NSE & BSE Indices Futures and Options Open Interest Volume Analysis for 7/09/2026

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Open Interest Volume Analysis

Diving straight into our daily Open Interest Volume Analysis, the institutional footprint shows that the bears are completely back in the driver’s seat, wiping out any bullish optimism with aggressive precision.

We are seeing a massive wave of “Fresh Shorts” dominating NIFTY, SENSEX, and MIDCPNIFTY, accompanied by severe premium decay across the board.

Even more alarming is BANKNIFTY—while the September contract saw panicked bulls liquidating their positions (Long Covering on a massive 50% volume spike), bears aggressively initiated fresh shorts in the October series. Let’s break down exactly what this severe sentiment shift means for your trade setups this week!

NSE & BSE F&O Market Signals

NIFTY Future analysis

NIFTY Spot closed at: 23779.15 (-0.496%)

Combined = September + October + November

Combined Fut Open Interest Change: 4.96%

Combined Fut Volume Change: 36.50%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 12% Previous 12%

NIFTY SEPTEMBER Future closed at: 23867.7 (-0.750%)

Sep Fut Premium 88.55 (Decreased by -61.85 points)

Sep Fut Open Interest Change: 4.18%

Sep Fut Volume Change: 25.37%

Sep Fut Open Interest Analysis: Fresh Short

NIFTY OCTOBER Future closed at: 23975.8 (-0.719%)

Oct Fut Premium 196.65 (Decreased by -55.05 points)

Oct Fut Open Interest Change: 10.35%

Oct Fut Volume Change: 125.72%

Oct Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.556 (Decreased from 0.844)

Put-Call Ratio (Volume): 1.038

Max Pain Level: 23800

Maximum CALL Open Interest: 24000

Maximum PUT Open Interest: 23500

Highest CALL Addition: 23800

Highest PUT Addition: 23750

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

Put-Call Ratio (Open Interest): 1.066 (Decreased from 1.122)

Put-Call Ratio (Volume): 0.739

Max Pain Level: 24300

Maximum CALL Open Interest: 25000

Maximum PUT Open Interest: 24000

Highest CALL Addition: 24000

Highest PUT Addition: 23800

BANKNIFTY Future Analysis

BANKNIFTY Spot closed at: 57088.3 (-0.490%)

Combined = September + October + November

Combined Fut Open Interest Change: -1.77%

Combined Fut Volume Change: 50.55%

Combined Fut Open Interest Analysis: Long Covering

Rollover: 9% Previous 9%

BANKNIFTY SEPTEMBER Future closed at: 57384 (-0.676%)

Sep Fut Premium 295.7 (Decreased by -109.45 points)

Sep Fut Open Interest Change: -2.2%

Sep Fut Volume Change: 47.3%

Sep Fut Open Interest Analysis: Long Covering

BANKNIFTY OCTOBER Future closed at: 57701.4 (-0.670%)

Oct Fut Premium 613.1 (Decreased by -107.85 points)

Oct Fut Open Interest Change: 6.31%

Oct Fut Volume Change: 115.03%

Oct Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.972 (Decreased from 1.032)

Put-Call Ratio (Volume): 0.892

Max Pain Level: 57500

Maximum CALL Open Interest: 57500

Maximum PUT Open Interest: 57500

Highest CALL Addition: 57000

Highest PUT Addition: 56000

MIDCPNIFTY Future Analysis

MIDCPNIFTY Spot closed at: 14650.7 (-0.428%)

Combined = September + October + November

Combined Fut Open Interest Change: 1.67%

Combined Fut Volume Change: -5.02%

Combined Fut Open Interest Analysis: Fresh Short

Rollover: 4% Previous 4%

MIDCPNIFTY SEPTEMBER Future closed at: 14684 (-0.598%)

Sep Fut Premium 33.3 (Decreased by -25.35 points)

