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

13811.85 +66.70 (0.49%)

L: 13727.85 H: 13827.85

Put-Call Ratio - MIDCPNIFTY

19 Dec 2025 02:25 PM IST

Live

Expiry

Put OI

69,497

Call OI

74,907

PCR

0.93

Put OI Chg

2,076

Call OI Chg

2,029

COI PCR

1.02

COI Strength

0.01

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

On 11:45 MIDCPNIFTY was trading at 13735.8 with pcr value 0.92

On 12:00 MIDCPNIFTY was trading at 13748.95 with pcr value 0.91

On 12:15 MIDCPNIFTY was trading at 13761.2 with pcr value 0.9

On 12:30 MIDCPNIFTY was trading at 13769.95 with pcr value 0.9

On 12:45 MIDCPNIFTY was trading at 13787.25 with pcr value 0.9

On 13:00 MIDCPNIFTY was trading at 13777.2 with pcr value 0.9

On 13:15 MIDCPNIFTY was trading at 13773.35 with pcr value 0.9

On 13:30 MIDCPNIFTY was trading at 13799.25 with pcr value 0.91

On 13:45 MIDCPNIFTY was trading at 13800.9 with pcr value 0.92

On 14:00 MIDCPNIFTY was trading at 13798.05 with pcr value 0.92

On 14:15 MIDCPNIFTY was trading at 13804.4 with pcr value 0.92

On 14:26 MIDCPNIFTY was trading at 13813.05 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	2,176	3,605	0.60	91	29	3.14
ABB	5,337	6,970	0.77	-1	-137	0.01
ABCAPITAL	4,697	8,349	0.56	4	244	0.02
ADANIENSOL	3,321	6,016	0.55	64	31	2.06
ADANIENT	29,105	46,412	0.63	2,523	2,692	0.94
ADANIGREEN	10,114	17,619	0.57	365	-831	-0.44
ADANIPORTS	9,674	19,081	0.51	457	452	1.01
ALKEM	1,357	2,066	0.66	122	-3	-40.67
AMBER	7,052	11,090	0.64	-216	94	-2.30
AMBUJACEM	8,364	11,432	0.73	53	-33	-1.61
ANGELONE	7,703	19,119	0.40	3	-1,549	-0.00
APLAPOLLO	2,350	2,935	0.80	119	332	0.36
APOLLOHOSP	9,477	17,976	0.53	612	-318	-1.92
ASHOKLEY	14,911	13,752	1.08	1,468	398	3.69
ASIANPAINT	16,763	33,325	0.50	121	-1,307	-0.09
ASTRAL	4,245	8,140	0.52	-23	107	-0.21
AUBANK	6,597	7,765	0.85	155	-63	-2.46
AUROPHARMA	5,346	11,894	0.45	602	1,766	0.34
AXISBANK	21,070	44,612	0.47	-666	-2,843	0.23
BAJAJ-AUTO	14,845	26,782	0.55	608	-1,733	-0.35
BAJAJFINSV	14,053	21,085	0.67	-31	-168	0.18
BAJFINANCE	22,628	37,745	0.60	-517	-2,025	0.26
BANDHANBNK	7,476	11,066	0.68	-146	-85	1.72
BANKBARODA	11,953	13,922	0.86	31	-585	-0.05
BANKINDIA	3,679	4,949	0.74	55	-54	-1.02
BDL	8,453	21,258	0.40	-63	-417	0.15
BEL	26,269	56,733	0.46	243	-2,689	-0.09
BHARATFORG	4,691	7,589	0.62	359	684	0.52
BHARTIARTL	19,230	41,112	0.47	609	2,056	0.30
BHEL	8,856	19,255	0.46	61	119	0.51
BIOCON	6,190	11,440	0.54	141	-310	-0.45
