NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 4/08/2026

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Open Interest Volume Analysis

Hey traders, let’s unpack the F&O action for August 4, 2026. If you were watching the screens into the close, you couldn’t miss the glaring spot future closing discovery anomaly—NIFTY, BANKNIFTY, and MIDCPNIFTY futures all settled at unexpectedly deep, widening discounts compared to their spot prices. This kind of closing price distortion means looking at face-value prices right now is a trap, which is exactly why leaning on a rigorous Open Interest Volume Analysis is absolutely vital.

The Big Picture: The broader market clearly took a hit today, but our Open Interest Volume Analysis reveals the real story behind the red tickers: institutions are actively unwinding their current-month longs (Long Covering) and aggressively initiating fresh shorts in the September series.

The Rollover Clues: With early rollovers sitting at 10% for NIFTY and 8% for BANKNIFTY, the transition of this bearish pressure is already in motion. We have to look past the closing price anomalies and focus directly on where the big money is placing its bets.

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 24614.9 (-0.643%)

Combined = August + September + October

Combined Fut Open Interest Change: -0.20%

Combined Fut Volume Change: 23.74%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 10% Previous 10%

NIFTY AUGUST Future closed at: 24555.6 (-0.381%)

Aug Fut Discount -59.3 (Increased by 65.6 points)

Aug Fut Open Interest Change: -0.95%

Aug Fut Volume Change: 28.78%

Aug Fut Open Interest Analysis: Long Covering

NIFTY SEPTEMBER Future closed at: 24683.5 (-0.309%)

Sep Fut Discount 68.6 (Increased by 82.9 points)

Sep Fut Open Interest Change: 3.30%

Sep Fut Volume Change: -10.00%

Sep Fut Open Interest Analysis: Fresh Short

NIFTY Weekly Expiry (11/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.815 (Decreased from 1.215)

Put-Call Ratio (Volume): 0.919

Max Pain Level: 23500

Maximum CALL Open Interest: 24600

Maximum PUT Open Interest: 24000

Highest CALL Addition: 25600

Highest PUT Addition: 23500

NIFTY Monthly Expiry (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.100 (Decreased from 1.115)

Put-Call Ratio (Volume): 1.147

Max Pain Level: 24400

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24500

Highest PUT Addition: 23600

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 57907.2 (-0.585%)

Combined = August + September + October

Combined Fut Open Interest Change: 2.80%

Combined Fut Volume Change: -28.88%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 8% Previous 8%

BANKNIFTY AUGUST Future closed at: 57716.4 (-0.251%)

Aug Fut Discount -190.8 (Increased by 195.55 points)

Aug Fut Open Interest Change: 2.3%

Aug Fut Volume Change: -30.1%

Aug Fut Open Interest Analysis: Fresh Short

BANKNIFTY SEPTEMBER Future closed at: 58111.4 (-0.240%)

Sep Fut Discount 204.2 (Increased by 200.75 points)

Sep Fut Open Interest Change: 6.66%

Sep Fut Volume Change: -15.90%

Sep Fut Open Interest Analysis: Fresh Short

BANKNIFTY Monthly Expiry  (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.851 (Decreased from 0.887)

Put-Call Ratio (Volume): 0.906

Max Pain Level: 57800

Maximum CALL Open Interest: 58000

Maximum PUT Open Interest: 58000

Highest CALL Addition: 57500

Highest PUT Addition: 54400

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14871.5 (-0.179%)

Combined = August + September + October

Combined Fut Open Interest Change: 0.05%

Combined Fut Volume Change: -30.45%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 3% Previous 3%

MIDCPNIFTY AUGUST Future closed at: 14856.75 (-0.023%)

Aug Fut Discount -14.75 (Increased by 23.25 points)

Aug Fut Open Interest Change: -0.22%

Aug Fut Volume Change: -30.18%

Aug Fut Open Interest Analysis: Long Covering

MIDCPNIFTY SEPTEMBER Future closed at: 14904.85 (-0.026%)

Sep Fut Premium3 3.35 (Increased by 22.7 points)

Sep Fut Open Interest Change: 6.67%

Sep Fut Volume Change: -34.72%

Sep Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY Monthly Expiry (25/08/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.097 (Increased from 1.090)

