NSE & BSE F&O Analysis | Global Markets Tumble Amid Rising Tariff Fears | 4.04.25

In today’s NSE & BSE F&O Analysis, Indian markets witnessed a sharp sell-off as global sentiment turned distinctly risk-off after the recent Liberation Day shock and the U.S. administration’s tariff announcements. The S&P 500 and NASDAQ posted steep declines, sending ripple effects across global indices, including India. Domestic benchmarks like NIFTY, BANKNIFTY, and MIDCPNIFTY mirrored this bearishness, with falling premiums and sharply declining Put-Call Ratios. Traders are now staring at critical support levels amid intensifying FII outflows and surging volatility, signaling a potential for deeper corrections.

NSE & BSE F&O Analysis | Short Built-up with Volume Spike

BSE F&O Analysis

SENSEX Weekly Expiry (8.04.25) Future

SENSEX Spot closed at: 75,364.69 (-1.22%)
SENSEX Weekly Future closed at: 75,325.40 (-1.28%)
Discount: -39.29 (Decreased by -46.03 points)

SENSEX Weekly Expiry (8/04/2025) Option Analysis

Put-Call Ratio (PCR): 0.673 (Decreased from 0.990)
Max Pain Level: 75500
Maximum CALL OI: 77000
Maximum PUT OI: 73000
Highest CALL Addition: 77000
Highest PUT Addition: 68000

NSE F&O Analysis

NIFTY April Future

NIFTY Spot closed at: 22,904.45 (-1.49%)
NIFTY April Future closed at: 22,958.15 (-1.58%)
Premium: 53.7 (Decreased by -22.15 points)

NIFTY Weekly Expiry (9/04/2025) Option Analysis

Put-Call Ratio (PCR): 0.606 (Decreased from 1.076)
Max Pain Level: 23000
Maximum CALL OI: 25400
Maximum PUT OI: 22000
Highest CALL Addition: 23000
Highest PUT Addition: 20650

NIFTY Monthly Expiry (24/04/2025) Option Analysis

Put-Call Ratio (PCR): 0.974 (Decreased from 1.102)
Max Pain Level: 23400
Maximum CALL OI: 23500
Maximum PUT OI: 23500
Highest CALL Addition: 23800
Highest PUT Addition: 22500

BANKNIFTY April Future

BANKNIFTY Spot closed at: 51,502.70 (-0.18%)
BANKNIFTY April Future closed at: 51,593.55 (-0.40%)
Premium: 90.85 (Decreased by -110.3 points)

BANKNIFTY Monthly Expiry (24/04/2025) Option Analysis

Put-Call Ratio (PCR): 0.990 (Decreased from 1.056)
Max Pain Level: 51500
Maximum CALL OI: 53000
Maximum PUT OI: 50000
Highest CALL Addition: 59000
Highest PUT Addition: 50000

FINNIFTY April Future

FINNIFTY Spot closed at: 24,774.30 (0.20%)
FINNIFTY April Future closed at: 24,820.50 (0.05%)
Premium: 46.2 (Decreased by -36.85 points)

FINNIFTY Monthly Expiry (24/04/2025) Option Analysis

Put-Call Ratio (PCR): 0.809 (Increased from 0.590)
Max Pain Level: 24900
Maximum CALL OI: 25500
Maximum PUT OI: 24000
Highest CALL Addition: 24800
Highest PUT Addition: 24000

MIDCPNIFTY April Future

MIDCPNIFTY Spot closed at: 11,181.80 (-2.89%)
MIDCPNIFTY April Future closed at: 11,193.10 (-2.97%)
Premium: 11.3 (Decreased by -10.05 points)

MIDCPNIFTY Monthly Expiry (24/04/2025) Option Analysis

Put-Call Ratio (PCR): 0.737 (Decreased from 0.847)
Max Pain Level: 11450
Maximum CALL OI: 12000
Maximum PUT OI: 11000
Highest CALL Addition: 12500
Highest PUT Addition: 10000

