NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 3/09/2026

By decoding the institutional footprint through our daily Open Interest Volume Analysis, it becomes crystal clear that a major sector rotation and positional repositioning are currently underway.

While frontline heavyweights NIFTY and SENSEX remain firmly trapped in the bears’ grip with persistent “Fresh Shorts,” BANKNIFTY has staged a sharp rebound driven by aggressive “Short Covering” across both near and next-month contracts.

Concurrently, MIDCPNIFTY bulls fought back with genuine “Fresh Longs,” even as crashing weekly Put-Call Ratios across the board warn that broad-market hedging remains elevated. Let’s unpack the precise institutional shifts so you can navigate this polarized tape with confidence!

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 23873.45 (-0.171%)

Combined = September + October + November

Combined Fut Open Interest Change: 2.89%

Combined Fut Volume Change: -31.09%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 11% Previous 11%

NIFTY SEPTEMBER Future closed at: 24000.1 (-0.001%)

Sep Fut Premium 126.65 (Increased by 40.8 points)

Sep Fut Open Interest Change: 2.56%

Sep Fut Volume Change: -31.53%

Sep Fut Open Interest Analysis: Fresh Short

NIFTY OCTOBER Future closed at: 24103.6 (0.002%)

Oct Fut Premium 230.15 (Increased by 41.4 points)

Oct Fut Open Interest Change: 5.04%

Oct Fut Volume Change: -20.98%

Oct Fut Open Interest Analysis: Fresh Long

NIFTY Weekly Expiry (08/09/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.656 (Decreased from 0.729)

Put-Call Ratio (Volume): 1.015

Max Pain Level: 23950

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 23000

Highest CALL Addition: 24000

Highest PUT Addition: 22500

NIFTY Monthly Expiry (29/09/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.129 (Decreased from 1.148)

Put-Call Ratio (Volume): 0.947

Max Pain Level: 24300

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24000

Highest PUT Addition: 24000

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 57380.6 (0.365%)

Combined = September + October + November

Combined Fut Open Interest Change: -0.70%

Combined Fut Volume Change: 27.33%

Combined Fut Open Interest Analysis: Short Covering

Rollover: 9% Previous 9%

BANKNIFTY SEPTEMBER Future closed at: 57713.4 (0.381%)

Sep Fut Premium 332.8 (Increased by 10.4 points)

Sep Fut Open Interest Change: -0.7%

Sep Fut Volume Change: 32.4%

Sep Fut Open Interest Analysis: Short Covering

BANKNIFTY OCTOBER Future closed at: 58025.6 (0.363%)

Oct Fut Premium 645 (Increased by 1.4 points)

Oct Fut Open Interest Change: -1.94%

Oct Fut Volume Change: -28.09%

Oct Fut Open Interest Analysis: Short Covering

BANKNIFTY Monthly Expiry  (29/09/2026) Option Analysis

Put-Call Ratio (Open Interest): 1.041 (Decreased from 1.055)

Put-Call Ratio (Volume): 1.141

Max Pain Level: 57600

Maximum CALL Open Interest: 57500

Maximum PUT Open Interest: 57500

Highest CALL Addition: 56700

Highest PUT Addition: 58000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14760 (0.657%)

Combined = September + October + November

Combined Fut Open Interest Change: 3.40%

Combined Fut Volume Change: -32.78%

Combined Fut Open Interest Analysis: Fresh Long

Rollover: 4% Previous 4%

MIDCPNIFTY SEPTEMBER Future closed at: 14770.3 (0.457%)

Sep Fut Premium 10.3 (Decreased by -29.15 points)

Sep Fut Open Interest Change: 3.54%

Sep Fut Volume Change: -20.20%

Sep Fut Open Interest Analysis: Fresh Long

MIDCPNIFTY OCTOBER Future closed at: 14814.2 (0.432%)

Oct Fut Premium 54.2 (Decreased by -32.65 points)

Oct Fut Open Interest Change: 0.00%

Oct Fut Volume Change: -90.88%

Oct Fut Open Interest Analysis: Short Covering

MIDCPNIFTY Monthly Expiry (29/09/2026) Option Analysis

Put-Call Ratio (Open Interest): 0.975 (Decreased from 1.032)

Put-Call Ratio (Volume): 0.894

Max Pain Level: 14900

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 14000

Highest CALL Addition: 15000

Highest PUT Addition: 14800

SENSEX Monthly Expiry (24/09/2026) Future

SENSEX Spot closed at: 76,152.86 (-0.545%)

SENSEX Monthly Future closed at: 76,924.30 (-0.052%)

Premium: 771.44 (Increased by 377.24 points)

Open Interest Change: 11.90%

Volume Change: 80.30%

Open Interest Analysis: Fresh Short

SENSEX Weekly Expiry (10/09/2026) Option Analysis

Put-Call Ratio (OI): 0.866 (Decreased from 0.877)

Put-Call Ratio (Volume): 0.933

Max Pain Level: 76700

Maximum CALL OI: 77000

Maximum PUT OI: 74000

Highest CALL Addition: 77000

Highest PUT Addition: 74000

FII & DII Cash Market Activity

FIIs Net SELL: ₹ 2,345.87 Cr.

