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.

MFSL

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.

Max Financial Serv Ltd

1708 +9.20 (0.54%)

L: 1688.6 H: 1719.6

Put-Call Ratio - MFSL

11 Dec 2025 02:33 PM IST

Live

Expiry

Put OI

2,464

Call OI

4,207

PCR

0.59

Put OI Chg

14

Call OI Chg

-158

COI PCR

-0.09

COI Strength

1.00

Interval

On 9:30 MFSL was trading at 1700.6 with pcr value 0.56

On 9:45 MFSL was trading at 1703.8 with pcr value 0.56

On 10:00 MFSL was trading at 1694.7 with pcr value 0.55

On 10:15 MFSL was trading at 1699 with pcr value 0.55

On 10:30 MFSL was trading at 1702.6 with pcr value 0.55

On 10:45 MFSL was trading at 1695.8 with pcr value 0.55

On 11:00 MFSL was trading at 1698.8 with pcr value 0.56

On 11:15 MFSL was trading at 1705.5 with pcr value 0.56

On 11:30 MFSL was trading at 1706.2 with pcr value 0.56

On 11:45 MFSL was trading at 1704.1 with pcr value 0.56

On 12:00 MFSL was trading at 1704.5 with pcr value 0.57

On 12:15 MFSL was trading at 1709.3 with pcr value 0.57

On 12:30 MFSL was trading at 1713.1 with pcr value 0.57

On 12:45 MFSL was trading at 1710.7 with pcr value 0.58

On 13:00 MFSL was trading at 1714.1 with pcr value 0.59

On 13:15 MFSL was trading at 1709.6 with pcr value 0.58

On 13:30 MFSL was trading at 1713.2 with pcr value 0.59

On 13:45 MFSL was trading at 1712.3 with pcr value 0.59

On 14:00 MFSL was trading at 1713.8 with pcr value 0.59

On 14:15 MFSL was trading at 1708.4 with pcr value 0.59

On 14:30 MFSL was trading at 1708.3 with pcr value 0.59

On 14:34 MFSL was trading at 1707.6 with pcr value 0.59

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	1,652	3,082	0.54	-37	-11	3.36
ABB	5,093	6,730	0.76	135	464	0.29
ABCAPITAL	4,947	7,717	0.64	326	324	1.01
ADANIENSOL	3,388	5,419	0.63	33	-168	-0.20
ADANIENT	27,774	42,751	0.65	1,163	-2,531	-0.46
ADANIGREEN	11,317	20,849	0.54	977	-832	-1.17
ADANIPORTS	9,851	18,230	0.54	139	-1,000	-0.14
ALKEM	1,146	1,792	0.64	72	40	1.80
AMBER	6,960	11,462	0.61	62	-397	-0.16
AMBUJACEM	9,134	12,178	0.75	-213	261	-0.82
ANGELONE	8,122	17,609	0.46	-297	-1,662	0.18
APLAPOLLO	2,425	2,702	0.90	425	-86	-4.94
APOLLOHOSP	7,326	15,454	0.47	519	949	0.55
ASHOKLEY	9,888	12,484	0.79	245	-176	-1.39
ASIANPAINT	17,300	30,098	0.57	374	1,755	0.21
ASTRAL	4,270	7,885	0.54	199	319	0.62
AUBANK	6,421	7,922	0.81	-681	151	-4.51
AUROPHARMA	4,440	10,392	0.43	47	2	23.50
AXISBANK	14,078	29,608	0.48	-111	-52	2.13
BAJAJ-AUTO	14,585	25,008	0.58	-188	-1,052	0.18
BAJAJFINSV	13,399	19,432	0.69	-94	-159	0.59