FII & DII Cash Market Activity

FIIs Net Sell: ₹3,483.98 Cr
DIIs Net Sell: ₹1,720.32 Cr

FII Derivatives Activity

FII Trading Stats	4.04.25	3.04.25	2.04.25
FII Cash (Provisional Data)	-3,483.98	-2,806.00	-1,538.88
Index Future Open Interest Long Ratio	29.01%	30.13%	32.37%
Index Future Volume Long Ratio	39.50%	36.63%	57.60%
Call Option Open Interest Long Ratio	59.57%	63.24%	50.69%
Call Option Volume Long Ratio	50.41%	49.90%	49.69%
Put Option Open Interest Long Ratio	64.20%	62.13%	53.05%
Put Option Volume Long Ratio	50.87%	49.75%	49.39%
Stock Future Open Interest Long Ratio	63.47%	64.32%	64.70%
Stock Future Volume Long Ratio	45.66%	46.92%	55.76%
Index Futures	Fresh Short	Fresh Short	Fresh Long
Index Options	Fresh Long	Long Covering	Fresh Short
Nifty Futures	Fresh Short	Fresh Short	Fresh Long
Nifty Options	Fresh Long	Long Covering	Fresh Short
BankNifty Futures	Fresh Short	Fresh Long	Fresh Long
BankNifty Options	Fresh Short	Fresh Long	Fresh Short
FinNifty Futures	Fresh Long	Fresh Long	Fresh Long
FinNifty Options	Fresh Short	Fresh Short	Fresh Short
MidcpNifty Futures	Fresh Short	Fresh Short	Fresh Long
MidcpNifty Options	Fresh Short	Fresh Long	Fresh Long
NiftyNxt50 Futures	Fresh Short	Fresh Long	Fresh Long
NiftyNxt50 Options	Fresh Long	Fresh Long	Fresh Long
Stock Futures	Long Covering	Long Covering	Fresh Long
Stock Options	Fresh Short	Fresh Short	Fresh Short

NSE & BSE F&O Analysis | Options Insights

SENSEX Weekly Expiry (8.04.2025)

The SENSEX index closed at 75364.69. The SENSEX weekly expiry for April 8, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.673 against previous 0.990. The 77000CE option holds the maximum open interest, followed by the 78000CE and 79000CE options. Market participants have shown increased interest with significant open interest additions in the 77000CE option, with open interest additions also seen in the 76000CE and 78000CE options. On the other hand, open interest reductions were prominent in the 76000PE, 76300PE, and 80500CE options. Trading volume was highest in the 75000PE option, followed by the 76000CE and 75500PE options, indicating active trading in these strikes.

SENSEX	Weekly	Expiry:	08-04-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
75364.69	0.673	0.990	1.059
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,94,23,400	1,09,77,880	84,45,520
PUT:	1,30,67,280	1,08,70,789	21,96,491
Top CALL Open Interest:
Strike	OI	OI Change	Volume
77000	12,95,900	8,98,480	2,19,86,580
78000	12,75,960	6,50,220	1,22,78,400
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
77000	12,95,900	8,98,480	2,19,86,580
76000	9,21,680	7,54,920	2,99,59,040
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
80500	3,21,300	-2,05,280	15,58,780
81000	3,36,080	-1,78,900	16,36,180
Top CALL Volume:
Strike	OI	OI Change	Volume
76000	9,21,680	7,54,920	2,99,59,040
75500	5,56,360	5,36,900	2,20,57,180
Top PUT Open Interest:
Strike	OI	OI Change	Volume
73000	9,95,160	2,38,300	1,20,89,340
72000	7,68,560	52,620	73,17,840
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
68000	7,32,800	2,94,080	28,83,760
75300	3,76,100	2,82,760	1,73,40,640
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
76000	3,05,400	-2,72,680	96,11,680
76300	58,720	-2,12,920	12,50,200
Top PUT Volume:
Strike	OI	OI Change	Volume
75000	5,82,160	84,100	3,09,45,800
75500	3,85,320	1,08,460	2,85,39,240

NIFTY Weekly Expiry (9.04.2025)

The NIFTY index closed at 22904.45. The NIFTY weekly expiry for April 9, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.606 against previous 1.076. The 25400CE option holds the maximum open interest, followed by the 23200CE and 24000CE options. Market participants have shown increased interest with significant open interest additions in the 23000CE option, with open interest additions also seen in the 23200CE and 25400CE options. On the other hand, open interest reductions were prominent in the 23200PE, 23000PE, and 23300PE options. Trading volume was highest in the 23000PE option, followed by the 23000CE and 22900PE options, indicating active trading in these strikes.

NIFTY	Weekly	Expiry:	09-04-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
22,904.45	0.606	1.076	0.943
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	18,86,62,050	7,76,94,150	11,09,67,900
PUT:	11,42,37,075	8,36,22,675	3,06,14,400
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,400	1,44,50,625	80,67,900	6,84,391
23,200	1,05,30,750	83,29,800	20,27,906
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
23,000	98,48,250	84,65,775	28,84,118
23,200	1,05,30,750	83,29,800	20,27,906
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
24,250	8,33,475	-3,65,625	1,23,467
25,200	19,82,325	-1,97,250	1,46,493
Top CALL Volume:
Strike	OI	OI Change	Volume
23,000	98,48,250	84,65,775	28,84,118
23,100	70,38,375	63,80,175	22,82,650
Top PUT Open Interest:
Strike	OI	OI Change	Volume
22,000	83,22,000	24,57,150	6,57,487
22,500	77,07,900	29,97,075	17,21,877
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
20,650	74,18,475	37,77,525	5,26,863
22,500	77,07,900	29,97,075	17,21,877
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,200	17,18,175	-22,16,025	5,58,982
23,000	45,50,925	-19,77,300	31,70,223
Top PUT Volume:
Strike	OI	OI Change	Volume
23,000	45,50,925	-19,77,300	31,70,223
22,900	44,18,025	19,73,925	27,58,521

