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.

BANKEX

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.

Bank Index

66115.32 +138.07 (0.21%)

L: 66060.7 H: 66247.67

Put-Call Ratio - BANKEX

19 Dec 2025 11:34 AM IST

Live

Expiry

Put OI

2,263

Call OI

3,653

PCR

0.62

Put OI Chg

381

Call OI Chg

302

COI PCR

1.26

COI Strength

0.12

Interval

On 9:30 BANKEX was trading at 66199.22 with pcr value 0.57

On 9:45 BANKEX was trading at 66197.97 with pcr value 0.6

On 10:00 BANKEX was trading at 66175.02 with pcr value 0.62

On 10:15 BANKEX was trading at 66137.44 with pcr value 0.63

On 10:30 BANKEX was trading at 66192.11 with pcr value 0.64

On 10:45 BANKEX was trading at 66224.46 with pcr value 0.65

On 11:00 BANKEX was trading at 66197.16 with pcr value 0.65

On 11:15 BANKEX was trading at 66163.14 with pcr value 0.63

On 11:30 BANKEX was trading at 66120.61 with pcr value 0.63

On 11:35 BANKEX was trading at 66122.83 with pcr value 0.62

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	2,088	3,589	0.58	3	13	0.23
ABB	5,252	6,949	0.76	-86	-158	0.54
ABCAPITAL	4,620	8,055	0.57	-73	-50	1.46
ADANIENSOL	3,273	6,103	0.54	16	118	0.14
ADANIENT	27,466	45,922	0.60	884	2,202	0.40
ADANIGREEN	9,734	18,218	0.53	-15	-232	0.06
ADANIPORTS	9,313	18,900	0.49	96	271	0.35
ALKEM	1,377	2,114	0.65	142	45	3.16
AMBER	7,188	11,187	0.64	-80	191	-0.42
AMBUJACEM	8,310	11,230	0.74	-1	-235	0.00
ANGELONE	7,916	20,400	0.39	216	-268	-0.81
APLAPOLLO	2,408	3,000	0.80	177	397	0.45
APOLLOHOSP	9,199	18,507	0.50	334	213	1.57
ASHOKLEY	14,970	13,947	1.07	1,527	593	2.58
ASIANPAINT	16,939	33,983	0.50	297	-649	-0.46
ASTRAL	4,345	8,341	0.52	77	308	0.25
AUBANK	6,422	7,984	0.80	-20	156	-0.13
AUROPHARMA	5,215	11,717	0.45	471	1,589	0.30
AXISBANK	21,347	45,592	0.47	-389	-1,863	0.21
BAJAJ-AUTO	14,614	27,495	0.53	377	-1,020	-0.37
BAJAJFINSV	14,073	20,883	0.67	-11	-370	0.03
BAJFINANCE	22,626	38,144	0.59	-519	-1,626	0.32
BANDHANBNK	7,490	10,904	0.69	-132	-247	0.53
BANKBARODA	11,897	14,173	0.84	-25	-334	0.07
BANKINDIA	3,608	5,003	0.72	-16	0	0.00
BDL	8,489	22,136	0.38	-27	461	-0.06
BEL	26,147	57,598	0.45	121	-1,824	-0.07
BHARATFORG	4,614	7,546	0.61	282	641	0.44
BHARTIARTL	19,011	41,204	0.46	390	2,148	0.18
BHEL	8,745	19,482	0.45	-50	346	-0.14
BIOCON	6,222	11,391	0.55	173	-359	-0.48
BLUESTARCO	1,992	2,352	0.85	233	500	0.47
BOSCHLTD	1,621	3,826	0.42	15	30	0.50
