What is Put-Call Ratio (PCR) and how do I interpret it?

PCR is the ratio of total Put Open Interest to Call Open Interest. High PCR (>1.2) indicates bullish sentiment as more puts provide support. Low PCR (<0.8) indicates bearish sentiment as more calls provide resistance. Neutral PCR (0.8-1.2) shows balanced market sentiment.

What is COI PCR and how is it different from regular PCR?

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change. Unlike regular PCR which uses total accumulated OI, COI PCR uses only today's changes, making it more responsive and valuable for intraday traders.

What is COI Strength and how do I use it?

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|). This normalized indicator measures directional bias on a scale from -1 to +1. Values > 0.3 indicate bullish sentiment, < -0.3 indicate bearish sentiment, and -0.3 to 0.3 indicate neutral activity.

How often does PCR data update?

PCR data updates based on the selected interval. 1 Minute interval provides real-time intraday tracking with updates every minute during market hours. 1 Day interval shows end-of-day PCR values for historical analysis.

What do negative PCR values mean?

Negative PCR occurs when Call OI Change is negative while Put OI is also negative, or vice versa. Common scenarios include: PE > 0 and CE 0 (strong bearish), or both negative (neutral, low conviction). Use COI Strength for clearer signals in these cases.

How do I use PCR with price action?

Combine PCR with price for better signals. Use divergence trading when price and PCR move opposite. Look for confirmation when price and PCR align. Watch for extreme COI Strength values at support/resistance for reversal signals. Monitor sudden COI Strength shifts as they often precede intraday trend changes.

BANKNIFTY

Q: What is COI PCR and how is it different from regular PCR?

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change. Unlike regular PCR which uses total accumulated OI, COI PCR uses only today's changes, making it more responsive and valuable for intraday traders.

Q: What is COI Strength and how do I use it?

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|). This normalized indicator measures directional bias on a scale from -1 to +1. Values > 0.3 indicate bullish sentiment, < -0.3 indicate bearish sentiment, and -0.3 to 0.3 indicate neutral activity.

Q: How often does PCR data update?

PCR data updates based on the selected interval. 1 Minute interval provides real-time intraday tracking with updates every minute during market hours. 1 Day interval shows end-of-day PCR values for historical analysis.

Q: What do negative PCR values mean?

Negative PCR occurs when Call OI Change is negative while Put OI is also negative, or vice versa. Common scenarios include: PE > 0 and CE 0 (strong bearish), or both negative (neutral, low conviction). Use COI Strength for clearer signals in these cases.

Nifty Bank

58994 -40.60 (-0.07%)