Sep Fut Open Interest Change: 1.66%

Sep Fut Volume Change: -4.06%

Sep Fut Open Interest Analysis: Fresh Short

MIDCPNIFTY OCTOBER Future closed at: 14733.3 (-0.555%)

Oct Fut Premium 82.6 (Decreased by -19.35 points)

Oct Fut Open Interest Change: 1.32%

Oct Fut Volume Change: -24.64%

Oct Fut Open Interest Analysis: Fresh Short

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

Put-Call Ratio (Open Interest): 0.918 (Decreased from 0.991)

Put-Call Ratio (Volume): 0.804

Max Pain Level: 14800

Maximum CALL Open Interest: 15000

Maximum PUT Open Interest: 14000

Highest CALL Addition: 14800

Highest PUT Addition: 14300

SENSEX Monthly Expiry (24/09/2026) Future

SENSEX Spot closed at: 76,132.81 (-0.500%)

SENSEX Monthly Future closed at: 76,568.15 (-0.634%)

Premium: 435.34 (Decreased by -105.88 points)

Open Interest Change: 5.03%

Volume Change: -20.34%

Open Interest Analysis: Fresh Short

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

Put-Call Ratio (OI): 0.622 (Decreased from 1.110)

Put-Call Ratio (Volume): 1.191

Max Pain Level: 76300

Maximum CALL OI: 76500

Maximum PUT OI: 76000

Highest CALL Addition: 76500

Highest PUT Addition: 76000

FII & DII Cash Market Activity

FIIs Net BUY: ₹ 280.13 Cr.

DIIs Net BUY: ₹ 566.76 Cr.

FII Derivatives Activity

FII Trading Stats7.09.264.09.263.09.26
FII Cash (Provisional Data)280.13-3,111.94-2,345.87
    
Index Future Open Interest Long Ratio10.93%11.11%11.09%
Index Future Volume Long Ratio28.38%47.47%40.99%
Call Option Open Interest Long Ratio42.13%39.36%39.02%
Call Option Volume Long Ratio50.04%50.08%49.85%
Put Option Open Interest Long Ratio70.00%68.62%72.38%
Put Option Volume Long Ratio50.33%49.40%50.60%
Stock Future Open Interest Long Ratio54.78%55.01%54.82%
Stock Future Volume Long Ratio46.07%52.22%52.01%
    
Index FuturesFresh ShortFresh ShortFresh Short
Index OptionsFresh LongFresh ShortFresh Long
    
Nifty FuturesFresh ShortFresh ShortFresh Short
Nifty OptionsFresh LongFresh ShortFresh Long
    
BankNifty FuturesFresh ShortLong CoveringFresh Long
BankNifty OptionsFresh LongFresh ShortFresh Long
    
FinNifty FuturesLong CoveringFresh ShortFresh Short
FinNifty OptionsFresh ShortShort CoveringFresh Short
    
MidcpNifty FuturesShort CoveringShort CoveringFresh Short
MidcpNifty OptionsFresh ShortFresh ShortFresh Long
    
NiftyNxt50 FuturesLong CoveringFresh ShortShort Covering
NiftyNxt50 OptionsFresh LongFresh LongFresh Long
    
Stock FuturesLong CoveringShort CoveringShort Covering
Stock OptionsFresh LongFresh LongFresh Long

SENSEX weekly Expiry (10/09/2026)

The SENSEX index closed at 76132.81. The SENSEX weekly expiry for SEPTEMBER 10, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.622 against previous 1.110. The 76500CE option holds the maximum open interest, followed by the 77000CE and 80000CE options. Market participants have shown increased interest with significant open interest additions in the 76500CE option, with open interest additions also seen in the 76300CE and 76400CE options. On the other hand, open interest reductions were prominent in the 76600PE, 76700PE, and 72000PE options. Trading volume was highest in the 76000PE option, followed by the 76200PE and 76100PE options, indicating active trading in these strikes.

