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.

MIDCPNIFTY

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 Midcap Select

13747.9 +2.75 (0.02%)

L: 13747.5 H: 13827.85

Put-Call Ratio - MIDCPNIFTY

19 Dec 2025 11:29 AM IST

Live

Expiry

Put OI

71,177

Call OI

76,516

PCR

0.93

Put OI Chg

3,756

Call OI Chg

3,638

COI PCR

1.03

COI Strength

0.02

Interval

On 9:30 MIDCPNIFTY was trading at 13814.65 with pcr value 0.94

On 9:45 MIDCPNIFTY was trading at 13807.1 with pcr value 0.95

On 10:00 MIDCPNIFTY was trading at 13779.75 with pcr value 0.95

On 10:15 MIDCPNIFTY was trading at 13762.4 with pcr value 0.94

On 10:30 MIDCPNIFTY was trading at 13792.65 with pcr value 0.94

On 10:45 MIDCPNIFTY was trading at 13796.15 with pcr value 0.93

On 11:00 MIDCPNIFTY was trading at 13769.35 with pcr value 0.94

On 11:15 MIDCPNIFTY was trading at 13763.45 with pcr value 0.93

On 11:30 MIDCPNIFTY was trading at 13747.2 with pcr value 0.93

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	2,089	3,605	0.58	4	29	0.14
ABB	5,254	6,942	0.76	-84	-165	0.51
ABCAPITAL	4,616	8,061	0.57	-77	-44	1.75
ADANIENSOL	3,273	6,101	0.54	16	116	0.14
ADANIENT	27,335	45,884	0.60	753	2,164	0.35
ADANIGREEN	9,743	18,271	0.53	-6	-179	0.03
ADANIPORTS	9,305	18,879	0.49	88	250	0.35
ALKEM	1,375	2,103	0.65	140	34	4.12
AMBER	7,190	11,193	0.64	-78	197	-0.40
AMBUJACEM	8,308	11,208	0.74	-3	-257	0.01
ANGELONE	7,908	20,395	0.39	208	-273	-0.76
APLAPOLLO	2,412	3,000	0.80	181	397	0.46
APOLLOHOSP	9,232	18,523	0.50	367	229	1.60
ASHOKLEY	15,004	13,940	1.08	1,561	586	2.66
ASIANPAINT	16,863	34,049	0.50	221	-583	-0.38
ASTRAL	4,341	8,328	0.52	73	295	0.25
AUBANK	6,423	7,983	0.80	-19	155	-0.12
AUROPHARMA	5,207	11,700	0.45	463	1,572	0.29
AXISBANK	21,361	45,612	0.47	-375	-1,843	0.20
BAJAJ-AUTO	14,692	27,516	0.53	455	-999	-0.46
BAJAJFINSV	14,058	20,886	0.67	-26	-367	0.07
BAJFINANCE	22,617	38,153	0.59	-528	-1,617	0.33
BANDHANBNK	7,493	10,948	0.68	-129	-203	0.64
BANKBARODA	11,908	14,172	0.84	-14	-335	0.04
BANKINDIA	3,609	5,002	0.72	-15	-1	15.00
BDL	8,483	22,154	0.38	-33	479	-0.07
BEL	26,223	57,612	0.46	197	-1,810	-0.11
BHARATFORG	4,607	7,525	0.61	275	620	0.44
BHARTIARTL	19,035	41,220	0.46	414	2,164	0.19
BHEL	8,758	19,460	0.45	-37	324	-0.11
BIOCON	6,219	11,339	0.55	170	-411	-0.41
BLUESTARCO	2,027	2,302	0.88	268	450	0.60
BOSCHLTD	1,629	3,829	0.43	23	33	0.70