L: 58930.65 H: 59121.05

Put-Call Ratio - BANKNIFTY

17 Dec 2025 09:29 AM IST

Live

Expiry

Put OI

4,21,053

Call OI

5,58,296

PCR

0.75

Put OI Chg

12,196

Call OI Chg

11,112

COI PCR

1.10

COI Strength

0.05

Interval

On 9:30 BANKNIFTY was trading at 59028.85 with pcr value 0.75

Put-Call-Ratio Table

PCR Table Expiry

Note:- click on symbol to see more detailed view

	PCR OI			COI PCR
Symbol	Put	Call	Ratio	Put	Call	Ratio
360ONE	2,715	3,879	0.70	701	620	1.13
ABB	5,373	6,353	0.85	21	25	0.84
ABCAPITAL	4,771	7,673	0.62	8	-100	-0.08
ADANIENSOL	3,353	5,795	0.58	-2	32	-0.06
ADANIENT	26,211	44,123	0.59	14	203	0.07
ADANIGREEN	10,303	19,618	0.53	12	82	0.15
ADANIPORTS	9,178	18,153	0.51	25	70	0.36
ALKEM	1,258	1,699	0.74	26	25	1.04
AMBER	7,024	10,280	0.68	11	22	0.50
AMBUJACEM	8,536	10,306	0.83	4	8	0.50
ANGELONE	7,593	18,620	0.41	12	122	0.10
APLAPOLLO	2,438	2,707	0.90	9	3	3.00
APOLLOHOSP	7,884	16,241	0.49	39	50	0.78
ASHOKLEY	12,336	12,909	0.96	30	134	0.22
ASIANPAINT	17,281	34,584	0.50	-18	418	-0.04
ASTRAL	4,394	8,059	0.55	-8	120	-0.07
AUBANK	6,318	7,449	0.85	10	-56	-0.18
AUROPHARMA	4,469	10,329	0.43	17	-34	-0.50
AXISBANK	26,213	58,086	0.45	-487	-1,633	0.30
BAJAJ-AUTO	14,879	27,486	0.54	114	150	0.76
BAJAJFINSV	14,398	20,565	0.70	26	57	0.46
BAJFINANCE	23,400	40,387	0.58	16	-308	-0.05
BANDHANBNK	7,644	11,410	0.67	0	0	0.00
BANKBARODA	12,069	16,640	0.73	-200	-121	1.65
BANKINDIA	3,316	4,751	0.70	5	51	0.10
BDL	8,292	20,984	0.40	6	260	0.02
BEL	27,140	62,068	0.44	54	227	0.24
BHARATFORG	4,211	6,928	0.61	7	31	0.23
BHARTIARTL	19,354	39,648	0.49	-76	-410	0.19
BHEL	8,873	18,002	0.49	-4	54	-0.07
BIOCON	6,447	13,012	0.50	34	21	1.62
BLUESTARCO	1,374	1,763	0.78	-5	7	-0.71
BOSCHLTD	1,621	3,182	0.51	8	-5	-1.60
BPCL	5,401	8,892	0.61	-43	-216	0.20
BRITANNIA	6,479	9,122	0.71	78	58	1.34
BSE	18,169	37,838	0.48	-32	258	-0.12
CAMS	4,334	7,338	0.59	-4	1	-4.00
CANBK	12,003	15,678	0.77	-1	-378	0.00
CDSL	9,610	22,086	0.44	51	115	0.44
CGPOWER	4,695	9,367	0.50	69	363	0.19
CHOLAFIN	3,606	5,506	0.65	33	-113	-0.29
CIPLA	10,131	15,536	0.65	46	68	0.68
COALINDIA	12,565	12,918	0.97	26	-8	-3.25
COFORGE	8,689	20,095	0.43	5	-53	-0.09
COLPAL	6,590	10,915	0.60	84	222	0.38
CONCOR	7,647	10,179	0.75	11	19	0.58
CROMPTON	6,349	11,797	0.54	3	26	0.12
CUMMINSIND	3,579	4,516	0.79	9	33	0.27
CYIENT	1,952	2,940	0.66	17	0	0.00
DABUR	5,901	11,251	0.52	7	82	0.09
DALBHARAT	2,878	3,832	0.75	-2	-3	0.67
DELHIVERY	3,913	6,432	0.61	-1	55	-0.02
DIVISLAB	6,588	9,238	0.71	4	153	0.03
DIXON	35,821	63,773	0.56	196	1,252	0.16
DLF	16,590	26,248	0.63	37	250	0.15
DMART	7,236	15,507	0.47	60	-76	-0.79
DRREDDY	5,375	10,833	0.50	40	5	8.00
EICHERMOT	11,124	15,834	0.70	318	-190	-1.67
ETERNAL	19,265	35,853	0.54	-12	-332	0.04
EXIDEIND	4,060	5,807	0.70	16	53	0.30
FEDERALBNK	8,091	8,088	1.00	-22	74	-0.30
FORTIS	3,533	8,681	0.41	-1	-24	0.04