Put-Call Ratio (Volume): 0.963

Max Pain Level: 14800

Maximum CALL Open Interest: 15500

Maximum PUT Open Interest: 13600

Highest CALL Addition: 15200

Highest PUT Addition: 14900

SENSEX Monthly Expiry (27/08/2026) Future

SENSEX Spot closed at: 78,428.95 (-0.267%)

SENSEX Monthly Future closed at: 78,652.85 (-0.359%)

Premium: 223.9 (Decreased by -73.57 points)

Open Interest Change: -6.44%

Volume Change: 3.53%

Open Interest Analysis: Long Covering

SENSEX Weekly Expiry (06/08/2026) Option Analysis

Put-Call Ratio (OI): 0.783 (Decreased from 1.307)

Put-Call Ratio (Volume): 1.205

Max Pain Level: 78400

Maximum CALL OI: 80000

Maximum PUT OI: 77000

Highest CALL Addition: 78500

Highest PUT Addition: 75000

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 2,446.47 Cr.

DIIs Net SELL: ₹ 936.14 Cr.

FII Derivatives Activity

FII Trading Stats4.08.263.08.2631.07.26
FII Cash (Provisional Data) 922.26277.48
    
Index Future Open Interest Long Ratio12.53%13.02%11.12%
Index Future Volume Long Ratio39.72%79.96%81.22%
Call Option Open Interest Long Ratio41.78%44.43%41.53%
Call Option Volume Long Ratio50.47%50.46%49.92%
Put Option Open Interest Long Ratio73.55%64.03%66.66%
Put Option Volume Long Ratio49.90%49.85%50.11%
Stock Future Open Interest Long Ratio54.94%55.07%55.06%
Stock Future Volume Long Ratio48.32%49.94%51.70%
    
Index FuturesFresh ShortShort CoveringShort Covering
Index OptionsShort CoveringFresh LongFresh Long
    
Nifty FuturesFresh ShortShort CoveringShort Covering
Nifty OptionsShort CoveringFresh LongFresh Long
    
BankNifty FuturesFresh ShortFresh LongFresh Long
BankNifty OptionsFresh ShortFresh LongFresh Long
    
FinNifty FuturesLong CoveringLong CoveringFresh Long
FinNifty OptionsFresh ShortFresh LongFresh Long
    
MidcpNifty FuturesFresh ShortShort CoveringFresh Short
MidcpNifty OptionsFresh ShortFresh LongFresh Short
    
NiftyNxt50 FuturesLong CoveringFresh ShortFresh Short
NiftyNxt50 OptionsFresh LongFresh LongFresh Long
    
Stock FuturesLong CoveringFresh ShortFresh Long
Stock OptionsFresh LongFresh ShortFresh Short

SENSEX weekly Expiry (06/08/2026)

The SENSEX index closed at 78428.95. The SENSEX weekly expiry for AUGUST 6, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.783 against previous 1.307. The 80000CE option holds the maximum open interest, followed by the 79000CE and 78500CE options. Market participants have shown increased interest with significant open interest additions in the 78500CE option, with open interest additions also seen in the 80500CE and 80000CE options. On the other hand, open interest reductions were prominent in the 70000PE, 78700PE, and 71000PE options. Trading volume was highest in the 78500PE option, followed by the 79000CE and 78000PE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:06-08-2026
Index SpotPCR OIPrev PCR OIPCR VOL
78428.950.7831.3071.205
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  2,37,25,480    1,12,57,000        1,24,68,480
PUT:  1,85,72,520    1,47,10,660           38,61,860
Top CALL Open Interest:
StrikeOIOI ChangeVolume
80000      17,71,760          7,88,740        1,14,84,640
79000      15,30,320          4,88,640        2,24,25,620
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
78500      13,40,200          8,86,700        2,01,12,900
80500      12,56,360          8,02,100           67,49,280
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
76500            54,760            -34,520                 61,080
83800            26,540            -31,120              2,07,120
Top CALL Volume:
StrikeOIOI ChangeVolume
79000      15,30,320          4,88,640        2,24,25,620
78500      13,40,200          8,86,700        2,01,12,900
Top PUT Open Interest:
StrikeOIOI ChangeVolume
77000      12,23,940          3,73,420        1,15,86,740
75000      11,27,640          4,93,280           47,55,660
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
75000      11,27,640          4,93,280           47,55,660
76700        5,01,040          3,87,760           29,79,720
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
70000        1,89,040        -2,51,340              7,47,780
78700        2,80,180        -1,81,580        1,86,08,640
Top PUT Volume:
StrikeOIOI ChangeVolume
78500        8,06,480              44,420        2,61,12,620
78000        8,30,320            -68,360        2,12,16,500

