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.

CDSL

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.

Central Depo Ser (I) Ltd

1519.4 +40.10 (2.71%)

L: 1477 H: 1530

Put-Call Ratio - CDSL

11 Dec 2025 02:29 PM IST

Live

Expiry

Put OI

10,004

Call OI

20,411

PCR

0.49

Put OI Chg

-82

Call OI Chg

-1,473

COI PCR

0.06

COI Strength

0.89

Interval

On 9:30 CDSL was trading at 1490 with pcr value 0.46

On 9:45 CDSL was trading at 1490.2 with pcr value 0.46

On 10:00 CDSL was trading at 1492 with pcr value 0.46

On 10:15 CDSL was trading at 1501 with pcr value 0.47

On 10:30 CDSL was trading at 1506.1 with pcr value 0.47

On 10:45 CDSL was trading at 1506.8 with pcr value 0.47

On 11:00 CDSL was trading at 1503.1 with pcr value 0.47

On 11:15 CDSL was trading at 1504 with pcr value 0.47

On 11:30 CDSL was trading at 1509 with pcr value 0.47

On 11:45 CDSL was trading at 1512.4 with pcr value 0.47

On 12:00 CDSL was trading at 1515.4 with pcr value 0.48

On 12:15 CDSL was trading at 1524.6 with pcr value 0.49

On 12:30 CDSL was trading at 1522.9 with pcr value 0.49

On 12:45 CDSL was trading at 1520.9 with pcr value 0.49

On 13:00 CDSL was trading at 1522.4 with pcr value 0.49

On 13:15 CDSL was trading at 1515.7 with pcr value 0.49

On 13:30 CDSL was trading at 1516.9 with pcr value 0.49

On 13:45 CDSL was trading at 1520.6 with pcr value 0.49

On 14:00 CDSL was trading at 1522.3 with pcr value 0.49

On 14:15 CDSL was trading at 1518.5 with pcr value 0.49

On 14:30 CDSL was trading at 1519.4 with pcr value 0.49

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	1,650	3,071	0.54	-39	-22	1.77
ABB	5,093	6,730	0.76	135	464	0.29
ABCAPITAL	4,964	7,789	0.64	343	396	0.87
ADANIENSOL	3,391	5,414	0.63	36	-173	-0.21
ADANIENT	27,703	42,610	0.65	1,092	-2,672	-0.41
ADANIGREEN	11,330	20,870	0.54	990	-811	-1.22
ADANIPORTS	9,867	18,225	0.54	155	-1,005	-0.15
ALKEM	1,149	1,792	0.64	75	40	1.88
AMBER	6,966	11,465	0.61	68	-394	-0.17
AMBUJACEM	9,134	12,173	0.75	-213	256	-0.83
ANGELONE	8,112	17,662	0.46	-307	-1,609	0.19
APLAPOLLO	2,425	2,703	0.90	425	-85	-5.00
APOLLOHOSP	7,315	15,461	0.47	508	956	0.53
ASHOKLEY	9,891	12,489	0.79	248	-171	-1.45
ASIANPAINT	17,300	30,098	0.57	374	1,755	0.21
ASTRAL	4,272	7,885	0.54	201	319	0.63
AUBANK	6,438	7,946	0.81	-664	175	-3.79
AUROPHARMA	4,440	10,392	0.43	47	2	23.50
AXISBANK	14,104	29,620	0.48	-85	-40	2.13
BAJAJ-AUTO	14,579	25,018	0.58	-194	-1,042	0.19
BAJAJFINSV	13,394	19,473	0.69	-99	-118	0.84
BAJFINANCE	22,427	37,259	0.60	771	2,295	0.34