BPCL	5,483	9,363	0.59	68	-19	-3.58
BRITANNIA	6,286	9,784	0.64	110	-684	-0.16
BSE	17,091	33,154	0.52	83	1,043	0.08
CAMS	4,759	7,639	0.62	-37	-225	0.16
CANBK	12,293	15,820	0.78	157	722	0.22
CDSL	9,709	23,018	0.42	1	141	0.01
CGPOWER	4,476	10,608	0.42	-124	-67	1.85
CHOLAFIN	9,258	9,854	0.94	1,013	561	1.81
CIPLA	10,312	14,563	0.71	384	-471	-0.82
COALINDIA	13,305	13,265	1.00	241	218	1.11
COFORGE	9,212	20,530	0.45	395	859	0.46
COLPAL	7,805	12,409	0.63	-36	-129	0.28
CONCOR	7,791	10,257	0.76	38	78	0.49
CROMPTON	6,843	14,152	0.48	-20	695	-0.03
CUMMINSIND	3,943	7,135	0.55	100	751	0.13
CYIENT	2,345	3,619	0.65	-12	-59	0.20
DABUR	6,476	11,712	0.55	-17	72	-0.24
DALBHARAT	2,819	4,435	0.64	27	56	0.48
DELHIVERY	4,095	6,318	0.65	89	19	4.68
DIVISLAB	9,079	16,789	0.54	2,336	7,169	0.33
DIXON	35,769	71,902	0.50	485	5,273	0.09
DLF	16,718	25,797	0.65	-859	-198	4.34
DMART	7,276	17,299	0.42	-58	-116	0.50
DRREDDY	5,337	10,634	0.50	150	252	0.60
EICHERMOT	11,105	14,987	0.74	549	-25	-21.96
ETERNAL	18,182	35,535	0.51	-463	-732	0.63
EXIDEIND	4,347	6,780	0.64	-8	38	-0.21
FEDERALBNK	9,023	7,866	1.15	739	-24	-30.79
FORTIS	3,627	7,922	0.46	102	-105	-0.97
GAIL	12,926	19,462	0.66	-222	-581	0.38
GLENMARK	7,281	10,819	0.67	-505	277	-1.82
GMRAIRPORT	10,489	21,562	0.49	-29	684	-0.04
GODREJCP	3,750	5,579	0.67	-32	116	-0.28
GODREJPROP	6,924	11,894	0.58	9	-145	-0.06
GRASIM	9,447	8,650	1.09	35	89	0.39
HAL	28,159	54,095	0.52	-339	-722	0.47
HAVELLS	3,936	5,019	0.78	160	125	1.28
HCLTECH	12,864	24,847	0.52	1,093	4,314	0.25
HDFCAMC	9,033	11,777	0.77	-2,424	159	-15.25
HDFCBANK	43,313	75,921	0.57	523	-939	-0.56
HDFCLIFE	7,123	16,208	0.44	37	-128	-0.29
HEROMOTOCO	14,291	32,402	0.44	668	645	1.04
HFCL	4,919	11,587	0.42	-31	33	-0.94
HINDALCO	15,244	20,802	0.73	-390	166	-2.35
HINDPETRO	4,078	6,997	0.58	27	101	0.27
HINDUNILVR	9,680	20,667	0.47	-172	-79	2.18
HINDZINC	26,351	36,873	0.71	-229	1,235	-0.19
HUDCO	6,414	14,813	0.43	4	77	0.05
ICICIBANK	31,071	52,421	0.59	-367	2,112	-0.17
ICICIGI	3,114	6,148	0.51	-76	164	-0.46
ICICIPRULI	2,412	4,968	0.49	52	69	0.75
IDEA	14,239	25,157	0.57	156	-104	-1.50
IDFCFIRSTB	9,640	12,274	0.79	-73	123	-0.59
IEX	8,316	11,333	0.73	12	43	0.28
IIFL	2,687	4,463	0.60	30	117	0.26
INDHOTEL	6,301	9,764	0.65	21	-189	-0.11
INDIANB	4,787	12,350	0.39	-35	481	-0.07
INDIGO	53,565	97,398	0.55	236	695	0.34
INDUSINDBK	12,939	18,889	0.69	145	772	0.19