NIFTY Monthly Expiry (24.04.2025)

The NIFTY index closed at 22904.45. The NIFTY monthly expiry for April 24, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.974 against previous 1.102. The 23500CE option holds the maximum open interest, followed by the 24000CE and 23500PE options. Market participants have shown increased interest with significant open interest additions in the 23800CE option, with open interest additions also seen in the 23700CE and 24000CE options. On the other hand, open interest reductions were prominent in the 23200PE, 23600CE, and 23300PE options. Trading volume was highest in the 23000PE option, followed by the 23500CE and 24000CE options, indicating active trading in these strikes.

NIFTY	Monthly	Expiry:	24-04-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
22,904.45	0.974	1.102	0.772
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	5,01,50,325	4,45,40,550	56,09,775
PUT:	4,88,23,650	4,90,97,175	-2,73,525
Top CALL Open Interest:
Strike	OI	OI Change	Volume
23,500	49,82,175	4,77,150	1,19,080
24,000	44,31,825	7,97,325	1,15,611
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
23,800	29,47,950	9,72,675	75,013
23,700	24,28,650	8,09,925	61,946
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
23,600	16,97,925	-4,06,875	59,761
25,300	1,06,500	-2,81,700	9,470
Top CALL Volume:
Strike	OI	OI Change	Volume
23,500	49,82,175	4,77,150	1,19,080
24,000	44,31,825	7,97,325	1,15,611
Top PUT Open Interest:
Strike	OI	OI Change	Volume
23,500	43,32,375	-2,97,075	40,769
22,500	39,24,750	3,47,550	90,995
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
22,500	39,24,750	3,47,550	90,995
21,100	2,23,275	1,83,825	7,170
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
23,200	13,47,000	-4,22,925	50,633
23,300	17,72,850	-3,58,575	33,911
Top PUT Volume:
Strike	OI	OI Change	Volume
23,000	37,56,825	8,250	1,47,430
22,500	39,24,750	3,47,550	90,995

BANKNIFTY Monthly Expiry (24.04.2025)

The BANKNIFTY index closed at 51502.7. The BANKNIFTY monthly expiry for April 24, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.990 against previous 1.056. The 50000PE option holds the maximum open interest, followed by the 53000CE and 52000CE options. Market participants have shown increased interest with significant open interest additions in the 59000CE option, with open interest additions also seen in the 53500CE and 50000PE options. On the other hand, open interest reductions were prominent in the 53000PE, 51300PE, and 47500PE options. Trading volume was highest in the 51500PE option, followed by the 52000CE and 51000PE options, indicating active trading in these strikes.

BANKNIFTY	Monthly	Expiry:	24-04-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
51,502.70	0.990	1.056	1.028
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	1,85,64,030	1,74,72,420	10,91,610
PUT:	1,83,86,610	1,84,50,669	-64,059
Top CALL Open Interest:
Strike	OI	OI Change	Volume
53,000	14,78,100	6,150	1,75,449
52,000	12,02,910	53,190	2,59,360
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
59,000	10,43,670	2,71,830	85,007
53,500	7,70,670	1,79,760	84,164
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
54,000	9,65,880	-41,430	1,51,697
51,000	7,25,850	-40,740	40,828
Top CALL Volume:
Strike	OI	OI Change	Volume
52,000	12,02,910	53,190	2,59,360
51,500	9,52,020	1,00,650	2,09,083
Top PUT Open Interest:
Strike	OI	OI Change	Volume
50,000	15,26,430	1,74,060	1,64,264
49,000	11,63,760	-17,520	93,076
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
50,000	15,26,430	1,74,060	1,64,264
41,000	3,01,740	70,830	11,967
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
53,000	6,15,570	-2,76,330	26,262
51,300	1,85,700	-1,34,940	80,585
Top PUT Volume:
Strike	OI	OI Change	Volume
51,500	8,60,940	-53,280	3,36,455
51,000	11,19,030	-25,470	2,37,453

FINNIFTY Monthly Expiry (24.04.2025)

The FINNIFTY index closed at 24774.3. The FINNIFTY monthly expiry for April 24, 2025, has revealed key trends in open interest. The current Put/Call Ratio is at 0.809 against previous 0.590. The 24000PE option holds the maximum open interest, followed by the 25500CE and 25000CE options. Market participants have shown increased interest with significant open interest additions in the 24000PE option, with open interest additions also seen in the 24800PE and 24850PE options. On the other hand, open interest reductions were prominent in the 25000CE, 28000CE, and 24700CE options. Trading volume was highest in the 25000CE option, followed by the 24800PE and 24800CE options, indicating active trading in these strikes.

