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.

NTPC

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.

Ntpc Ltd

317.8 -0.70 (-0.22%)

L: 317.5 H: 320

Put-Call Ratio - NTPC

19 Dec 2025 11:05 AM IST

Live

Expiry

Put OI

14,076

Call OI

23,190

PCR

0.61

Put OI Chg

-61

Call OI Chg

-46

COI PCR

1.33

COI Strength

-0.14

Interval

On 9:30 NTPC was trading at 319.6 with pcr value 0.6

On 9:45 NTPC was trading at 319.25 with pcr value 0.6

On 10:00 NTPC was trading at 318.9 with pcr value 0.6

On 10:15 NTPC was trading at 318.2 with pcr value 0.6

On 10:30 NTPC was trading at 318 with pcr value 0.6

On 10:45 NTPC was trading at 317.65 with pcr value 0.61

On 11:00 NTPC was trading at 318.05 with pcr value 0.61

On 11:06 NTPC was trading at 317.8 with pcr value 0.61

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	3,593	0.58	3	17	0.18
ABB	5,233	6,957	0.75	-105	-150	0.70
ABCAPITAL	4,616	8,036	0.57	-77	-69	1.12
ADANIENSOL	3,272	6,077	0.54	15	92	0.16
ADANIENT	26,900	45,729	0.59	318	2,009	0.16
ADANIGREEN	9,752	18,217	0.54	3	-233	-0.01
ADANIPORTS	9,302	18,914	0.49	85	285	0.30
ALKEM	1,290	2,080	0.62	55	11	5.00
AMBER	7,186	11,186	0.64	-82	190	-0.43
AMBUJACEM	8,301	11,328	0.73	-10	-137	0.07
ANGELONE	7,902	20,248	0.39	202	-420	-0.48
APLAPOLLO	2,419	2,991	0.81	188	388	0.48
APOLLOHOSP	9,024	18,484	0.49	159	190	0.84
ASHOKLEY	15,030	13,807	1.09	1,587	453	3.50
ASIANPAINT	16,834	34,106	0.49	192	-526	-0.37
ASTRAL	4,366	8,338	0.52	98	305	0.32
AUBANK	6,482	7,914	0.82	40	86	0.47
AUROPHARMA	5,267	11,659	0.45	523	1,531	0.34
AXISBANK	21,459	45,848	0.47	-277	-1,607	0.17
BAJAJ-AUTO	14,318	27,866	0.51	81	-649	-0.12
BAJAJFINSV	14,084	20,868	0.67	0	-385	0.00
BAJFINANCE	22,613	38,088	0.59	-532	-1,682	0.32
BANDHANBNK	7,485	10,949	0.68	-137	-202	0.68
BANKBARODA	11,921	14,200	0.84	-1	-307	0.00
BANKINDIA	3,609	5,011	0.72	-15	8	-1.88
BDL	8,464	22,120	0.38	-52	445	-0.12
BEL	26,287	57,617	0.46	261	-1,805	-0.14
BHARATFORG	4,573	7,348	0.62	241	443	0.54
BHARTIARTL	19,039	41,081	0.46	418	2,025	0.21
BHEL	8,752	19,494	0.45	-43	358	-0.12
BIOCON	6,233	11,228	0.56	184	-522	-0.35
BLUESTARCO	1,996	2,034	0.98	237	182	1.30
BOSCHLTD	1,635	3,839	0.43	29	43	0.67
BPCL	5,492	9,354	0.59	77	-28	-2.75
BRITANNIA	6,223	9,843	0.63	47	-625	-0.08
BSE	17,200	32,891	0.52	192	780	0.25
CAMS	4,816	7,645	0.63	20	-219	-0.09
CANBK	12,373	15,755	0.79	237	657	0.36
CDSL	9,662	22,921	0.42	-46	44	-1.05
CGPOWER	4,492	10,641	0.42	-108	-34	3.18
CHOLAFIN	9,228	9,824	0.94	983	531	1.85
CIPLA	10,380	14,565	0.71	452	-469	-0.96