INDUSTOWER	8,434	14,389	0.59	-109	-145	0.75
INFY	50,339	70,142	0.72	3,060	6,104	0.50
INOXWIND	6,709	13,511	0.50	-9	-288	0.03
IOC	7,504	11,767	0.64	-181	120	-1.51
IRCTC	7,040	10,419	0.68	-33	-163	0.20
IREDA	5,125	10,414	0.49	-2	120	-0.02
IRFC	4,707	9,449	0.50	47	105	0.45
ITC	20,456	33,832	0.60	52	-440	-0.12
JINDALSTEL	5,674	9,348	0.61	23	163	0.14
JIOFIN	18,309	26,377	0.69	55	-320	-0.17
JSWENERGY	9,605	15,212	0.63	15	97	0.15
JSWSTEEL	11,723	27,603	0.42	-89	-20	4.45
JUBLFOOD	5,903	10,323	0.57	-144	35	-4.11
KALYANKJIL	4,784	9,434	0.51	20	27	0.74
KAYNES	29,910	75,842	0.39	612	813	0.75
KEI	2,653	4,136	0.64	81	388	0.21
KFINTECH	4,353	5,996	0.73	122	539	0.23
KOTAKBANK	17,965	20,929	0.86	375	-125	-3.00
KPITTECH	3,873	6,840	0.57	46	38	1.21
LAURUSLABS	6,396	9,702	0.66	1,141	437	2.61
LICHSGFIN	7,636	9,258	0.82	37	-10	-3.70
LICI	6,093	11,855	0.51	21	-120	-0.17
LODHA	4,939	10,664	0.46	67	-266	-0.25
LT	18,605	30,945	0.60	1,064	-669	-1.59
LTF	5,123	7,957	0.64	30	-27	-1.11
LTIM	5,976	7,809	0.77	1,238	1,578	0.78
LUPIN	5,462	6,630	0.82	188	-20	-9.40
M&M	17,211	32,579	0.53	108	-101	-1.07
MANAPPURAM	3,714	6,201	0.60	-63	-129	0.49
MANKIND	2,465	4,558	0.54	77	-24	-3.21
MARICO	3,185	5,075	0.63	19	198	0.10
MARUTI	29,215	31,442	0.93	1,125	325	3.46
MAXHEALTH	6,565	11,681	0.56	189	581	0.33
MAZDOCK	10,177	23,272	0.44	55	728	0.08
MCX	15,955	23,115	0.69	1,205	804	1.50
MFSL	2,420	4,477	0.54	20	103	0.19
MOTHERSON	6,434	8,858	0.73	387	-34	-11.38
MPHASIS	4,045	5,262	0.77	182	-15	-12.13
MUTHOOTFIN	5,498	10,692	0.51	1	94	0.01
NATIONALUM	6,849	8,548	0.80	-15	310	-0.05
NAUKRI	5,828	7,765	0.75	32	533	0.06
NBCC	3,424	8,906	0.38	43	-197	-0.22
NCC	3,754	9,055	0.41	18	59	0.31
NESTLEIND	4,449	14,462	0.31	133	194	0.69
NHPC	3,233	7,187	0.45	57	55	1.04
NMDC	10,162	14,305	0.71	136	528	0.26
NTPC	14,121	23,231	0.61	-16	-5	3.05
NUVAMA	3,107	6,740	0.46	174	898	0.19
NYKAA	2,789	7,220	0.39	-21	69	-0.30
OBEROIRLTY	3,779	5,229	0.72	75	76	0.99
OFSS	6,471	11,852	0.55	461	748	0.62
OIL	2,510	4,733	0.53	-65	-49	1.33
ONGC	10,669	26,795	0.40	-75	89	-0.84
PAGEIND	3,509	9,474	0.37	-50	915	-0.05
PATANJALI	4,789	8,624	0.56	62	189	0.33
PAYTM	8,486	13,972	0.61	471	85	5.54
PERSISTENT	7,354	11,884	0.62	523	878	0.60
PETRONET	9,037	8,332	1.08	35	-212	-0.17
PFC	22,444	33,359	0.67	1,035	-1,407	-0.74
PGEL	7,321	11,881	0.62	-408	87	-4.69
PHOENIXLTD	1,756	3,415	0.51	-15	-35	0.43
PIDILITIND	1,935	2,837	0.68	9	83	0.11