GAIL	13,528	20,653	0.66	-9	-43	0.21
GLENMARK	8,098	11,074	0.73	66	170	0.39
GMRAIRPORT	10,825	19,526	0.55	26	27	0.96
GODREJCP	3,942	5,866	0.67	19	-25	-0.76
GODREJPROP	7,042	11,811	0.60	30	95	0.32
GRASIM	9,531	8,756	1.09	22	124	0.18
HAL	27,983	56,902	0.49	81	193	0.42
HAVELLS	3,560	4,871	0.73	17	84	0.20
HCLTECH	11,522	20,094	0.57	-3	-65	0.05
HDFCAMC	4,674	6,485	0.72	41	37	1.11
HDFCBANK	42,363	64,936	0.65	-271	1,741	-0.16
HDFCLIFE	7,562	19,402	0.39	-65	310	-0.21
HEROMOTOCO	12,946	18,482	0.70	12	65	0.18
HFCL	4,904	11,993	0.41	-10	-9	1.11
HINDALCO	15,640	21,070	0.74	148	-39	-3.79
HINDPETRO	3,889	6,755	0.58	23	-122	-0.19
HINDUNILVR	9,884	20,036	0.49	-10	-40	0.25
HINDZINC	25,557	37,104	0.69	1,465	3,456	0.42
HUDCO	6,345	14,307	0.44	-14	10	-1.40
ICICIBANK	32,254	52,010	0.62	196	1,692	0.12
ICICIGI	3,063	5,488	0.56	0	1	0.00
ICICIPRULI	2,313	4,833	0.48	-2	27	-0.07
IDEA	15,311	26,476	0.58	94	-40	-2.35
IDFCFIRSTB	9,729	12,627	0.77	79	53	1.49
IEX	8,427	11,623	0.73	16	46	0.35
IIFL	2,593	4,220	0.61	-8	-84	0.10
INDHOTEL	5,799	9,408	0.62	21	215	0.09
INDIANB	4,792	12,003	0.40	-39	-11	3.55
INDIGO	51,787	1,09,478	0.47	181	444	0.41
INDUSINDBK	13,475	18,396	0.73	635	-43	-14.77
INDUSTOWER	8,727	15,499	0.56	9	39	0.23
INFY	38,059	61,700	0.62	86	-20	-4.30
INOXWIND	6,994	13,921	0.50	-2	-35	0.06
IOC	7,450	12,172	0.61	220	-440	-0.50
IRCTC	7,357	11,106	0.66	54	56	0.96
IREDA	4,937	10,317	0.48	1	17	0.06
IRFC	4,609	9,504	0.48	50	-11	-4.55
ITC	21,886	34,243	0.64	-1	54	-0.02
JINDALSTEL	5,530	8,977	0.62	24	66	0.36
JIOFIN	18,070	25,872	0.70	54	55	0.98
JSWENERGY	10,164	15,167	0.67	-2	30	-0.07
JSWSTEEL	12,747	28,252	0.45	-17	-211	0.08
JUBLFOOD	5,854	9,854	0.59	79	113	0.70
KALYANKJIL	4,788	8,813	0.54	16	34	0.47
KAYNES	30,934	77,532	0.40	380	1,325	0.29
KEI	2,296	3,673	0.63	136	124	1.10
KFINTECH	4,245	6,808	0.62	3	70	0.04
KOTAKBANK	18,749	21,237	0.88	95	61	1.56
KPITTECH	3,633	6,433	0.56	4	28	0.14
LAURUSLABS	5,235	9,689	0.54	60	-229	-0.26
LICHSGFIN	7,627	9,982	0.76	7	-143	-0.05
LICI	6,232	11,940	0.52	-3	-20	0.15
LODHA	4,472	11,360	0.39	99	907	0.11
LT	18,460	32,276	0.57	-35	87	-0.40
LTF	5,051	7,725	0.65	75	-70	-1.07
LTIM	4,503	5,643	0.80	25	17	1.47
LUPIN	5,205	6,735	0.77	111	-89	-1.25
M&M	17,361	32,625	0.53	53	-35	-1.51
MANAPPURAM	3,710	5,373	0.69	1	-27	-0.04
MANKIND	2,397	4,991	0.48	0	-8	0.00
MARICO	3,085	5,188	0.59	1	24	0.04
MARUTI	30,295	30,933	0.98	661	37	17.86
MAXHEALTH	5,082	10,244	0.50	34	110	0.31
MAZDOCK	10,106	22,761	0.44	-8	140	-0.06
MCX	15,218	23,034	0.66	160	166	0.96
MFSL	2,431	4,488	0.54	-1	5	-0.20
MOTHERSON	7,543	9,277	0.81	29	37	0.78
MPHASIS	3,477	4,718	0.74	8	32	0.25
MUTHOOTFIN	6,451	11,896	0.54	72	119	0.61
NATIONALUM	6,765	7,810	0.87	65	-2	-32.50
NAUKRI	6,035	7,028	0.86	40	-47	-0.85
NBCC	3,183	7,281	0.44	-12	291	-0.04
NCC	3,826	9,093	0.42	33	37	0.89
NESTLEIND	4,439	13,887	0.32	19	43	0.44