BPCL	5,496	9,343	0.59	81	-39	-2.08
BRITANNIA	6,284	9,802	0.64	108	-666	-0.16
BSE	17,124	33,120	0.52	116	1,009	0.11
CAMS	4,763	7,640	0.62	-33	-224	0.15
CANBK	12,247	15,793	0.78	111	695	0.16
CDSL	9,707	23,051	0.42	-1	174	-0.01
CGPOWER	4,471	10,630	0.42	-129	-45	2.87
CHOLAFIN	9,262	9,854	0.94	1,017	561	1.81
CIPLA	10,323	14,597	0.71	395	-437	-0.90
COALINDIA	13,308	13,282	1.00	244	235	1.04
COFORGE	9,232	20,505	0.45	415	834	0.50
COLPAL	7,811	12,391	0.63	-30	-147	0.20
CONCOR	7,789	10,260	0.76	36	81	0.44
CROMPTON	6,834	14,120	0.48	-29	663	-0.04
CUMMINSIND	3,939	6,956	0.57	96	572	0.17
CYIENT	2,346	3,620	0.65	-11	-58	0.19
DABUR	6,470	11,704	0.55	-23	64	-0.36
DALBHARAT	2,816	4,405	0.64	24	26	0.92
DELHIVERY	4,094	6,316	0.65	88	17	5.18
DIVISLAB	9,112	16,533	0.55	2,369	6,913	0.34
DIXON	35,728	71,776	0.50	444	5,147	0.09
DLF	16,726	25,769	0.65	-851	-226	3.77
DMART	7,268	17,287	0.42	-66	-128	0.52
DRREDDY	5,355	10,646	0.50	168	264	0.64
EICHERMOT	11,102	15,022	0.74	546	10	54.60
ETERNAL	18,189	35,548	0.51	-456	-719	0.63
EXIDEIND	4,341	6,797	0.64	-14	55	-0.25
FEDERALBNK	9,006	7,863	1.15	722	-27	-26.74
FORTIS	3,669	7,908	0.46	144	-119	-1.21
GAIL	12,931	19,472	0.66	-217	-571	0.38
GLENMARK	7,293	10,836	0.67	-493	294	-1.68
GMRAIRPORT	10,501	21,549	0.49	-17	671	-0.03
GODREJCP	3,752	5,592	0.67	-30	129	-0.23
GODREJPROP	6,927	11,885	0.58	12	-154	-0.08
GRASIM	9,486	8,663	1.10	74	102	0.73
HAL	28,150	54,059	0.52	-348	-758	0.46
HAVELLS	3,932	5,005	0.79	156	111	1.41
HCLTECH	12,935	24,528	0.53	1,164	3,995	0.29
HDFCAMC	9,049	11,816	0.77	-2,408	198	-12.16
HDFCBANK	43,353	75,811	0.57	563	-1,049	-0.54
HDFCLIFE	7,121	16,150	0.44	35	-186	-0.19
HEROMOTOCO	14,255	32,572	0.44	632	815	0.78
HFCL	4,928	11,596	0.42	-22	42	-0.52
HINDALCO	15,320	20,679	0.74	-314	43	-7.30
HINDPETRO	4,078	6,962	0.59	27	66	0.41
HINDUNILVR	9,676	20,661	0.47	-176	-85	2.07
HINDZINC	26,392	36,878	0.72	-188	1,240	-0.15
HUDCO	6,409	14,811	0.43	-1	75	-0.01
ICICIBANK	31,187	52,305	0.60	-251	1,996	-0.13
ICICIGI	3,116	6,159	0.51	-74	175	-0.42
ICICIPRULI	2,411	4,924	0.49	51	25	2.04
IDEA	14,235	25,116	0.57	152	-145	-1.05
IDFCFIRSTB	9,663	12,287	0.79	-50	136	-0.37
IEX	8,311	11,340	0.73	7	50	0.14
IIFL	2,669	4,436	0.60	12	90	0.13
INDHOTEL	6,308	9,756	0.65	28	-197	-0.14
INDIANB	4,798	12,216	0.39	-24	347	-0.07
INDIGO	53,430	97,680	0.55	101	977	0.10
INDUSINDBK	12,948	18,895	0.69	154	778	0.20
INDUSTOWER	8,435	14,416	0.59	-108	-118	0.92