FINNIFTY	Monthly	Expiry:	24-04-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
24,774.30	0.809	0.590	1.143
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	11,71,495	11,58,495	13,000
PUT:	9,48,090	6,83,345	2,64,745
Top CALL Open Interest:
Strike	OI	OI Change	Volume
25,500	1,35,590	3,315	5,308
25,000	1,23,045	-25,870	11,695
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
24,800	40,950	13,845	6,594
24,900	29,445	12,220	3,320
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
25,000	1,23,045	-25,870	11,695
28,000	1,15,570	-14,755	1,538
Top CALL Volume:
Strike	OI	OI Change	Volume
25,000	1,23,045	-25,870	11,695
24,800	40,950	13,845	6,594
Top PUT Open Interest:
Strike	OI	OI Change	Volume
24,000	1,42,610	67,665	5,912
24,500	73,840	22,685	6,002
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
24,000	1,42,610	67,665	5,912
24,800	58,435	34,580	10,519
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
24,700	40,560	-3,055	5,570
23,500	37,830	-2,080	1,872
Top PUT Volume:
Strike	OI	OI Change	Volume
24,800	58,435	34,580	10,519
24,500	73,840	22,685	6,002

MIDCPNIFTY Monthly Expiry (24.04.2025)

The MIDCPNIFTY index closed at 11181.8. The MIDCPNIFTY monthly expiry for April 24, 2025 has revealed key trends in open interest. The current Put/Call Ratio is at 0.737 against previous 0.847. The 12000CE option holds the maximum open interest, followed by the 12500CE and 11600CE options. Market participants have shown increased interest with significant open interest additions in the 12500CE option, with open interest additions also seen in the 10000PE and 11200CE options. On the other hand, open interest reductions were prominent in the 63000PE, 63700CE, and 63300PE options. Trading volume was highest in the 11000PE option, followed by the 11200PE and 11500CE options, indicating active trading in these strikes.

MIDCPNIFTY	Monthly	Expiry:	24-04-2025
Index Spot	PCR OI	Prev PCR OI	PCR VOL
11,181.80	0.737	0.847	0.945
Total Open Interest Change in all CALLs & PUTs:
	Current	Prior	Net Ch
CALL:	64,61,760	46,58,640	18,03,120
PUT:	47,63,760	39,47,280	8,16,480
Top CALL Open Interest:
Strike	OI	OI Change	Volume
12,000	7,31,160	1,72,680	22,542
12,500	6,33,000	2,35,800	11,348
Top CALL Open Interest addition:
Strike	OI	OI Change	Volume
12,500	6,33,000	2,35,800	11,348
11,200	2,10,720	2,04,120	18,996
Top CALL Open Interest reduction:
Strike	OI	OI Change	Volume
13,000	2,55,480	-1,43,400	5,311
11,775	11,880	-8,400	695
Top CALL Volume:
Strike	OI	OI Change	Volume
11,500	5,43,120	1,32,960	25,479
12,000	7,31,160	1,72,680	22,542
Top PUT Open Interest:
Strike	OI	OI Change	Volume
11,000	4,78,920	-1,08,600	27,488
10,000	4,54,200	2,31,120	8,106
Top PUT Open Interest addition:
Strike	OI	OI Change	Volume
10,000	4,54,200	2,31,120	8,106
10,800	2,14,080	1,43,400	9,784
Top PUT Open Interest reduction:
Strike	OI	OI Change	Volume
11,500	3,47,880	-1,33,920	10,424
11,000	4,78,920	-1,08,600	27,488
Top PUT Volume:
Strike	OI	OI Change	Volume
11,000	4,78,920	-1,08,600	27,488
11,200	2,35,440	1,20,960	26,943

Conclusion: Bearish Undercurrent Deepens, Key Levels Breached

The broader market outlook remains heavily bearish. Falling PCRs across all major indices, aggressive short build-up in NIFTY Futures, and sharp unwinding by both FIIs and DIIs indicate rising pessimism. The monthly PUT Open Interest concentration at 22,500 and 21,100 signals that market participants are positioning for deeper cuts. With global markets reeling from the tariff shock and sentiment turning risk-averse, any recovery attempts are likely to face strong resistance. Traders are advised to maintain a defensive stance and closely monitor downside support levels.

Check Previous Day’s Nifty Indices F&O Analysis

FII / FPI trading activity in Capital Market Segment

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