DIIs Net BUY: ₹ 4,977.46 Cr.

FII Derivatives Activity

FII Trading Stats	3.09.26	2.09.26	1.09.26
FII Cash (Provisional Data)	-2,345.87	6,688.37	1,143.38
Index Future Open Interest Long Ratio	11.09%	9.97%	9.11%
Index Future Volume Long Ratio	40.99%	40.57%	35.41%
Call Option Open Interest Long Ratio	39.02%	37.76%	38.27%
Call Option Volume Long Ratio	49.85%	49.30%	49.75%
Put Option Open Interest Long Ratio	72.38%	71.98%	76.57%
Put Option Volume Long Ratio	50.60%	49.47%	49.81%
Stock Future Open Interest Long Ratio	54.82%	54.68%	54.34%
Stock Future Volume Long Ratio	52.01%	54.01%	48.55%
Index Futures	Fresh Short	Fresh Short	Fresh Short
Index Options	Fresh Long	Fresh Short	Long Covering
Nifty Futures	Fresh Short	Fresh Short	Fresh Short
Nifty Options	Fresh Long	Fresh Short	Long Covering
BankNifty Futures	Fresh Long	Fresh Long	Fresh Short
BankNifty Options	Fresh Long	Fresh Long	Fresh Long
FinNifty Futures	Fresh Short	Short Covering	Fresh Short
FinNifty Options	Fresh Short	Fresh Short	Fresh Short
MidcpNifty Futures	Fresh Short	Fresh Short	Fresh Short
MidcpNifty Options	Fresh Long	Fresh Short	Long Covering
NiftyNxt50 Futures	Short Covering	Fresh Short	Short Covering
NiftyNxt50 Options	Fresh Long	Fresh Short	Fresh Long
Stock Futures	Short Covering	Short Covering	Long Covering
Stock Options	Fresh Long	Fresh Short	Fresh Short

NSE & BSE Option market Trends : Options Insights

SENSEX weekly Expiry (3/09/2026)

The SENSEX index closed at 76152.86. The SENSEX weekly expiry for SEPTEMBER 10, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.866 against previous 0.877. The 77000CE option holds the maximum open interest, followed by the 79000CE and 78000CE options. Market participants have shown increased interest with significant open interest additions in the 77000CE option, with open interest additions also seen in the 78500CE and 76800CE options. On the other hand, open interest reductions were prominent in the 76400PE, 80700CE, and 78200PE options. Trading volume was highest in the 77000CE option, followed by the 76500PE and 78000CE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	10-09-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
76152.86	0.866	0.877	0.933
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	51,45,440	20,84,440	30,61,000
PUT:	44,57,780	18,28,100	26,29,680
Top CALL Open Interest:
Strike	OI	OI Change	Volume
77000	5,51,140	3,39,400	27,53,320
79000	4,07,680	2,23,700	16,64,760
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
77000	5,51,140	3,39,400	27,53,320
78500	3,60,280	2,49,760	15,37,980
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
80700	2,400	-460	8,120
80900	2,040	-20	2,500
Top CALL Volume:
Strike	OI	OI Change	Volume
77000	5,51,140	3,39,400	27,53,320
78000	4,01,760	1,04,640	18,54,520
Top PUT Open Interest:
Strike	OI	OI Change	Volume
74000	3,77,280	2,28,920	12,70,160
76500	3,30,440	1,46,720	20,52,820
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
74000	3,77,280	2,28,920	12,70,160
74500	2,96,360	2,06,760	12,37,720
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
76400	59,100	-7,100	4,30,000
78200	1,280	-220	2,500
Top PUT Volume:
Strike	OI	OI Change	Volume
76500	3,30,440	1,46,720	20,52,820
77000	2,93,760	1,64,760	14,67,220

NIFTY Weekly Expiry (8/09/2026)