BLUESTARCO	2,591	3,246	0.80	832	1,394	0.60
BOSCHLTD	1,662	3,854	0.43	56	58	0.97
BPCL	5,502	9,518	0.58	87	136	0.64
BRITANNIA	6,491	9,387	0.69	315	-1,081	-0.29
BSE	16,846	33,092	0.51	-162	981	-0.17
CAMS	4,772	7,441	0.64	-24	-423	0.06
CANBK	12,064	16,073	0.75	-72	975	-0.07
CDSL	9,726	22,516	0.43	18	-361	-0.05
CGPOWER	4,472	10,453	0.43	-128	-222	0.58
CHOLAFIN	15,761	14,021	1.12	7,516	4,728	1.59
CIPLA	10,170	14,653	0.69	242	-381	-0.64
COALINDIA	13,279	13,293	1.00	215	246	0.87
COFORGE	9,121	21,339	0.43	304	1,668	0.18
COLPAL	7,724	11,922	0.65	-117	-616	0.19
CONCOR	7,947	10,301	0.77	194	122	1.59
CROMPTON	6,831	14,201	0.48	-32	744	-0.04
CUMMINSIND	3,983	7,473	0.53	140	1,089	0.13
CYIENT	2,371	3,700	0.64	14	22	0.64
DABUR	6,449	11,601	0.56	-44	-39	1.13
DALBHARAT	2,849	4,241	0.67	57	-138	-0.41
DELHIVERY	4,129	6,101	0.68	123	-198	-0.62
DIVISLAB	9,320	19,212	0.49	2,577	9,592	0.27
DIXON	35,240	73,225	0.48	-44	6,596	-0.01
DLF	16,603	25,692	0.65	-974	-303	3.21
DMART	7,145	16,675	0.43	-189	-740	0.26
DRREDDY	4,985	10,679	0.47	-202	297	-0.68
EICHERMOT	11,119	14,499	0.77	563	-513	-1.10
ETERNAL	18,216	34,875	0.52	-429	-1,392	0.31
EXIDEIND	4,383	6,419	0.68	28	-323	-0.09
FEDERALBNK	9,227	7,797	1.18	943	-93	-10.14
FORTIS	3,591	7,822	0.46	66	-205	-0.32
GAIL	12,901	19,250	0.67	-247	-793	0.31
GLENMARK	7,288	11,323	0.64	-498	781	-0.64
GMRAIRPORT	10,503	21,738	0.48	-15	860	-0.02
GODREJCP	3,765	5,592	0.67	-17	129	-0.13
GODREJPROP	6,902	11,140	0.62	-13	-899	0.01
GRASIM	9,280	8,374	1.11	-132	-187	0.71
HAL	28,153	52,657	0.53	-345	-2,160	0.16
HAVELLS	3,946	5,101	0.77	170	207	0.82
HCLTECH	13,018	26,265	0.50	1,247	5,732	0.22
HDFCAMC	8,342	10,884	0.77	-3,115	-734	4.24
HDFCBANK	43,067	74,564	0.58	277	-2,296	-0.12
HDFCLIFE	7,145	15,215	0.47	59	-1,121	-0.05
HEROMOTOCO	13,908	33,192	0.42	285	1,435	0.20
HFCL	4,761	11,497	0.41	-189	-57	3.32
HINDALCO	15,086	21,458	0.70	-548	822	-0.67
HINDPETRO	4,139	6,908	0.60	88	12	7.33
HINDUNILVR	9,594	20,426	0.47	-258	-320	0.81
HINDZINC	26,477	37,113	0.71	-246	1,475	-0.17
HUDCO	6,458	14,861	0.43	48	125	0.38
ICICIBANK	30,902	52,311	0.59	-536	2,002	-0.27
ICICIGI	3,173	6,115	0.52	-17	131	-0.13
ICICIPRULI	2,526	4,908	0.51	166	9	18.44
IDEA	14,350	24,615	0.58	267	-646	-0.41
IDFCFIRSTB	9,725	12,083	0.80	12	-68	-0.18
IEX	8,164	10,961	0.74	-140	-329	0.43
IIFL	2,689	4,456	0.60	32	110	0.29
INDHOTEL	6,291	9,777	0.64	11	-176	-0.06
INDIANB	4,912	12,119	0.41	90	250	0.36