SENSEXWeeklyExpiry:10-09-2026
Index SpotPCR OIPrev PCR OIPCR VOL
76132.810.6221.1101.191
Total Open Interest Change in all CALLs & PUTs:
 CurrentPriorNet Ch
CALL:  1,79,69,260        96,66,340           83,02,920
PUT:  1,11,68,660    1,07,33,380              4,35,280
Top CALL Open Interest:
StrikeOIOI ChangeVolume
76500      12,43,720          9,16,360        1,39,55,520
77000      12,09,420          4,72,520        1,05,53,940
Top CALL Open Interest addition:
StrikeOIOI ChangeVolume
76500      12,43,720          9,16,360        1,39,55,520
76300        6,92,760          6,55,180        1,06,33,420
Top CALL Open Interest reduction:
StrikeOIOI ChangeVolume
78300        1,39,620        -1,18,040           16,51,420
79200            75,820        -1,01,660              8,05,280
Top CALL Volume:
StrikeOIOI ChangeVolume
76500      12,43,720          9,16,360        1,39,55,520
76300        6,92,760          6,55,180        1,06,33,420
Top PUT Open Interest:
StrikeOIOI ChangeVolume
76000        7,41,640          2,70,820        2,26,65,820
75000        7,29,640              37,180           86,51,920
Top PUT Open Interest addition:
StrikeOIOI ChangeVolume
76000        7,41,640          2,70,820        2,26,65,820
76100        3,57,880          2,04,320        1,53,30,500
Top PUT Open Interest reduction:
StrikeOIOI ChangeVolume
76600        1,16,080        -2,73,920           36,95,040
76700        1,18,400        -2,48,960           22,20,620
Top PUT Volume:
StrikeOIOI ChangeVolume
76000        7,41,640          2,70,820        2,26,65,820
76200        3,46,140              19,800        1,63,69,980

NIFTY Weekly Expiry (8/09/2026)

The NIFTY index closed at 23779.15. The NIFTY weekly expiry for SEPTEMBER 8, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.556 against previous 0.844. The 24000CE option holds the maximum open interest, followed by the 23800CE and 23900CE options. Market participants have shown increased interest with significant open interest additions in the 23800CE option, with open interest additions also seen in the 23900CE and 23850CE options. On the other hand, open interest reductions were prominent in the 23900PE, 23950PE, and 23000PE options. Trading volume was highest in the 23800PE option, followed by the 23750PE and 23800CE options, indicating active trading in these strikes.

NIFTYWeekly Expiry:08-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,779.15                0.556                  0.844               1.038
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL: 25,83,23,000   19,24,05,915   6,59,17,085
 PUT: 14,35,30,400   16,24,53,590 -1,89,23,190
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               24,000    2,11,48,140         59,70,250       44,02,666
               23,800    1,71,14,955      1,51,17,635       75,44,220
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               23,800    1,71,14,955      1,51,17,635       75,44,220
               23,900    1,69,98,085      1,19,70,335       57,36,012
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               25,500       39,63,245        -18,42,035         2,74,255
               25,400       11,35,680        -14,39,100         1,26,720
 Top CALL Volume:
 Strike OI OI Change Volume
               23,800    1,71,14,955      1,51,17,635       75,44,220
               23,900    1,69,98,085      1,19,70,335       57,36,012
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               23,500    1,10,61,570            6,65,730       23,08,377
               23,600    1,00,09,155         17,35,175       37,98,587
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,750       72,26,180         29,65,820       82,48,854
               23,650       76,62,005         27,02,830       36,24,938
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,900       35,34,765        -75,84,070       41,12,508
               23,950       17,47,265        -40,90,775       12,53,564
 Top PUT Volume: 
 Strike OI OI Change Volume
               23,800       93,51,225        -16,70,435   1,07,72,492
               23,750       72,26,180         29,65,820       82,48,854

NIFTY Monthly Expiry (29/09/2026)

The NIFTY index closed at 23779.15. The NIFTY monthly expiry for SEPTEMBER 29, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 1.066 against previous 1.122. 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 24000CE option, with open interest additions also seen in the 23800CE and 23900CE options. On the other hand, open interest reductions were prominent in the 26000CE, 23300PE, and 23500PE options. Trading volume was highest in the 24000CE option, followed by the 24000PE and 24500CE options, indicating active trading in these strikes.

NIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         23,779.15                1.066                  1.122               0.739
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    6,47,84,605      6,07,14,565       40,70,040
 PUT:    6,90,51,665      6,80,93,925         9,57,740
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               25,000       69,55,845              -73,320             50,165
               24,000       66,47,615         15,27,695         1,13,137
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               24,000       66,47,615         15,27,695         1,13,137
               23,800       14,37,215            8,83,025             51,906
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               26,000       40,19,030          -4,12,010             24,237
               25,400          3,68,485          -1,91,035               9,139
 Top CALL Volume:
 Strike OI OI Change Volume
               24,000       66,47,615         15,27,695         1,13,137
               24,500       62,02,040            4,12,750             78,328
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               24,000       73,43,775            4,64,165             83,009
               23,000       58,25,895               50,790             49,770
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               23,800       26,03,575            5,13,240             59,224
               24,000       73,43,775            4,64,165             83,009
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               23,300       19,20,815          -2,24,250             29,373
               23,500       47,32,650          -2,22,755             62,504
 Top PUT Volume: 
 Strike OI OI Change Volume
               24,000       73,43,775            4,64,165             83,009
               23,500       47,32,650          -2,22,755             62,504

BANKNIFTY Monthly Expiry (29/09/2026)

The BANKNIFTY index closed at 57088.3. The BANKNIFTY monthly expiry for SEPTEMBER 29, 2026 has revealed key trends in open interest. The current Put/Call Ratio is at 0.972 against previous 1.032. 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 57000CE option, with open interest additions also seen in the 59000CE and 57200CE options. On the other hand, open interest reductions were prominent in the 58000PE, 56700CE, and 57400PE options. Trading volume was highest in the 57000PE option, followed by the 57500CE and 58000CE options, indicating active trading in these strikes.

BANKNIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         57,088.30                0.972                  1.032               0.892
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:    1,38,23,940      1,29,20,850         9,03,090
 PUT:    1,34,35,590      1,33,29,480         1,06,110
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               57,500       20,22,780               74,130             89,630
               58,000       13,58,220               32,340             70,756
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               57,000          4,90,200            1,88,220             60,314
               59,000       10,24,950            1,09,530             52,305
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               56,700             41,340              -58,680               5,284
               59,800          1,58,730              -31,890             10,197
 Top CALL Volume:
 Strike OI OI Change Volume
               57,500       20,22,780               74,130             89,630
               58,000       13,58,220               32,340             70,756
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               57,500       19,33,950                -8,790             56,988
               58,000          9,56,130              -90,150             24,653
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               56,000          7,72,260               65,520             34,713
               55,000          6,12,360               52,800             23,397
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               58,000          9,56,130              -90,150             24,653
               57,400          2,41,260              -57,570             32,032
 Top PUT Volume: 
 Strike OI OI Change Volume
               57,000          8,61,420               31,440             99,113
               57,500       19,33,950                -8,790             56,988

MIDCPNIFTY Monthly Expiry (29/09/2026)

The MIDCPNIFTY index closed at 14650.7. The MIDCPNIFTY monthly expiry for SEPTEMBER 29, 2026, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.918 against previous 0.991. The 14000PE option holds the maximum open interest, followed by the 15000CE and 14500PE options. Market participants have shown increased interest with significant open interest additions in the 14800CE option, with open interest additions also seen in the 14700CE and 15300CE options. On the other hand, open interest reductions were prominent in the 80700CE, 80700CE, and 80700PE options. Trading volume was highest in the 14700PE option, followed by the 14800CE and 14700CE options, indicating active trading in these strikes.