INFY	50,543	70,053	0.72	3,264	6,015	0.54
INOXWIND	6,716	13,544	0.50	-2	-255	0.01
IOC	7,518	11,746	0.64	-167	99	-1.69
IRCTC	7,041	10,410	0.68	-32	-172	0.19
IREDA	5,123	10,389	0.49	-4	95	-0.04
IRFC	4,708	9,449	0.50	48	105	0.46
ITC	20,458	33,838	0.60	54	-434	-0.12
JINDALSTEL	5,657	9,333	0.61	6	148	0.04
JIOFIN	18,313	26,370	0.69	59	-327	-0.18
JSWENERGY	9,604	15,220	0.63	14	105	0.13
JSWSTEEL	11,726	27,615	0.42	-86	-8	10.75
JUBLFOOD	5,900	10,338	0.57	-147	50	-2.94
KALYANKJIL	4,786	9,432	0.51	22	25	0.88
KAYNES	29,873	76,068	0.39	575	1,039	0.55
KEI	2,647	4,162	0.64	75	414	0.18
KFINTECH	4,375	6,009	0.73	144	552	0.26
KOTAKBANK	17,948	20,932	0.86	358	-122	-2.93
KPITTECH	3,870	6,835	0.57	43	33	1.30
LAURUSLABS	6,387	9,704	0.66	1,132	439	2.58
LICHSGFIN	7,636	9,255	0.83	37	-13	-2.85
LICI	6,094	11,875	0.51	22	-100	-0.22
LODHA	4,932	10,708	0.46	60	-222	-0.27
LT	18,580	30,957	0.60	1,039	-657	-1.58
LTF	5,121	7,967	0.64	28	-17	-1.65
LTIM	5,972	7,812	0.76	1,234	1,581	0.78
LUPIN	5,466	6,609	0.83	192	-41	-4.68
M&M	17,209	32,607	0.53	106	-73	-1.45
MANAPPURAM	3,708	6,232	0.59	-69	-98	0.70
MANKIND	2,470	4,566	0.54	82	-16	-5.13
MARICO	3,186	5,075	0.63	20	198	0.10
MARUTI	29,142	31,358	0.93	1,052	241	4.37
MAXHEALTH	6,571	11,651	0.56	195	551	0.35
MAZDOCK	10,162	23,226	0.44	40	682	0.06
MCX	15,989	23,029	0.69	1,239	718	1.73
MFSL	2,418	4,466	0.54	18	92	0.20
MOTHERSON	6,422	8,860	0.72	375	-32	-11.72
MPHASIS	4,044	5,248	0.77	181	-29	-6.24
MUTHOOTFIN	5,496	10,690	0.51	-1	92	-0.01
NATIONALUM	6,854	8,548	0.80	-10	310	-0.03
NAUKRI	5,829	7,737	0.75	33	505	0.07
NBCC	3,428	8,895	0.39	47	-208	-0.23
NCC	3,748	9,036	0.41	12	40	0.30
NESTLEIND	4,447	14,467	0.31	131	199	0.66
NHPC	3,235	7,186	0.45	59	54	1.09
NMDC	10,165	14,315	0.71	139	538	0.26
NTPC	14,087	23,234	0.61	-50	-2	20.54
NUVAMA	3,108	6,703	0.46	175	861	0.20
NYKAA	2,790	7,223	0.39	-20	72	-0.28
OBEROIRLTY	3,826	5,229	0.73	122	76	1.61
OFSS	6,452	11,860	0.54	442	756	0.58
OIL	2,510	4,729	0.53	-65	-53	1.23
ONGC	10,686	26,792	0.40	-58	86	-0.67
PAGEIND	3,523	9,435	0.37	-36	876	-0.04
PATANJALI	4,872	8,539	0.57	145	104	1.39
PAYTM	8,512	14,001	0.61	497	114	4.36
PERSISTENT	7,360	11,876	0.62	529	870	0.61
PETRONET	9,038	8,348	1.08	36	-196	-0.18
PFC	22,463	33,355	0.67	1,054	-1,411	-0.75
PGEL	7,322	11,925	0.61	-407	131	-3.11
PHOENIXLTD	1,759	3,397	0.52	-12	-53	0.23
PIDILITIND	1,935	2,822	0.69	9	68	0.13
PIIND	3,778	5,637	0.67	10	1	10.00