The NIFTY index closed at 23873.45. The NIFTY weekly expiry for SEPTEMBER 8, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.656 against previous 0.729. The 24000CE option holds the maximum open interest, followed by the 25000CE and 24100CE options. Market participants have shown increased interest with significant open interest additions in the 24000CE option, with open interest additions also seen in the 25000CE and 24100CE options. On the other hand, open interest reductions were prominent in the 23800PE, 22400PE, and 23850CE options. Trading volume was highest in the 24000CE option, followed by the 24000PE and 23900PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	08-09-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
23,873.45	0.656	0.729	1.015
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	20,31,93,575	14,66,02,560	5,65,91,015
PUT:	13,33,59,265	10,68,74,040	2,64,85,225
Top CALL Open Interest:
Strike	OI	OI Change	Volume
24,000	1,83,93,245	96,37,095	39,18,502
25,000	1,66,92,130	75,63,985	6,35,844
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
24,000	1,83,93,245	96,37,095	39,18,502
25,000	1,66,92,130	75,63,985	6,35,844
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
23,850	17,97,640	-3,55,225	4,32,606
23,500	3,24,350	-63,375	29,048
Top CALL Volume:
Strike	OI	OI Change	Volume
24,000	1,83,93,245	96,37,095	39,18,502
24,100	1,21,37,905	41,80,930	21,98,143
Top PUT Open Interest:
Strike	OI	OI Change	Volume
23,000	1,06,64,875	23,37,010	6,36,033
23,500	1,05,44,950	27,46,965	10,72,636
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
22,500	89,75,330	41,55,775	3,29,317
24,000	73,92,060	31,04,790	33,66,054
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,800	71,56,175	-6,70,085	20,54,631
22,400	19,07,555	-5,42,295	78,626
Top PUT Volume:
Strike	OI	OI Change	Volume
24,000	73,92,060	31,04,790	33,66,054
23,900	69,37,580	10,51,895	29,74,713

NIFTY Monthly Expiry (29/09/2026)

The NIFTY index closed at 23873.45. The NIFTY monthly expiry for SEPTEMBER 29, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.129 against previous 1.148. The 24000PE option holds the maximum open interest, followed by the 25000CE and 24500CE options. Market participants have shown increased interest with significant open interest additions in the 24000CE option, with open interest additions also seen in the 24000PE and 24100CE options. On the other hand, open interest reductions were prominent in the 24200PE, 24300PE, and 24500PE options. Trading volume was highest in the 24000PE option, followed by the 24000CE and 23500PE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	29-09-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
23,873.45	1.129	1.148	0.947
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	6,05,19,110	5,88,60,310	16,58,800
PUT:	6,83,06,910	6,75,77,990	7,28,920
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,000	67,82,555	45,045	39,338
24,500	59,15,195	53,625	52,660
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
24,000	54,40,500	7,76,360	95,577
24,100	14,40,855	2,35,690	32,904
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
26,000	39,98,010	-84,435	13,543
25,100	6,44,085	-51,870	6,680
Top CALL Volume:
Strike	OI	OI Change	Volume
24,000	54,40,500	7,76,360	95,577
24,500	59,15,195	53,625	52,660
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	72,01,520	6,68,250	1,04,600
23,000	57,20,050	38,910	48,337
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	72,01,520	6,68,250	1,04,600
24,100	12,91,940	2,04,815	30,461
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,200	26,36,140	-1,25,775	20,530
24,300	38,99,870	-1,24,085	9,533
Top PUT Volume:
Strike	OI	OI Change	Volume
24,000	72,01,520	6,68,250	1,04,600
23,500	51,04,385	96,395	54,811

BANKNIFTY Monthly Expiry (29/09/2026)

The BANKNIFTY index closed at 57380.6. The BANKNIFTY monthly expiry for SEPTEMBER 29, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.041 against previous 1.055. The 57500CE option holds the maximum open interest, followed by the 57500PE and 58000CE options. Market participants have shown increased interest with significant open interest additions in the 58000PE option, with open interest additions also seen in the 58300PE and 56700CE options. On the other hand, open interest reductions were prominent in the 57000PE, 55000PE, and 55500PE options. Trading volume was highest in the 57500PE option, followed by the 58000CE and 57500CE options, indicating active trading in these strikes.
 

BANKNIFTY	Monthly	Expiry:	29-09-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
57,380.60	1.041	1.055	1.141
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,27,65,030	1,28,86,650	-1,21,620
PUT:	1,32,84,840	1,35,98,580	-3,13,740
Top CALL Open Interest:
Strike	OI	OI Change	Volume
57,500	19,31,490	-22,710	83,642
58,000	13,58,310	14,700	97,000
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
56,700	76,350	50,520	4,314
58,500	6,69,960	48,060	44,479
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
57,000	3,08,940	-78,930	21,318
57,200	84,780	-64,890	7,179
Top CALL Volume:
Strike	OI	OI Change	Volume
58,000	13,58,310	14,700	97,000
57,500	19,31,490	-22,710	83,642
Top PUT Open Interest:
Strike	OI	OI Change	Volume
57,500	18,98,700	-34,920	1,06,218
58,000	10,87,500	1,34,400	64,273
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
58,000	10,87,500	1,34,400	64,273
58,300	1,18,230	64,410	7,440
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
57,000	8,00,700	-1,48,710	56,735
55,000	5,66,310	-1,25,490	36,728
Top PUT Volume:
Strike	OI	OI Change	Volume
57,500	18,98,700	-34,920	1,06,218
57,600	1,20,540	-26,940	65,374