BANDHANBNK	8,415	12,383	0.68	-46	-79	0.58
BANKBARODA	12,449	14,909	0.83	-105	412	-0.25
BANKINDIA	3,223	4,597	0.70	83	-72	-1.15
BDL	7,582	16,975	0.45	-275	-438	0.63
BEL	26,175	56,954	0.46	107	-139	-0.77
BHARATFORG	4,029	6,302	0.64	137	-83	-1.65
BHARTIARTL	18,473	40,301	0.46	572	2,004	0.29
BHEL	9,501	18,582	0.51	64	-420	-0.15
BIOCON	6,624	13,411	0.49	138	38	3.63
BLUESTARCO	868	1,302	0.67	75	-86	-0.87
BOSCHLTD	1,497	2,549	0.59	16	-314	-0.05
BPCL	5,044	7,592	0.66	276	387	0.71
BRITANNIA	4,595	7,387	0.62	-49	-66	0.74
BSE	17,695	30,241	0.59	534	-2,111	-0.25
CAMS	4,412	7,924	0.56	-20	-146	0.14
CANBK	12,141	15,573	0.78	180	-425	-0.42
CDSL	10,004	20,411	0.49	-82	-1,473	0.06
CGPOWER	4,775	8,786	0.54	-93	-28	3.32
CHOLAFIN	3,434	5,314	0.65	58	-53	-1.09
CIPLA	10,733	15,229	0.70	-70	-321	0.22
COALINDIA	12,636	11,487	1.10	152	-653	-0.23
COFORGE	8,608	21,918	0.39	-183	908	-0.20
COLPAL	6,612	8,907	0.74	-119	71	-1.68
CONCOR	7,102	9,479	0.75	-116	108	-1.07
CROMPTON	6,446	11,129	0.58	112	63	1.78
CUMMINSIND	3,608	4,341	0.83	192	-57	-3.37
CYIENT	1,874	2,730	0.69	1	-38	-0.03
DABUR	4,717	8,914	0.53	47	371	0.13
DALBHARAT	1,786	2,784	0.64	28	-160	-0.17
DELHIVERY	3,931	5,728	0.69	2	-15	-0.13
DIVISLAB	6,754	8,863	0.76	436	-333	-1.31
DIXON	34,788	72,632	0.48	5,236	2,376	2.20
DLF	16,407	24,102	0.68	67	-633	-0.11
DMART	7,554	13,019	0.58	618	399	1.55
DRREDDY	5,673	11,018	0.51	793	327	2.43
EICHERMOT	11,243	14,267	0.79	655	1,294	0.51
ETERNAL	17,915	31,053	0.58	177	-1,213	-0.15
EXIDEIND	3,897	5,069	0.77	-36	-56	0.64
FEDERALBNK	7,827	8,240	0.95	694	-54	-12.85
FORTIS	3,499	9,155	0.38	63	83	0.76
GAIL	12,850	19,525	0.66	-141	-136	1.04
GLENMARK	8,361	11,575	0.72	-353	183	-1.93
GMRAIRPORT	9,973	18,797	0.53	173	595	0.29
GODREJCP	2,859	4,007	0.71	-29	-173	0.17
GODREJPROP	6,991	11,979	0.58	-104	-176	0.59
GRASIM	8,826	9,071	0.97	337	-610	-0.55
HAL	27,814	52,641	0.53	-329	-1,337	0.25
HAVELLS	3,882	5,121	0.76	-2	117	-0.02
HCLTECH	11,746	19,216	0.61	-79	576	-0.14
HDFCAMC	4,243	5,190	0.82	-53	-294	0.18
HDFCBANK	41,332	61,361	0.67	-877	-6,523	0.13
HDFCLIFE	7,002	15,116	0.46	214	680	0.31
HEROMOTOCO	11,928	16,476	0.72	111	-792	-0.14
HFCL	4,453	10,115	0.44	13	-439	-0.03
HINDALCO	15,232	20,276	0.75	95	70	1.36
HINDPETRO	4,159	6,411	0.65	109	97	1.12
HINDUNILVR	7,130	15,977	0.45	78	17	4.59
HINDZINC	12,019	18,776	0.64	1,399	1,577	0.89
HUDCO	6,252	13,089	0.48	-191	-221	0.86
ICICIBANK	30,832	48,107	0.64	454	1,987	0.23
ICICIGI	3,217	5,010	0.64	72	-10	-7.20
ICICIPRULI	2,337	4,370	0.53	-234	51	-4.59