PNB	11,615	20,939	0.55	35	-40	-0.88
PNBHOUSING	6,909	11,873	0.58	16	-54	-0.30
POLICYBZR	6,330	8,157	0.78	482	-217	-2.22
POLYCAB	6,020	8,531	0.71	1,295	772	1.68
POWERGRID	10,567	17,458	0.61	-195	-410	0.48
POWERINDIA	4,727	14,079	0.34	629	1,142	0.55
PPLPHARMA	2,998	7,272	0.41	-5	101	-0.05
PRESTIGE	2,807	4,244	0.66	61	-72	-0.85
RBLBANK	4,859	7,970	0.61	28	-55	-0.51
RECLTD	21,495	33,077	0.65	-218	-175	1.25
RELIANCE	52,304	88,145	0.59	3,053	-6,575	-0.46
RVNL	6,083	12,694	0.48	-24	-267	0.09
SAIL	5,928	11,525	0.51	-59	687	-0.09
SAMMAANCAP	8,932	13,279	0.67	-350	-290	1.21
SBICARD	4,814	7,168	0.67	25	141	0.18
SBILIFE	5,602	11,454	0.49	95	-65	-1.46
SBIN	40,240	58,273	0.69	-1,091	-2	545.50
SHREECEM	2,631	6,584	0.40	369	709	0.52
SHRIRAMFIN	15,695	24,401	0.64	218	1,395	0.16
SIEMENS	8,885	19,406	0.46	231	-249	-0.93
SOLARINDS	4,213	11,223	0.38	24	653	0.04
SONACOMS	2,605	5,639	0.46	41	34	1.21
SRF	7,416	8,753	0.85	24	-238	-0.10
SUNPHARMA	8,745	24,307	0.36	177	-1,867	-0.10
SUPREMEIND	4,198	7,168	0.59	10	165	0.06
SUZLON	10,161	25,122	0.40	27	156	0.17
SYNGENE	1,606	3,523	0.46	142	102	1.39
TATACONSUM	5,080	9,757	0.52	-74	-63	1.17
TATAELXSI	10,419	19,537	0.53	4,925	4,677	1.05
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,002	27,882	0.68	-216	-447	0.48
TATASTEEL	14,828	27,762	0.53	-61	714	-0.09
TATATECH	4,771	7,575	0.63	45	-26	-1.73
TCS	37,200	46,377	0.80	1,432	-321	-4.46
TECHM	8,800	10,408	0.85	118	315	0.37
TIINDIA	4,936	7,620	0.65	15	-61	-0.25
TITAGARH	2,734	5,731	0.48	17	127	0.13
TITAN	14,993	21,560	0.70	1,781	910	1.96
TMPV	38,131	77,142	0.49	-2,082	-2,849	0.73
TORNTPHARM	1,264	2,495	0.51	82	6	13.67
TORNTPOWER	1,853	3,595	0.52	13	82	0.16
TRENT	26,197	51,034	0.51	-40	-1,081	0.04
TVSMOTOR	9,445	9,047	1.04	360	-429	-0.84
ULTRACEMCO	11,703	21,221	0.55	220	-24	-9.17
UNIONBANK	5,329	8,401	0.63	77	467	0.16
UNITDSPR	8,253	10,281	0.80	63	240	0.26
UNOMINDA	2,804	5,472	0.51	14	102	0.14
UPL	4,888	6,950	0.70	13	114	0.11
VBL	9,309	18,832	0.49	-72	176	-0.41
VEDL	42,046	41,203	1.02	-591	1,403	-0.42
VOLTAS	6,946	10,553	0.66	197	1,698	0.12
WIPRO	12,197	14,574	0.84	362	443	0.82
YESBANK	6,345	13,129	0.48	-18	142	-0.13
ZYDUSLIFE	3,521	4,805	0.73	-16	12	-1.33

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 MIDCPNIFTY

MIDCPNIFTY

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

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