NIFTY Weekly Expiry (04/08/2026)

The NIFTY index closed at 24614.9. The NIFTY weekly expiry for AUGUST 11, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.815 against previous 1.215. The 24600CE option holds the maximum open interest, followed by the 25000CE and 25600CE options. Market participants have shown increased interest with significant open interest additions in the 25600CE option, with open interest additions also seen in the 24600CE and 24800CE options. On the other hand, open interest reductions were prominent in the 24200CE, 24350PE, and 22400PE options. Trading volume was highest in the 24600CE option, followed by the 24500PE and 24500CE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:11-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,614.90                0.815                  1.215               0.919
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    8,67,64,080      3,97,16,950   4,70,47,130
 PUT:    7,07,17,140      4,82,41,830   2,24,75,310
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,600       64,12,575         36,03,275         6,28,795
               25,000       62,18,095         26,75,335         3,81,663
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               25,600       55,50,090         50,38,800         1,91,499
               24,600       64,12,575         36,03,275         6,28,795
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               24,200       12,56,450          -1,78,230             34,294
               23,600             30,680                -8,450                   338
 Top CALL Volume:
 Strike OI OI Change Volume
               24,600       64,12,575         36,03,275         6,28,795
               24,500       47,22,380         28,50,445         5,09,304
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       53,01,530         21,39,605         3,23,689
               23,500       44,49,250         28,72,675         1,80,586
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,500       44,49,250         28,72,675         1,80,586
               24,000       53,01,530         21,39,605         3,23,689
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,350          8,42,855              -66,950         1,20,585
               22,400          2,50,120              -59,605             16,638
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,500       38,78,420         12,82,775         5,34,252
               24,600       29,97,475            4,93,350         4,10,146

NIFTY Monthly Expiry (25/08/2026)

The NIFTY index closed at 24614.9. The NIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.100 against previous 1.115. The 24000PE option holds the maximum open interest, followed by the 24000CE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 23600PE option, with open interest additions also seen in the 24500CE and 26000CE options. On the other hand, open interest reductions were prominent in the 24000PE, 24600PE, and 25500CE options. Trading volume was highest in the 24500PE option, followed by the 24500CE and 25000CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         24,614.90                1.100                  1.115               1.147
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    4,45,32,930      4,41,46,375         3,86,555
 PUT:    4,89,96,350      4,92,10,915       -2,14,565
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000       58,31,280              -80,665             13,266
               25,000       55,29,095            1,28,570             86,061
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,500       48,58,555            1,65,685         1,04,437
               26,000       31,73,300            1,30,520             21,862
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,500       28,33,545          -1,56,325             32,321
               24,300          9,85,790          -1,03,935               9,901
 Top CALL Volume:
 Strike OI OI Change Volume
               24,500       48,58,555            1,65,685         1,04,437
               25,000       55,29,095            1,28,570             86,061
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       80,01,890          -2,75,730             69,612
               24,500       42,65,105              -79,755         1,16,101
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,600       10,44,485            2,88,080             18,703
               23,000       31,89,875               99,515             28,547
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               24,000       80,01,890          -2,75,730             69,612
               24,600       12,09,455          -1,84,015             74,507
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,500       42,65,105              -79,755         1,16,101
               24,600       12,09,455          -1,84,015             74,507

BANKNIFTY Monthly Expiry (25/08/2026)