MIDCPNIFTY Monthly Expiry:29-09-2026
 Index Spot PCR OI Prev PCR OI PCR VOL
         14,650.70                0.918                  0.991               0.804
 Total Open Interest Change in all CALLs & PUTs:
  Current Prior Net Ch
 CALL:       51,38,040         46,21,200         5,16,840
 PUT:       47,15,400         45,80,760         1,34,640
 Top CALL Open Interest: 
 Strike OI OI Change Volume
               15,000          6,56,400               55,440               7,547
               15,500          5,06,520              -14,160               3,791
 Top CALL Open Interest addition: 
 Strike OI OI Change Volume
               14,800          4,55,760               93,600               8,378
               14,700          2,51,160               90,360               8,332
 Top CALL Open Interest reduction: 
 Strike OI OI Change Volume
               15,900          2,01,960              -37,800                   732
               15,500          5,06,520              -14,160               3,791
 Top CALL Volume:
 Strike OI OI Change Volume
               14,800          4,55,760               93,600               8,378
               14,700          2,51,160               90,360               8,332
 Top PUT Open Interest: 
 Strike OI OI Change Volume
               14,000       12,71,280              -20,640               6,364
               14,500          5,34,480               16,560               6,165
 Top PUT Open Interest addition: 
 Strike OI OI Change Volume
               14,300             89,160               45,720               2,196
               14,700          2,77,080               39,600             10,744
 Top PUT Open Interest reduction: 
 Strike OI OI Change Volume
               14,800          3,10,200              -28,560               3,231
               14,000       12,71,280              -20,640               6,364
 Top PUT Volume: 
 Strike OI OI Change Volume
               14,700          2,77,080               39,600             10,744
               14,000       12,71,280              -20,640               6,364

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

To wrap up today’s Open Interest Volume Analysis, the derivative data leaves zero room for ambiguity: this is a “Sell on Rise” market, and trying to catch the bottom right now is a dangerous game. Here is your clear-cut, index-by-index actionable plan:

NIFTY (Aggressive Sell on Pullbacks): The data is heavily skewed to the downside. Combined futures saw a 4.96% spike in Fresh Shorts on a 36.5% volume surge, while the weekly PCR completely collapsed from 0.844 to an oversold 0.556. Actionable Feedback: Call writers have aggressively stepped down to the 23800 strike (Highest Call Addition), making it an immediate brick wall. Use any dead-cat bounce toward 23800-23850 to initiate short positions, keeping a strict stop-loss above 23900. Your downside target is the massive Put OI base at 23500.

BANKNIFTY (Bulls Have Surrendered): The institutional capitulation is visible here. Near-month longs were violently unwound, while October futures saw a 115% volume explosion confirming Fresh Shorts. Option writers are suffocating the index, heavily adding calls right at the 57000 level. Actionable Feedback: The trend is broken. Look to sell near 57000–57100. If spot sustains below 57000, expect a fast and brutal slide toward the highest put addition zone of 56000. Maintain a strict stop-loss at 57300.

MIDCPNIFTY (Capped Upside, Steady Bleed): We are seeing consistent Fresh Shorts with shrinking premiums. Call writers are comfortably sitting at 14800, which aligns perfectly with the Max Pain level. Actionable Feedback: Avoid long breakouts entirely. Play a defined-risk short strategy by fading rallies near 14750, targeting the lower put-writing support at 14300. Keep your stop-loss tight at 14825.

SENSEX (Total Sentiment Breakdown): The most shocking data point today is the SENSEX weekly PCR, which crashed from a bullish 1.110 straight down to 0.622. Combined with 5% Fresh Shorts in futures and a 105-point premium crush, the bulls have completely evacuated. Actionable Feedback: Do not attempt to bottom-fish. The 76500 level is now heavily defended by Call writers. Sell any minor uptick toward 76300 (Max Pain), using 76600 as a strict stop-loss, and ride the momentum downward toward 75800.

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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