BAJFINANCE	22,466	37,206	0.60	810	2,242	0.36
BANDHANBNK	8,412	12,380	0.68	-49	-82	0.60
BANKBARODA	12,444	14,911	0.83	-110	414	-0.27
BANKINDIA	3,238	4,599	0.70	98	-70	-1.40
BDL	7,611	16,963	0.45	-246	-450	0.55
BEL	26,159	56,936	0.46	91	-157	-0.58
BHARATFORG	4,039	6,285	0.64	147	-100	-1.47
BHARTIARTL	18,460	40,341	0.46	559	2,044	0.27
BHEL	9,499	18,582	0.51	62	-420	-0.15
BIOCON	6,624	13,422	0.49	138	49	2.82
BLUESTARCO	876	1,303	0.67	83	-85	-0.98
BOSCHLTD	1,497	2,543	0.59	16	-320	-0.05
BPCL	5,057	7,590	0.67	289	385	0.75
BRITANNIA	4,594	7,388	0.62	-50	-65	0.77
BSE	17,653	30,087	0.59	492	-2,265	-0.22
CAMS	4,399	7,910	0.56	-33	-160	0.21
CANBK	12,141	15,573	0.78	180	-425	-0.42
CDSL	10,048	20,418	0.49	-38	-1,466	0.03
CGPOWER	4,773	8,787	0.54	-95	-27	3.52
CHOLAFIN	3,427	5,312	0.65	51	-55	-0.93
CIPLA	10,736	15,196	0.71	-67	-354	0.19
COALINDIA	12,637	11,478	1.10	153	-662	-0.23
COFORGE	8,608	21,918	0.39	-183	908	-0.20
COLPAL	6,612	8,904	0.74	-119	68	-1.75
CONCOR	7,093	9,481	0.75	-125	110	-1.14
CROMPTON	6,447	11,110	0.58	113	44	2.57
CUMMINSIND	3,609	4,336	0.83	193	-62	-3.11
CYIENT	1,877	2,729	0.69	4	-39	-0.10
DABUR	4,718	8,913	0.53	48	370	0.13
DALBHARAT	1,787	2,795	0.64	29	-149	-0.19
DELHIVERY	3,937	5,705	0.69	8	-38	-0.21
DIVISLAB	6,745	8,890	0.76	427	-306	-1.40
DIXON	34,842	72,565	0.48	5,290	2,309	2.29
DLF	16,409	24,105	0.68	69	-630	-0.11
DMART	7,553	13,051	0.58	617	431	1.43
DRREDDY	5,657	11,006	0.51	777	315	2.47
EICHERMOT	11,246	14,147	0.79	658	1,174	0.56
ETERNAL	17,970	31,018	0.58	232	-1,248	-0.19
EXIDEIND	3,896	5,070	0.77	-37	-55	0.67
FEDERALBNK	7,850	8,237	0.95	717	-57	-12.58
FORTIS	3,506	9,160	0.38	70	88	0.80
GAIL	12,882	19,544	0.66	-109	-117	0.93
GLENMARK	8,362	11,532	0.73	-352	140	-2.51
GMRAIRPORT	9,972	18,828	0.53	172	626	0.27
GODREJCP	2,900	4,046	0.72	12	-134	-0.09
GODREJPROP	6,990	11,965	0.58	-105	-190	0.55
GRASIM	8,827	9,059	0.97	338	-622	-0.54
HAL	27,807	52,628	0.53	-336	-1,350	0.25
HAVELLS	3,883	5,121	0.76	-1	117	-0.01
HCLTECH	11,708	19,223	0.61	-117	583	-0.20
HDFCAMC	4,205	5,212	0.81	-91	-272	0.33
HDFCBANK	41,342	61,265	0.67	-867	-6,619	0.13
HDFCLIFE	7,020	15,106	0.46	232	670	0.35
HEROMOTOCO	11,943	16,429	0.73	126	-839	-0.15
HFCL	4,452	10,094	0.44	12	-460	-0.03
HINDALCO	15,238	20,280	0.75	101	74	1.36
HINDPETRO	4,159	6,414	0.65	109	100	1.09
HINDUNILVR	7,133	15,935	0.45	81	-25	-3.24
HINDZINC	11,999	18,725	0.64	1,379	1,526	0.90
HUDCO	6,252	13,072	0.48	-191	-238	0.80
ICICIBANK	30,832	48,109	0.64	454	1,989	0.23
ICICIGI	3,218	5,010	0.64	73	-10	-7.30