INDIGO	54,638	96,358	0.57	1,309	-345	-3.79
INDUSINDBK	12,690	18,308	0.69	-104	191	-0.54
INDUSTOWER	8,434	14,330	0.59	-109	-204	0.53
INFY	48,328	71,336	0.68	1,049	7,298	0.14
INOXWIND	6,655	13,363	0.50	-63	-436	0.14
IOC	7,340	11,525	0.64	-345	-122	2.83
IRCTC	7,002	10,111	0.69	-71	-471	0.15
IREDA	5,241	10,299	0.51	114	5	22.80
IRFC	4,769	9,037	0.53	109	-307	-0.36
ITC	20,344	34,183	0.60	-60	-762	0.08
JINDALSTEL	5,807	9,399	0.62	156	214	0.73
JIOFIN	18,241	25,890	0.70	-13	-807	0.02
JSWENERGY	9,675	15,122	0.64	85	7	12.14
JSWSTEEL	11,819	27,937	0.42	7	314	0.02
JUBLFOOD	5,876	9,783	0.60	-171	-505	0.34
KALYANKJIL	4,892	9,281	0.53	128	-126	-1.02
KAYNES	28,674	70,197	0.41	-624	-4,832	0.13
KEI	2,997	3,870	0.77	425	122	3.48
KFINTECH	5,087	5,484	0.93	856	27	31.70
KOTAKBANK	17,566	20,910	0.84	-24	-144	0.17
KPITTECH	5,175	6,795	0.76	1,348	-7	-192.57
LAURUSLABS	6,128	9,644	0.64	873	379	2.30
LICHSGFIN	7,742	9,336	0.83	143	68	2.10
LICI	6,206	12,109	0.51	134	134	1.00
LODHA	4,904	10,496	0.47	32	-434	-0.07
LT	19,079	30,971	0.62	1,538	-643	-2.39
LTF	5,220	8,157	0.64	127	173	0.73
LTIM	5,516	7,653	0.72	778	1,422	0.55
LUPIN	5,572	7,046	0.79	298	396	0.75
M&M	17,145	31,457	0.55	42	-1,223	-0.03
MANAPPURAM	3,880	6,095	0.64	103	-235	-0.44
MANKIND	2,457	4,657	0.53	69	75	0.92
MARICO	3,208	4,828	0.66	42	-49	-0.86
MARUTI	29,834	31,198	0.96	1,744	81	21.53
MAXHEALTH	6,869	10,859	0.63	493	-241	-2.05
MAZDOCK	10,008	22,740	0.44	-114	196	-0.58
MCX	16,093	22,017	0.73	1,343	-294	-4.57
MFSL	2,478	4,505	0.55	78	131	0.60
MOTHERSON	6,546	8,915	0.73	499	23	21.70
MPHASIS	4,082	5,312	0.77	219	35	6.26
MUTHOOTFIN	5,521	10,922	0.51	24	324	0.07
NATIONALUM	6,778	8,541	0.79	-86	303	-0.28
NAUKRI	5,855	7,769	0.75	59	537	0.11
NBCC	3,450	7,585	0.45	69	-1,518	-0.05
NCC	3,793	8,960	0.42	57	-36	-1.58
NESTLEIND	4,370	14,558	0.30	54	290	0.19
NHPC	3,270	6,863	0.48	94	-269	-0.35
NMDC	10,253	14,248	0.72	227	471	0.48
NTPC	14,072	23,325	0.60	-65	89	-0.74
NUVAMA	3,078	7,194	0.43	145	1,352	0.11
NYKAA	3,003	6,996	0.43	193	-155	-1.25
OBEROIRLTY	3,761	5,089	0.74	57	-64	-0.89
OFSS	6,565	11,564	0.57	555	460	1.21
OIL	2,533	4,762	0.53	-42	-20	2.10
ONGC	10,666	26,788	0.40	-78	82	-0.95
PAGEIND	3,578	9,247	0.39	19	688	0.03
PATANJALI	4,644	8,770	0.53	-83	335	-0.25
PAYTM	8,924	13,051	0.68	909	-836	-1.09
PERSISTENT	7,247	11,754	0.62	416	748	0.56
PETRONET	8,989	8,196	1.10	-13	-348	0.04
PFC	22,701	33,183	0.68	1,292	-1,583	-0.82
PGEL	7,071	11,358	0.62	-658	-436	1.51
