCR OI | Prev PCR OI | PCR VOL |
| 14,612.20 | 0.856 | 0.835 | 0.919 |
| Total Open Interest Change in all CALLs & PUTs: | |||
| Current | Prior | Net Ch | |
| CALL: | 45,47,520 | 42,15,240 | 3,32,280 |
| PUT: | 38,91,600 | 35,20,560 | 3,71,040 |
| Top CALL Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 15,000 | 7,77,360 | 53,400 | 7,973 |
| 14,500 | 5,63,520 | -68,400 | 5,818 |
| Top CALL Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 14,900 | 1,60,200 | 1,20,120 | 8,114 |
| 14,700 | 2,93,040 | 80,520 | 4,559 |
| Top CALL Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 16,000 | 2,21,400 | -90,120 | 2,028 |
| 14,500 | 5,63,520 | -68,400 | 5,818 |
| Top CALL Volume: | |||
| Strike | OI | OI Change | Volume |
| 14,600 | 3,52,800 | 32,040 | 8,234 |
| 14,900 | 1,60,200 | 1,20,120 | 8,114 |
| Top PUT Open Interest: | |||
| Strike | OI | OI Change | Volume |
| 13,500 | 6,17,160 | -45,840 | 6,168 |
| 14,500 | 5,50,920 | -51,240 | 8,339 |
| Top PUT Open Interest addition: | |||
| Strike | OI | OI Change | Volume |
| 14,600 | 3,27,960 | 1,17,720 | 6,703 |
| 13,600 | 1,63,080 | 1,10,400 | 2,323 |
| Top PUT Open Interest reduction: | |||
| Strike | OI | OI Change | Volume |
| 14,000 | 4,51,920 | -1,02,000 | 7,474 |
| 14,500 | 5,50,920 | -51,240 | 8,339 |
| Top PUT Volume: | |||
| Strike | OI | OI Change | Volume |
| 14,500 | 5,50,920 | -51,240 | 8,339 |
| 14,000 | 4,51,920 | -1,02,000 | 7,474 |
Conclusion: What the NSE & BSE Indices Futures and Options Open Interest Volume Analysis Tells Us
Open Interest Volume Analysis continues to favour the bulls, but the strength is being driven by short covering in NIFTY and fresh long positions in BANKNIFTY, instead of broad-based aggressive buying across all indices.
The steady improvement in Put-Call Ratios, balanced option writing around current prices, and Max Pain levels staying close to spot prices indicate that downside risk remains limited as long as key support levels hold.
However, falling futures premiums and lower trading volumes suggest that market participants are becoming more selective, increasing the possibility of range-bound or volatile price action near expiry.
Traders should closely monitor NIFTY 24,400, BANKNIFTY 58,300, MIDCPNIFTY 14,600, and SENSEX 78,200, as these have emerged as important support zones based on Open Interest Volume Analysis. A sustained move above the immediate resistance levels could trigger another round of short covering and extend the ongoing uptrend, while any decisive breakdown below these support levels may invite fresh selling pressure.
Until then, the derivatives data continues to support a buy-on-dips strategy, with disciplined risk management remaining the key to navigating the current market structure.
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