IDEA	15,209	27,512	0.55	334	-52	-6.42
IDFCFIRSTB	8,777	14,117	0.62	113	498	0.23
IEX	8,578	11,892	0.72	96	-139	-0.69
IIFL	2,500	3,856	0.65	0	104	0.00
INDHOTEL	5,696	8,542	0.67	136	-68	-1.97
INDIANB	4,676	10,837	0.43	-68	71	-0.96
INDIGO	56,781	1,19,450	0.48	2,299	7,603	0.30
INDUSINDBK	12,623	18,168	0.69	152	-239	-0.64
INDUSTOWER	8,254	13,130	0.63	-127	-153	0.83
INFY	37,171	58,711	0.63	-872	-419	2.08
INOXWIND	7,128	14,335	0.50	119	-616	-0.19
IOC	6,181	11,410	0.54	160	725	0.22
IRCTC	7,167	11,192	0.64	70	-135	-0.52
IREDA	5,067	10,642	0.48	-96	-194	0.49
IRFC	4,478	8,854	0.51	67	-7	-9.57
ITC	24,650	32,773	0.75	208	337	0.62
JINDALSTEL	5,443	8,014	0.68	17	67	0.25
JIOFIN	18,727	25,561	0.73	-146	-1,519	0.10
JSWENERGY	10,249	18,569	0.55	-286	-441	0.65
JSWSTEEL	14,462	27,798	0.52	-9	-349	0.03
JUBLFOOD	3,879	5,762	0.67	-127	-321	0.40
KALYANKJIL	4,598	8,809	0.52	289	-116	-2.49
KAYNES	30,688	81,710	0.38	1,351	3,326	0.41
KEI	1,638	3,067	0.53	37	-183	-0.20
KFINTECH	4,460	6,095	0.73	340	-68	-5.00
KOTAKBANK	21,491	22,455	0.96	6,644	3,789	1.75
KPITTECH	3,170	4,973	0.64	182	-567	-0.32
LAURUSLABS	5,056	8,800	0.57	196	-220	-0.89
LICHSGFIN	7,455	9,183	0.81	-58	50	-1.16
LICI	6,287	10,241	0.61	62	-19	-3.26
LODHA	4,617	10,288	0.45	-22	54	-0.41
LT	17,794	31,162	0.57	69	540	0.13
LTF	5,224	7,922	0.66	62	-6	-10.33
LTIM	4,670	6,048	0.77	-202	28	-7.21
LUPIN	4,939	6,389	0.77	214	-387	-0.55
M&M	16,416	27,639	0.59	3	171	0.02
MANAPPURAM	3,466	5,563	0.62	39	-66	-0.59
MANKIND	2,202	4,228	0.52	-10	129	-0.08
MARICO	2,670	3,931	0.68	-131	-241	0.54
MARUTI	24,540	29,955	0.82	4,260	196	21.73
MAXHEALTH	5,548	10,076	0.55	100	-5	-20.00
MAZDOCK	9,762	19,601	0.50	-188	-197	0.95
MCX	14,873	23,365	0.64	-105	767	-0.14
MFSL	2,470	4,192	0.59	20	-173	-0.12
MOTHERSON	6,442	9,990	0.64	506	583	0.87
MPHASIS	3,626	4,603	0.79	15	-44	-0.34
MUTHOOTFIN	4,807	9,930	0.48	177	233	0.76
NATIONALUM	6,030	8,198	0.74	52	227	0.23
NAUKRI	5,756	8,304	0.69	194	276	0.70
NBCC	3,204	6,697	0.48	66	173	0.38
NCC	3,578	7,117	0.50	104	10	10.40
NESTLEIND	4,461	15,250	0.29	-49	-110	0.45
NHPC	3,181	7,054	0.45	12	-324	-0.04
NMDC	9,969	12,713	0.78	-142	-550	0.26
NTPC	14,225	22,643	0.63	67	-386	-0.17
NUVAMA	2,250	4,260	0.53	90	63	1.43
NYKAA	2,720	6,599	0.41	50	205	0.24
OBEROIRLTY	3,957	5,674	0.70	-20	-354	0.06
OFSS	10,179	8,379	1.21	4,400	-362	-12.15
OIL	2,492	4,048	0.62	-15	-229	0.07
ONGC	8,370	19,081	0.44	-36	-143	0.25
PAGEIND	3,371	6,795	0.50	-92	-139	0.66
PATANJALI	3,657	7,973	0.46	204	198	1.03
PAYTM	7,917	12,334	0.64	-203	-287	0.71
PERSISTENT	6,291	9,888	0.64	750	257	2.92