PHOENIXLTD	2,003	3,309	0.61	232	-141	-1.65
PIDILITIND	1,942	2,992	0.65	16	238	0.07
PIIND	3,727	5,756	0.65	-41	120	-0.34
PNB	11,595	20,855	0.56	15	-124	-0.12
PNBHOUSING	7,114	11,337	0.63	221	-590	-0.37
POLICYBZR	6,626	7,607	0.87	778	-767	-1.01
POLYCAB	7,214	8,126	0.89	2,489	367	6.78
POWERGRID	10,811	16,697	0.65	49	-1,171	-0.04
POWERINDIA	4,708	13,288	0.35	610	351	1.74
PPLPHARMA	3,005	7,448	0.40	2	277	0.01
PRESTIGE	2,842	4,190	0.68	96	-126	-0.76
RBLBANK	4,852	8,022	0.60	21	-3	-7.00
RECLTD	21,484	32,892	0.65	-229	-360	0.64
RELIANCE	50,711	86,533	0.59	1,460	-8,187	-0.18
RVNL	6,118	11,723	0.52	11	-1,238	-0.01
SAIL	6,091	11,641	0.52	104	803	0.13
SAMMAANCAP	8,865	13,188	0.67	-417	-381	1.09
SBICARD	5,112	6,753	0.76	323	-274	-1.18
SBILIFE	5,697	11,241	0.51	190	-278	-0.68
SBIN	39,545	57,987	0.68	-1,786	-288	6.20
SHREECEM	2,538	6,508	0.39	276	633	0.44
SHRIRAMFIN	23,616	27,040	0.87	8,139	4,034	2.02
SIEMENS	8,641	18,903	0.46	-13	-752	0.02
SOLARINDS	4,297	10,887	0.39	108	317	0.34
SONACOMS	2,696	5,167	0.52	132	-438	-0.30
SRF	7,573	8,323	0.91	181	-668	-0.27
SUNPHARMA	8,996	24,105	0.37	428	-2,069	-0.21
SUPREMEIND	4,121	7,214	0.57	-67	211	-0.32
SUZLON	10,001	23,850	0.42	-133	-1,116	0.12
SYNGENE	1,619	3,526	0.46	155	105	1.48
TATACONSUM	5,249	9,872	0.53	95	52	1.83
TATAELXSI	19,346	22,616	0.86	13,852	7,756	1.79
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	18,972	27,367	0.69	-246	-962	0.26
TATASTEEL	14,890	27,578	0.54	1	530	0.00
TATATECH	4,884	7,243	0.67	158	-358	-0.44
TCS	35,511	46,393	0.77	-257	-305	0.84
TECHM	8,718	10,517	0.83	36	424	0.08
TIINDIA	4,972	7,365	0.68	51	-316	-0.16
TITAGARH	2,688	5,643	0.48	-29	39	-0.74
TITAN	14,988	21,878	0.69	1,776	1,228	1.45
TMPV	36,945	76,658	0.48	-3,268	-3,333	0.98
TORNTPHARM	1,255	2,660	0.47	73	171	0.43
TORNTPOWER	1,936	3,196	0.61	96	-317	-0.30
TRENT	25,893	50,011	0.52	-344	-2,104	0.16
TVSMOTOR	9,941	9,078	1.10	856	-398	-2.15
ULTRACEMCO	11,714	20,776	0.56	231	-469	-0.49
UNIONBANK	5,439	8,625	0.63	187	691	0.27
UNITDSPR	8,236	10,070	0.82	46	29	1.59
UNOMINDA	3,040	5,542	0.55	250	172	1.45
UPL	4,940	6,826	0.72	65	-10	-6.50
VBL	9,251	19,000	0.49	-130	344	-0.38
VEDL	41,949	40,517	1.04	-688	717	-0.96
VOLTAS	6,464	11,786	0.55	-285	2,931	-0.10
WIPRO	12,102	14,390	0.84	267	259	1.03
YESBANK	6,313	13,135	0.48	-50	148	-0.34
ZYDUSLIFE	3,544	5,048	0.70	7	255	0.03

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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