PIIND	3,772	5,645	0.67	4	9	0.44
PNB	11,600	20,945	0.55	20	-34	-0.60
PNBHOUSING	6,908	11,889	0.58	15	-38	-0.39
POLICYBZR	6,247	8,124	0.77	399	-250	-1.60
POLYCAB	5,989	8,498	0.70	1,264	739	1.71
POWERGRID	10,560	17,473	0.60	-202	-395	0.51
POWERINDIA	4,728	14,099	0.34	630	1,162	0.54
PPLPHARMA	2,997	7,262	0.41	-6	91	-0.07
PRESTIGE	2,804	4,245	0.66	58	-71	-0.82
RBLBANK	4,859	7,985	0.61	28	-40	-0.70
RECLTD	21,506	33,093	0.65	-207	-159	1.30
RELIANCE	52,151	87,967	0.59	2,900	-6,753	-0.43
RVNL	6,083	12,715	0.48	-24	-246	0.10
SAIL	5,929	11,524	0.51	-58	686	-0.08
SAMMAANCAP	8,932	13,279	0.67	-350	-290	1.21
SBICARD	4,816	7,147	0.67	27	120	0.23
SBILIFE	5,603	11,454	0.49	96	-65	-1.48
SBIN	40,229	58,402	0.69	-1,102	127	-8.68
SHREECEM	2,672	6,605	0.40	410	730	0.56
SHRIRAMFIN	15,679	24,295	0.65	202	1,289	0.16
SIEMENS	8,884	19,384	0.46	230	-271	-0.85
SOLARINDS	4,222	11,206	0.38	33	636	0.05
SONACOMS	2,631	5,628	0.47	67	23	2.91
SRF	7,413	8,715	0.85	21	-276	-0.08
SUNPHARMA	8,734	24,273	0.36	166	-1,901	-0.09
SUPREMEIND	4,186	7,160	0.58	-2	157	-0.01
SUZLON	10,157	25,209	0.40	23	243	0.09
SYNGENE	1,612	3,501	0.46	148	80	1.85
TATACONSUM	5,074	9,784	0.52	-80	-36	2.22
TATAELXSI	10,500	19,191	0.55	5,006	4,331	1.16
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,053	27,877	0.68	-165	-452	0.37
TATASTEEL	14,806	27,813	0.53	-83	765	-0.11
TATATECH	4,775	7,518	0.64	49	-83	-0.59
TCS	37,165	46,325	0.80	1,397	-373	-3.75
TECHM	8,808	10,412	0.85	126	319	0.39
TIINDIA	4,941	7,624	0.65	20	-57	-0.35
TITAGARH	2,733	5,753	0.48	16	149	0.11
TITAN	14,913	21,635	0.69	1,701	985	1.73
TMPV	38,031	77,244	0.49	-2,182	-2,747	0.79
TORNTPHARM	1,253	2,510	0.50	71	21	3.38
TORNTPOWER	1,848	3,613	0.51	8	100	0.08
TRENT	26,213	50,894	0.52	-24	-1,221	0.02
TVSMOTOR	9,529	9,041	1.05	444	-435	-1.02
ULTRACEMCO	11,703	21,231	0.55	220	-14	-15.71
UNIONBANK	5,336	8,412	0.63	84	478	0.18
UNITDSPR	8,250	10,265	0.80	60	224	0.27
UNOMINDA	2,805	5,473	0.51	15	103	0.15
UPL	4,889	6,939	0.70	14	103	0.14
VBL	9,310	18,838	0.49	-71	182	-0.39
VEDL	42,021	41,228	1.02	-616	1,428	-0.43
VOLTAS	6,940	10,560	0.66	191	1,705	0.11
WIPRO	12,195	14,562	0.84	360	431	0.84
YESBANK	6,345	13,156	0.48	-18	169	-0.11
ZYDUSLIFE	3,515	4,820	0.73	-22	27	-0.81

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 BANKEX

BANKEX

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

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