COALINDIA	13,332	13,143	1.01	268	96	2.79
COFORGE	9,228	20,480	0.45	411	809	0.51
COLPAL	7,837	12,726	0.62	-4	188	-0.02
CONCOR	7,789	10,267	0.76	36	88	0.41
CROMPTON	6,818	14,230	0.48	-45	773	-0.06
CUMMINSIND	3,893	6,801	0.57	50	417	0.12
CYIENT	2,346	3,645	0.64	-11	-33	0.33
DABUR	6,464	11,716	0.55	-29	76	-0.38
DALBHARAT	2,817	4,427	0.64	25	48	0.52
DELHIVERY	4,078	6,315	0.65	72	16	4.50
DIVISLAB	9,013	16,138	0.56	2,270	6,518	0.35
DIXON	35,750	70,786	0.51	466	4,157	0.11
DLF	16,780	25,736	0.65	-797	-259	3.08
DMART	7,280	17,286	0.42	-54	-129	0.42
DRREDDY	5,383	10,597	0.51	196	215	0.91
EICHERMOT	11,268	15,075	0.75	712	63	11.30
ETERNAL	18,197	35,645	0.51	-448	-622	0.72
EXIDEIND	4,329	6,784	0.64	-26	42	-0.62
FEDERALBNK	8,937	7,863	1.14	653	-27	-24.19
FORTIS	3,725	8,154	0.46	200	127	1.57
GAIL	12,973	19,594	0.66	-175	-449	0.39
GLENMARK	7,304	10,480	0.70	-482	-62	7.77
GMRAIRPORT	10,495	21,495	0.49	-23	617	-0.04
GODREJCP	3,784	5,547	0.68	2	84	0.02
GODREJPROP	6,934	11,940	0.58	19	-99	-0.19
GRASIM	9,456	8,635	1.10	44	74	0.59
HAL	28,258	54,125	0.52	-240	-692	0.35
HAVELLS	3,896	4,942	0.79	120	48	2.50
HCLTECH	12,808	23,763	0.54	1,037	3,230	0.32
HDFCAMC	9,328	11,390	0.82	-2,129	-228	9.34
HDFCBANK	44,020	75,386	0.58	1,230	-1,474	-0.83
HDFCLIFE	7,099	16,208	0.44	13	-128	-0.10
HEROMOTOCO	14,139	32,616	0.43	516	859	0.60
HFCL	4,932	11,566	0.43	-18	12	-1.50
HINDALCO	15,402	20,477	0.75	-232	-159	1.46
HINDPETRO	4,055	6,989	0.58	4	93	0.04
HINDUNILVR	9,685	20,645	0.47	-167	-101	1.65
HINDZINC	26,313	36,715	0.72	-267	1,077	-0.25
HUDCO	6,418	14,830	0.43	8	94	0.09
ICICIBANK	31,199	52,205	0.60	-239	1,896	-0.13
ICICIGI	3,108	6,158	0.50	-82	174	-0.47
ICICIPRULI	2,406	4,892	0.49	46	-7	-6.57
IDEA	14,140	25,061	0.56	57	-200	-0.28
IDFCFIRSTB	9,651	12,319	0.78	-62	168	-0.37
IEX	8,303	11,332	0.73	-1	42	-0.02
IIFL	2,671	4,434	0.60	14	88	0.16
INDHOTEL	6,311	9,689	0.65	31	-264	-0.11
INDIANB	4,783	12,063	0.40	-39	194	-0.20
INDIGO	53,538	97,508	0.55	209	805	0.26
INDUSINDBK	12,925	18,913	0.68	131	796	0.16
INDUSTOWER	8,427	14,327	0.59	-116	-207	0.56
INFY	50,434	70,060	0.72	3,155	6,022	0.52
INOXWIND	6,727	13,599	0.49	9	-200	-0.04
IOC	7,512	11,730	0.64	-173	83	-2.08
IRCTC	7,055	10,418	0.68	-18	-164	0.11
IREDA	5,124	10,352	0.49	-3	58	-0.05
IRFC	4,696	9,445	0.50	36	101	0.36
ITC	20,457	33,886	0.60	53	-386	-0.14
JINDALSTEL	5,625	9,248	0.61	-26	63	-0.41
JIOFIN	18,295	26,362	0.69	41	-335	-0.12
JSWENERGY	9,614	15,177	0.63	24	62	0.39
JSWSTEEL	11,720	27,647	0.42	-92	24	-3.83
JUBLFOOD	5,940	10,471	0.57	-107	183	-0.58
KALYANKJIL	4,751	9,426	0.50	-13	19	-0.68