NHPC	3,215	7,110	0.45	12	51	0.24
NMDC	9,911	13,394	0.74	3	130	0.02
NTPC	13,465	22,741	0.59	-320	-105	3.06
NUVAMA	2,205	4,142	0.53	61	-7	-8.71
NYKAA	2,590	6,958	0.37	6	-22	-0.27
OBEROIRLTY	3,504	5,708	0.61	3	-60	-0.05
OFSS	6,915	9,499	0.73	-62	138	-0.45
OIL	2,495	4,578	0.54	14	11	1.27
ONGC	10,803	26,286	0.41	54	189	0.29
PAGEIND	3,410	7,917	0.43	50	0	0.00
PATANJALI	3,894	8,782	0.44	8	63	0.13
PAYTM	7,714	12,920	0.60	-7	37	-0.19
PERSISTENT	6,445	10,693	0.60	93	-24	-3.88
PETRONET	8,905	8,703	1.02	-135	-131	1.03
PFC	20,928	36,658	0.57	20	-116	-0.17
PGEL	7,844	12,262	0.64	58	117	0.50
PHOENIXLTD	1,663	3,406	0.49	3	-24	-0.13
PIDILITIND	1,933	2,568	0.75	-19	46	-0.41
PIIND	3,577	5,750	0.62	-18	36	-0.50
PNB	11,606	22,451	0.52	23	-118	-0.20
PNBHOUSING	7,292	11,992	0.61	-15	25	-0.60
POLICYBZR	6,537	9,047	0.72	428	396	1.08
POLYCAB	5,204	7,090	0.73	1,065	969	1.10
POWERGRID	10,681	17,713	0.60	-8	15	-0.53
POWERINDIA	4,000	10,891	0.37	-58	-33	1.76
PPLPHARMA	2,874	7,195	0.40	2	-29	-0.07
PRESTIGE	2,783	4,247	0.66	2	22	0.09
RBLBANK	4,819	7,717	0.62	33	29	1.14
RECLTD	21,828	35,352	0.62	70	135	0.52
RELIANCE	49,395	98,145	0.50	307	284	1.08
RVNL	6,384	12,658	0.50	18	138	0.13
SAIL	5,845	10,661	0.55	-96	-1	96.00
SAMMAANCAP	6,695	12,449	0.54	24	105	0.23
SBICARD	4,971	7,478	0.66	38	-7	-5.43
SBILIFE	6,336	11,938	0.53	34	-120	-0.28
SBIN	40,604	64,390	0.63	615	-3,070	-0.20
SHREECEM	2,338	5,856	0.40	1	14	0.07
SHRIRAMFIN	12,907	20,695	0.62	266	-434	-0.61
SIEMENS	8,928	18,016	0.50	23	139	0.17
SOLARINDS	3,848	10,659	0.36	-48	57	-0.84
SONACOMS	2,588	5,572	0.46	-8	-1	8.00
SRF	7,161	9,370	0.76	45	0	0.00
SUNPHARMA	6,492	20,198	0.32	-399	-953	0.42
SUPREMEIND	4,718	7,707	0.61	-12	-163	0.07
SUZLON	10,635	23,703	0.45	2	10	0.20
SYNGENE	1,443	2,854	0.51	13	15	0.87
TATACONSUM	5,160	10,211	0.51	26	101	0.26
TATAELXSI	5,489	15,091	0.36	26	37	0.70
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,475	26,808	0.73	108	37	2.92
TATASTEEL	15,532	26,330	0.59	47	9	5.22
TATATECH	4,616	7,531	0.61	7	15	0.47
TCS	38,009	48,907	0.78	352	-3	-117.33
TECHM	7,414	9,605	0.77	32	29	1.10
TIINDIA	4,699	7,749	0.61	-2	5	-0.40
TITAGARH	2,609	5,225	0.50	-2	59	-0.03
TITAN	14,823	21,208	0.70	159	-62	-2.56
TMPV	40,243	87,240	0.46	-21	-22	0.95
TORNTPHARM	1,157	2,684	0.43	21	34	0.62
TORNTPOWER	2,025	3,296	0.61	2	57	0.04
TRENT	26,692	50,095	0.53	44	144	0.31
TVSMOTOR	9,605	9,466	1.01	138	-86	-1.60
ULTRACEMCO	11,117	18,913	0.59	-14	46	-0.30
UNIONBANK	5,556	8,231	0.68	-6	-50	0.12
UNITDSPR	6,527	8,804	0.74	-1	119	-0.01
UNOMINDA	2,833	4,971	0.57	1	-27	-0.04
UPL	4,626	6,816	0.68	8	71	0.11
VBL	10,033	23,945	0.42	-106	300	-0.35
VEDL	40,023	41,378	0.97	1,484	544	2.73
VOLTAS	6,488	7,233	0.90	27	30	0.90
WIPRO	10,889	13,794	0.79	96	26	3.69
YESBANK	6,429	13,242	0.49	6	-64	-0.09
ZYDUSLIFE	3,340	4,902	0.68	-20	-40	0.50

