Nippon Life India Asset Management Limited Open Interest & PCR Analysis

OI Buildup Pattern

The open‑interest remains unchanged at 18,10,625 contracts while the spot index is flat at ₹1,159.9, indicating a neutral buildup where neither longs nor shorts are expanding as market participants hold their positions throughout the trading day. Call open‑interest stands at 10,41,875 contracts, matching the total figure, and the absence of a change in overall OI suggests that existing positions are being maintained without entry and suggest that the market is awaiting new catalysts before altering its stance. Since price movement is negligible and open‑interest is flat, the market exhibits a short‑covering‑short‑covering scenario, where any modest price uptick is accompanied by a reduction in short contracts.

Put-Call Ratio

The put‑call ratio sits at 0.575, well below the 1.0 threshold, reflecting a market bias toward call options relative to puts. Compared with yesterday’s 0.588, the PCR has slipped slightly, indicating a modest reduction in put demand or an increase in call demand over the last session.

Futures OI

Futures open‑interest registers zero change for this expiry, confirming that no net new positions have been added or removed in the futures segment. The flat futures OI, together with unchanged spot, points to a balanced stance among market participants, with neither aggressive long nor short positioning emerging.

Data Summary

Overall, the unchanged total open‑interest of 18,10,625 contracts and neutral PCR underscore a steady, non‑directional positioning environment for this expiry.