PETRONET	8,503	8,019	1.06	7	-45	-0.16
PFC	20,254	32,382	0.63	345	1,164	0.30
PGEL	8,253	12,858	0.64	-185	0	0.00
PHOENIXLTD	1,433	2,804	0.51	-6	-3	2.00
PIDILITIND	1,929	2,546	0.76	-21	-42	0.50
PIIND	2,565	3,757	0.68	-55	-106	0.52
PNB	11,565	21,904	0.53	-76	311	-0.24
PNBHOUSING	4,050	4,999	0.81	40	-154	-0.26
POLICYBZR	4,675	5,668	0.82	9	-103	-0.09
POLYCAB	4,135	5,882	0.70	144	-106	-1.36
POWERGRID	10,620	15,726	0.68	190	409	0.46
POWERINDIA	4,393	12,077	0.36	-150	472	-0.32
PPLPHARMA	2,526	6,064	0.42	-4	32	-0.13
PRESTIGE	2,945	3,626	0.81	114	-57	-2.00
RBLBANK	4,495	6,850	0.66	283	63	4.49
RECLTD	21,146	31,211	0.68	-41	334	-0.12
RELIANCE	51,384	96,247	0.53	880	2,591	0.34
RVNL	6,563	12,316	0.53	-17	-79	0.22
SAIL	5,750	9,933	0.58	80	18	4.44
SAMMAANCAP	5,937	9,000	0.66	-2	-11	0.18
SBICARD	4,577	7,000	0.65	-27	-280	0.10
SBILIFE	5,059	9,831	0.51	226	1,099	0.21
SBIN	39,649	65,118	0.61	-1,081	-1,170	0.92
SHREECEM	1,522	2,836	0.54	257	-114	-2.25
SHRIRAMFIN	12,128	17,805	0.68	-136	-209	0.65
SIEMENS	5,803	12,692	0.46	350	602	0.58
SOLARINDS	3,529	8,034	0.44	-23	171	-0.13
SONACOMS	2,659	5,506	0.48	299	-190	-1.57
SRF	6,703	10,087	0.66	753	-132	-5.70
SUNPHARMA	6,466	15,382	0.42	-324	-1,019	0.32
SUPREMEIND	3,772	7,000	0.54	477	707	0.67
SUZLON	9,820	23,089	0.43	160	83	1.93
SYNGENE	1,628	2,521	0.65	-12	-31	0.39
TATACONSUM	4,554	8,569	0.53	-32	-107	0.30
TATAELXSI	5,180	14,946	0.35	-61	-356	0.17
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,724	25,798	0.76	-179	-18	9.94
TATASTEEL	15,861	32,017	0.50	413	-1,568	-0.26
TATATECH	4,695	7,470	0.63	30	-223	-0.13
TCS	37,830	49,157	0.77	1,533	2,256	0.68
TECHM	7,228	9,252	0.78	-204	-197	1.04
TIINDIA	4,625	7,359	0.63	78	-180	-0.43
TITAGARH	2,519	5,485	0.46	-9	-126	0.07
TITAN	12,132	20,654	0.59	597	533	1.12
TMPV	39,677	86,179	0.46	281	-2,425	-0.12
TORNTPHARM	1,183	2,355	0.50	-24	140	-0.17
TORNTPOWER	2,090	2,827	0.74	214	-142	-1.51
TRENT	26,779	48,933	0.55	1,476	3,833	0.39
TVSMOTOR	9,337	9,801	0.95	-43	-146	0.29
ULTRACEMCO	10,624	18,670	0.57	260	-152	-1.71
UNIONBANK	5,690	9,267	0.61	71	-20	-3.55
UNITDSPR	6,384	8,447	0.76	44	65	0.68
UNOMINDA	2,731	4,965	0.55	-104	-38	2.74
UPL	4,084	5,539	0.74	114	-143	-0.80
VBL	8,974	22,299	0.40	-33	188	-0.18
VEDL	22,165	32,813	0.68	1,164	-428	-2.72
VOLTAS	6,808	7,773	0.88	-124	-179	0.69
WIPRO	11,087	13,773	0.80	137	-325	-0.42
YESBANK	6,270	12,228	0.51	69	-10	-6.90
ZYDUSLIFE	3,292	4,362	0.75	12	118	0.10

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.

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