Understanding PCR & COI Metrics

PCR (Put-Call Ratio)

PCR = Put OI / Call OI

> 1.2

Bullish

More puts than calls, potential support

0.8 - 1.2

Neutral

Balanced market sentiment

< 0.8

Bearish

More calls than puts, potential resistance

COI Strength

COI Strength = (PE COI - CE COI) / (|PE| + |CE|)

> 0.3

Bullish

Strong put buildup dominance

-0.3 to 0.3

Neutral

Balanced intraday activity

< -0.3

Bearish

Strong call buildup dominance

Frequently Asked Questions

PCR is the ratio of total Put Open Interest to Call Open Interest. It's a contrarian indicator of market sentiment:

High PCR (>1.2): More traders are holding puts, expecting a decline. However, this often acts as support (bullish) as market makers hedge by buying the underlying.
Low PCR (<0.8): More traders are holding calls, expecting a rise. This often acts as resistance (bearish) as market makers hedge by selling the underlying.
Neutral PCR (0.8-1.2): Balanced sentiment with no strong directional bias.

Remember: PCR is contrarian - extreme readings often signal reversals rather than continuation.

COI PCR (Change in OI PCR) measures the ratio of intraday Put OI change to Call OI change, making it more responsive than total OI PCR.

Key Differences:

Regular PCR: Uses total accumulated Open Interest. Shows overall market positioning but changes slowly.
COI PCR: Uses only today's OI changes. Captures fresh positioning and provides timely intraday signals.

Use Case: COI PCR helps identify intraday sentiment shifts before they reflect in total PCR, making it valuable for day traders and short-term positions.

COI Strength = (PE COI - CE COI) / (|PE COI| + |CE COI|)

This normalized indicator measures the directional bias of intraday Open Interest changes on a scale from -1 to +1:

> 0.3 (Bullish): Put side dominance - fresh put writing or buying suggests bullish positioning.
-0.3 to 0.3 (Neutral): Balanced activity on both sides - no clear directional conviction.
< -0.3 (Bearish): Call side dominance - fresh call writing or buying suggests bearish positioning.

Advantages over PCR:

Normalized scale (-1 to +1) makes comparison across symbols easier
Not affected by extreme ratios when one side is very small
Clearly shows which side has stronger intraday momentum

PCR data updates based on the selected interval:

1 Minute Interval: Updates every minute during market hours, providing real-time intraday tracking.
1 Day Interval: Shows end-of-day PCR values for historical analysis and trend identification.

Note: OI data comes from the exchange and may have a slight delay. Premium users get access to faster refresh rates and more granular intervals.

Negative PCR occurs when Call OI Change is negative (unwinding) while Put OI Change is also negative, or vice versa.

Common Scenarios:

PE > 0, CE < 0: Puts building, Calls unwinding → Strong bullish signal
PE < 0, CE > 0: Puts unwinding, Calls building → Strong bearish signal
Both negative: Both sides unwinding → Low conviction, neutral to ranging market

Tip: When PCR becomes negative or very large, use COI Strength instead - it handles these edge cases better and provides clearer directional signals.

Best Practices for Combining PCR with Price:

Divergence Trading: If price is falling but COI PCR shows put buildup (>1.2), it may signal a bounce. If price is rising but COI PCR shows call buildup (<0.8), it may signal resistance.
Confirmation: Use PCR to confirm price trends. Rising prices with increasing calls or falling prices with increasing puts suggests trend continuation.
Extremes: Very high COI Strength (>0.6 or <-0.6) combined with price at support/resistance can signal strong reversals.
Intraday Pivots: Watch for sudden COI Strength shifts (e.g., from +0.5 to -0.3) as they often precede intraday trend changes.

Remember: PCR is a sentiment indicator, not a timing tool. Always combine with technical analysis, support/resistance levels, and risk management.

Related Pages for BANKNIFTY

BANKNIFTY

360ONE

ABB

ABCAPITAL

ADANIENSOL

ADANIENT

ADANIGREEN

ADANIPORTS

ALKEM

AMBER

AMBUJACEM

ANGELONE

APLAPOLLO

APOLLOHOSP

ASHOKLEY

ASIANPAINT

ASTRAL

AUBANK

AUROPHARMA

AXISBANK

BAJAJ-AUTO

BAJAJFINSV

BAJFINANCE

BANDHANBNK

BANKBARODA

BANKEX

BANKINDIA

BANKNIFTY

BDL

BEL

BHARATFORG

BHARTIARTL

BHEL

BIOCON

BLUESTARCO

BOSCHLTD

BPCL

BRITANNIA

BSE

CAMS

CANBK

CDSL

CGPOWER

CHOLAFIN

CIPLA

COALINDIA

COFORGE

COLPAL

CONCOR

COPPER

CROMPTON

CRUDEOIL

CRUDEOILM

CUMMINSIND

CYIENT

DABUR

DALBHARAT

DELHIVERY

DIVISLAB

DIXON

DLF

DMART

DRREDDY

EICHERMOT

ETERNAL

EURINR

EURUSD

EXIDEIND

FEDERALBNK

FINNIFTY

FORTIS

GAIL

GBPINR

GBPUSD

GLENMARK

GMRAIRPORT

GODREJCP

GODREJPROP

GOLD