ICICIPRULI	2,339	4,364	0.54	-232	45	-5.16
IDEA	15,287	26,906	0.57	412	-658	-0.63
IDFCFIRSTB	8,779	14,142	0.62	115	523	0.22
IEX	8,578	11,894	0.72	96	-137	-0.70
IIFL	2,500	3,857	0.65	0	105	0.00
INDHOTEL	5,693	8,547	0.67	133	-63	-2.08
INDIANB	4,675	10,832	0.43	-69	66	-1.05
INDIGO	56,596	1,19,588	0.47	2,114	7,741	0.27
INDUSINDBK	12,627	18,153	0.70	156	-254	-0.61
INDUSTOWER	8,265	13,189	0.63	-116	-94	1.23
INFY	37,170	58,713	0.63	-873	-417	2.09
INOXWIND	7,123	14,337	0.50	114	-614	-0.19
IOC	6,180	11,407	0.54	159	722	0.22
IRCTC	7,167	11,183	0.64	70	-144	-0.49
IREDA	5,067	10,642	0.48	-96	-194	0.49
IRFC	4,480	8,851	0.51	69	-10	-6.90
ITC	24,638	32,751	0.75	196	315	0.62
JINDALSTEL	5,443	8,028	0.68	17	81	0.21
JIOFIN	18,742	25,561	0.73	-131	-1,519	0.09
JSWENERGY	10,257	18,585	0.55	-278	-425	0.65
JSWSTEEL	14,449	27,800	0.52	-22	-347	0.06
JUBLFOOD	3,883	5,774	0.67	-123	-309	0.40
KALYANKJIL	4,608	8,801	0.52	299	-124	-2.41
KAYNES	30,688	81,710	0.38	1,351	3,326	0.41
KEI	1,638	3,070	0.53	37	-180	-0.21
KFINTECH	4,467	6,076	0.74	347	-87	-3.99
KOTAKBANK	21,380	22,191	0.96	6,533	3,525	1.85
KPITTECH	3,171	4,972	0.64	183	-568	-0.32
LAURUSLABS	5,057	8,849	0.57	197	-171	-1.15
LICHSGFIN	7,455	9,204	0.81	-58	71	-0.82
LICI	6,279	10,239	0.61	54	-21	-2.57
LODHA	4,618	10,279	0.45	-21	45	-0.47
LT	17,779	31,063	0.57	54	441	0.12
LTF	5,200	7,932	0.66	38	4	9.50
LTIM	4,670	6,048	0.77	-202	28	-7.21
LUPIN	4,941	6,394	0.77	216	-382	-0.57
M&M	16,421	27,676	0.59	8	208	0.04
MANAPPURAM	3,465	5,562	0.62	38	-67	-0.57
MANKIND	2,202	4,228	0.52	-10	129	-0.08
MARICO	2,670	3,931	0.68	-131	-241	0.54
MARUTI	24,527	30,289	0.81	4,247	530	8.01
MAXHEALTH	5,515	10,084	0.55	67	3	22.33
MAZDOCK	9,763	19,598	0.50	-187	-200	0.94
MCX	14,873	23,365	0.64	-105	767	-0.14
MFSL	2,464	4,207	0.59	14	-158	-0.09
MOTHERSON	6,448	9,985	0.65	512	578	0.89
MPHASIS	3,635	4,605	0.79	24	-42	-0.57
MUTHOOTFIN	4,807	9,930	0.48	177	233	0.76
NATIONALUM	6,029	8,198	0.74	51	227	0.22
NAUKRI	5,753	8,326	0.69	191	298	0.64
NBCC	3,210	6,687	0.48	72	163	0.44
NCC	3,577	7,117	0.50	103	10	10.30
NESTLEIND	4,464	15,245	0.29	-46	-115	0.40
NHPC	3,181	7,037	0.45	12	-341	-0.04
NMDC	9,971	12,713	0.78	-140	-550	0.25
NTPC	14,225	22,643	0.63	67	-386	-0.17
NUVAMA	2,247	4,258	0.53	87	61	1.43
NYKAA	2,720	6,593	0.41	50	199	0.25
OBEROIRLTY	3,957	5,674	0.70	-20	-354	0.06
OFSS	10,164	8,364	1.22	4,385	-377	-11.63
OIL	2,497	4,052	0.62	-10	-225	0.04
ONGC	8,365	19,074	0.44	-41	-150	0.27
PAGEIND	3,352	6,774	0.49	-111	-160	0.69
PATANJALI	3,652	7,975	0.46	199	200	0.99
PAYTM	7,885	12,306	0.64	-235	-315	0.75