The BANKNIFTY index closed at 57907.2. The BANKNIFTY monthly expiry for AUGUST 25, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.851 against previous 0.887. The 58000CE option holds the maximum open interest, followed by the 58000PE and 59000CE options. Market participants have shown increased interest with significant open interest additions in the 57500CE option, with open interest additions also seen in the 58500CE and 58000CE options. On the other hand, open interest reductions were prominent in the 57500PE, 56500CE, and 57000CE options. Trading volume was highest in the 58000CE option, followed by the 57500PE and 57500CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         57,907.20                0.851                  0.887               0.906
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,26,26,310      1,17,25,440         9,00,870
 PUT:    1,07,41,230      1,04,04,360         3,36,870
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               58,000       23,14,350               96,210         1,07,491
               59,000       13,52,580               23,880             56,667
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               57,500          6,55,830            1,23,270             76,464
               58,500          5,71,350               96,630             41,916
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               56,500          1,38,870              -46,320               3,721
               57,000          6,58,770              -37,080             18,899
 Top CALL Volume:
 Strike OI OI Change Volume
               58,000       23,14,350               96,210         1,07,491
               57,500          6,55,830            1,23,270             76,464
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               58,000       15,68,940               17,040             62,933
               57,000          9,24,960                -9,390             48,737
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               54,400             79,470               62,910               7,409
               58,500          2,25,600               43,620               8,790
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               57,500          4,58,220              -63,360             81,709
               55,500          2,59,620              -23,610             17,164
 Top PUT Volume: 
 Strike OI OI Change Volume
               57,500          4,58,220              -63,360             81,709
               58,000       15,68,940               17,040             62,933

MIDCPNIFTY Monthly Expiry (25/08/2026)

The MIDCPNIFTY index closed at 14871.5. The MIDCPNIFTY monthly expiry for AUGUST 25, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 1.097 against previous 1.090. The 15500CE option holds the maximum open interest, followed by the 13600PE and 15000CE options. Market participants have shown increased interest with significant open interest additions in the 14900PE option, with open interest additions also seen in the 15200CE and 14800CE options. On the other hand, open interest reductions were prominent in the #N/A#N/A, #N/A#N/A, and #N/ACE options. Trading volume was highest in the 15000CE option, followed by the 14800PE and 14800CE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:25-08-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,871.50                1.097                  1.090               0.963
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       39,00,720         36,92,160         2,08,560
 PUT:       42,80,040         40,23,480         2,56,560
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,500          7,75,680                     600               5,861
               15,000          4,15,800                  3,120               8,570
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               15,200          2,63,520               45,360               3,373
               14,800          3,03,600               44,040               7,211
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               14,700          1,68,600              -13,680                   667
               15,400          3,01,920              -12,960               2,712
 Top CALL Volume:
 Strike OI OI Change Volume
               15,000          4,15,800                  3,120               8,570
               14,800          3,03,600               44,040               7,211
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               13,600          4,55,280                -1,920                   291
               14,000          3,79,800              -20,880               2,955
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               14,900          2,57,760               60,960               6,316
               14,800          3,37,320               42,120               8,243
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               14,600          2,62,800              -22,200               3,947
               14,000          3,79,800              -20,880               2,955
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,800          3,37,320               42,120               8,243
               14,900          2,57,760               60,960               6,316

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

Let’s wrap this up with clear reasoning and actionable feedback for your upcoming trading sessions based on today’s data:

Bears Control the Narrative: Across the board, our Open Interest Volume Analysis points to heavy distribution. NIFTY is shedding August longs and building fresh September shorts, while its Weekly PCR just took a dive from 1.215 down to 0.815. With maximum Call OI sitting heavy at 24,600 and a surprisingly low weekly Max Pain of 23,500, the upside is fiercely defended.

Bank Nifty is the Weakest Link: The financials are flashing red. BANKNIFTY saw a 2.80% combined OI spike confirming fresh short buildups. The August discount widened to a massive -190.8 points, and with the highest Put additions being dragged all the way down to the 54,400 level, options writers are clearly pricing in a deeper slide.

Mid-Caps Follow Suit: MIDCPNIFTY isn’t escaping the pain either. We’re seeing the exact same pattern: Long Covering in the near month and Fresh Shorts in September, with Max Pain parked lower at 14,800.

The SENSEX Trap: Do not get fooled by SENSEX futures still holding a 223.9-point premium. Our Open Interest Volume Analysis shows a 6.44% drop in OI on the SENSEX monthly expiry. That premium is being floated by long covering, not fresh bullish conviction.

Your Actionable Feedback: Fade the bounces. The deep future discounts caused by the recent spot future closing discovery anomaly might tempt you to “buy the dip” expecting price convergence, but the volume and OI data strictly say otherwise. Stick to “sell-on-rise” setups. For option sellers, deploying Call Credit Spreads (Bear Call Spreads) above the 24,600 resistance in NIFTY and the 58,000 level in BANKNIFTY offers the safest risk-to-reward ratio right now. Stay nimble, and respect the heavy short data!

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.


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