MIDCPNIFTY Monthly Expiry (29/09/2026)

The MIDCPNIFTY index closed at 14760. The MIDCPNIFTY monthly expiry for SEPTEMBER 29, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.975 against previous 1.032. The 14000PE option holds the maximum open interest, followed by the 15000CE and 15500CE options. Market participants have shown increased interest with significant open interest additions in the 15000CE option, with open interest additions also seen in the 14800PE and 14600CE options. On the other hand, open interest reductions were prominent in the 73000CE, 69000PE, and 69000CE options. Trading volume was highest in the 15000CE option, followed by the 14700PE and 14000PE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	29-09-2026
Index Spot	PCR OI	Prev PCR OI	PCR VOL
14,760.00	0.975	1.032	0.894
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	44,88,120	42,22,680	2,65,440
PUT:	43,78,080	43,56,000	22,080
Top CALL Open Interest:
Strike	OI	OI Change	Volume
15,000	7,71,600	1,43,880	10,671
15,500	5,41,680	-21,720	2,553
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
15,000	7,71,600	1,43,880	10,671
14,600	1,58,400	43,920	2,581
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
15,500	5,41,680	-21,720	2,553
15,100	3,23,880	-9,120	2,354
Top CALL Volume:
Strike	OI	OI Change	Volume
15,000	7,71,600	1,43,880	10,671
14,700	1,58,160	43,200	6,666
Top PUT Open Interest:
Strike	OI	OI Change	Volume
14,000	12,61,200	-34,920	7,223
14,500	5,06,160	-59,400	6,102
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
14,800	2,41,560	46,920	4,138
14,725	34,680	29,520	1,647
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
14,500	5,06,160	-59,400	6,102
14,000	12,61,200	-34,920	7,223
Top PUT Volume:
Strike	OI	OI Change	Volume
14,700	2,85,000	23,400	8,032
14,000	12,61,200	-34,920	7,223

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

To conclude today’s Open Interest Volume Analysis, market participants are dealing with a classic split market—strength in financials and midcaps versus sustained distribution in headline benchmarks:

NIFTY (Sell on Rise into Resistance): Combined futures added 2.89% in Fresh Shorts for September, while the weekly option chain took a notably defensive turn. The weekly PCR plummeted from 0.729 to an oversold 0.656, with aggressive Call writers establishing their maximum concentration directly at 24000 (both Max Call OI and Highest Call Addition). Actionable Feedback: The 23950–24000 zone (confluence of Max Pain and heavy call supply) remains a formidable ceiling. Look to sell intraday pullbacks into 23950–24000 with a strict stop-loss above 24060, targeting 23800 and the deeper put support band at 23000.

BANKNIFTY (Bullish Bias / Buy on Dips): Banking outshined the broader market, evidenced by a 27.3% volume expansion driving Short Covering across September (-0.7% OI) and October (-1.94% OI) futures. Interestingly, option participants added heavy Put open interest up at 58000. Actionable Feedback: Shift to a buy-on-dips strategy. Use any corrective retest toward the 57400–57500 pivot as an entry zone with a stop-loss placed firmly below 57200, riding momentum toward the monthly Max Pain target of 57600 and the 58000 strike.

MIDCPNIFTY (Selective Long Momentum): After days of heavy distribution, midcaps registered fresh buying with a 3.40% addition in Fresh Longs in combined futures, pushing spot up 0.657%. Put writers were active, heavily building positions at 14800 to create an immediate cushion. Actionable Feedback: Maintain a positive intraday stance. Long setups can be initiated above 14770, aiming for the 14900 Max Pain magnet and 15000 hurdle. Place a tight trailing stop-loss below 14700.

SENSEX (Aggressive Bearish Build-Up): The index showed the most aggressive institutional selling of the day, marked by an 11.90% surge in Open Interest on an 80.3% volume explosion in monthly futures—a textbook confirmation of Fresh Shorts. In the weekly chain (10/09 expiry), massive Call addition anchored at 77000, while the primary Put base retreated all the way down to 74000. Actionable Feedback: Do not attempt to catch bottoms here. Fade any dead-cat bounce toward 76600–76700 (Max Pain zone), using a disciplined stop-loss at 77050 to target 75800 and lower.

Check Previous Day’s NSE & BSE Indices F&O Analysis

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