PERSISTENT	6,291	9,888	0.64	750	257	2.92
PETRONET	8,502	8,012	1.06	6	-52	-0.12
PFC	20,258	32,355	0.63	349	1,137	0.31
PGEL	8,254	12,855	0.64	-184	-3	61.33
PHOENIXLTD	1,427	2,797	0.51	-12	-10	1.20
PIDILITIND	1,930	2,551	0.76	-20	-37	0.54
PIIND	2,565	3,757	0.68	-55	-106	0.52
PNB	11,571	21,902	0.53	-70	309	-0.23
PNBHOUSING	4,056	4,999	0.81	46	-154	-0.30
POLICYBZR	4,675	5,674	0.82	9	-97	-0.09
POLYCAB	4,135	5,882	0.70	144	-106	-1.36
POWERGRID	10,620	15,728	0.68	190	411	0.46
POWERINDIA	4,392	12,069	0.36	-151	464	-0.33
PPLPHARMA	2,526	6,064	0.42	-4	32	-0.13
PRESTIGE	2,949	3,611	0.82	118	-72	-1.64
RBLBANK	4,493	6,858	0.66	281	71	3.96
RECLTD	21,146	31,190	0.68	-41	313	-0.13
RELIANCE	51,402	96,349	0.53	898	2,693	0.33
RVNL	6,563	12,316	0.53	-17	-79	0.22
SAIL	5,750	9,929	0.58	80	14	5.71
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	9,829	0.51	226	1,097	0.21
SBIN	39,654	65,119	0.61	-1,076	-1,169	0.92
SHREECEM	1,519	2,836	0.54	254	-114	-2.23
SHRIRAMFIN	12,146	17,812	0.68	-118	-202	0.58
SIEMENS	5,801	12,692	0.46	348	602	0.58
SOLARINDS	3,529	8,030	0.44	-23	167	-0.14
SONACOMS	2,656	5,506	0.48	296	-190	-1.56
SRF	6,681	10,083	0.66	731	-136	-5.38
SUNPHARMA	6,466	15,382	0.42	-324	-1,019	0.32
SUPREMEIND	3,767	6,973	0.54	472	680	0.69
SUZLON	9,821	23,074	0.43	161	68	2.37
SYNGENE	1,629	2,519	0.65	-11	-33	0.33
TATACONSUM	4,551	8,601	0.53	-35	-75	0.47
TATAELXSI	5,157	14,895	0.35	-84	-407	0.21
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,724	25,798	0.76	-179	-18	9.94
TATASTEEL	15,842	31,853	0.50	394	-1,732	-0.23
TATATECH	4,695	7,470	0.63	30	-223	-0.13
TCS	37,830	49,173	0.77	1,533	2,272	0.67
TECHM	7,212	9,207	0.78	-220	-242	0.91
TIINDIA	4,624	7,362	0.63	77	-177	-0.44
TITAGARH	2,519	5,485	0.46	-9	-126	0.07
TITAN	12,266	20,622	0.59	731	501	1.46
TMPV	39,710	86,223	0.46	314	-2,381	-0.13
TORNTPHARM	1,183	2,346	0.50	-24	131	-0.18
TORNTPOWER	2,090	2,828	0.74	214	-141	-1.52
TRENT	26,757	48,821	0.55	1,454	3,721	0.39
TVSMOTOR	9,334	9,798	0.95	-46	-149	0.31
ULTRACEMCO	10,625	18,681	0.57	261	-141	-1.85
UNIONBANK	5,692	9,268	0.61	73	-19	-3.84
UNITDSPR	6,386	8,442	0.76	46	60	0.77
UNOMINDA	2,731	4,963	0.55	-104	-40	2.60
UPL	4,083	5,537	0.74	113	-145	-0.78
VBL	8,983	22,331	0.40	-24	220	-0.11
VEDL	22,153	32,801	0.68	1,152	-440	-2.62
VOLTAS	6,808	7,773	0.88	-124	-179	0.69
WIPRO	11,087	13,773	0.80	137	-325	-0.42
YESBANK	6,274	12,210	0.51	73	-28	-2.61
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.

Related Pages for MFSL

MFSL

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