KAYNES	29,849	76,569	0.39	551	1,540	0.36
KEI	2,647	4,148	0.64	75	400	0.19
KFINTECH	4,260	5,972	0.71	29	515	0.06
KOTAKBANK	17,930	21,000	0.85	340	-54	-6.30
KPITTECH	3,867	6,802	0.57	40	0	0.00
LAURUSLABS	6,312	9,769	0.65	1,057	504	2.10
LICHSGFIN	7,620	9,282	0.82	21	14	1.50
LICI	6,104	11,805	0.52	32	-170	-0.19
LODHA	4,929	10,746	0.46	57	-184	-0.31
LT	18,520	31,034	0.60	979	-580	-1.69
LTF	5,126	7,965	0.64	33	-19	-1.74
LTIM	5,977	7,841	0.76	1,239	1,610	0.77
LUPIN	5,446	6,589	0.83	172	-61	-2.82
M&M	17,158	32,681	0.53	55	1	55.00
MANAPPURAM	3,704	6,290	0.59	-73	-40	1.82
MANKIND	2,462	4,567	0.54	74	-15	-4.93
MARICO	3,202	5,059	0.63	36	182	0.20
MARUTI	28,845	31,571	0.91	755	454	1.66
MAXHEALTH	6,598	11,787	0.56	222	687	0.32
MAZDOCK	10,165	23,231	0.44	43	687	0.06
MCX	16,205	22,803	0.71	1,455	492	2.96
MFSL	2,416	4,411	0.55	16	37	0.43
MOTHERSON	6,426	8,855	0.73	379	-37	-10.24
MPHASIS	4,043	5,319	0.76	180	42	4.29
MUTHOOTFIN	5,465	10,702	0.51	-32	104	-0.31
NATIONALUM	6,909	8,442	0.82	45	204	0.22
NAUKRI	5,815	7,650	0.76	19	418	0.05
NBCC	3,458	8,921	0.39	77	-182	-0.42
NCC	3,739	9,074	0.41	3	78	0.04
NESTLEIND	4,442	14,503	0.31	126	235	0.54
NHPC	3,244	7,190	0.45	68	58	1.17
NMDC	10,116	14,298	0.71	90	521	0.17
NTPC	14,072	23,172	0.61	-65	-64	1.02
NUVAMA	3,164	6,546	0.48	231	704	0.33
NYKAA	2,780	7,225	0.38	-30	74	-0.41
OBEROIRLTY	3,847	5,214	0.74	143	61	2.34
OFSS	6,438	11,837	0.54	428	733	0.58
OIL	2,513	4,764	0.53	-62	-18	3.44
ONGC	10,648	26,792	0.40	-96	86	-1.12
PAGEIND	3,507	9,300	0.38	-52	741	-0.07
PATANJALI	4,729	8,340	0.57	2	-95	-0.02
PAYTM	8,429	13,991	0.60	414	104	3.98
PERSISTENT	7,351	11,925	0.62	520	919	0.57
PETRONET	9,015	8,459	1.07	13	-85	-0.15
PFC	22,510	33,287	0.68	1,101	-1,479	-0.74
PGEL	7,339	11,985	0.61	-390	191	-2.04
PHOENIXLTD	1,761	3,393	0.52	-10	-57	0.18
PIDILITIND	1,939	2,818	0.69	13	64	0.20
PIIND	3,784	5,676	0.67	16	40	0.40
PNB	11,614	20,889	0.56	34	-90	-0.38
PNBHOUSING	6,909	11,864	0.58	16	-63	-0.25
POLICYBZR	6,007	8,156	0.74	159	-218	-0.73
POLYCAB	5,966	8,566	0.70	1,241	807	1.54
POWERGRID	10,595	17,546	0.60	-167	-322	0.52
POWERINDIA	4,700	14,095	0.33	602	1,158	0.52
PPLPHARMA	2,989	7,222	0.41	-14	51	-0.27
PRESTIGE	2,804	4,219	0.66	58	-97	-0.60
RBLBANK	4,858	8,002	0.61	27	-23	-1.17
RECLTD	21,506	32,948	0.65	-207	-304	0.68
RELIANCE	52,097	88,206	0.59	2,846	-6,514	-0.44
RVNL	6,103	12,764	0.48	-4	-197	0.02
SAIL	5,922	11,564	0.51	-65	726	-0.09
SAMMAANCAP	8,941	13,292	0.67	-341	-277	1.23
SBICARD	4,809	7,094	0.68	20	67	0.30
SBILIFE	5,761	11,619	0.50	254	100	2.54
SBIN	40,641	58,434	0.70	-690	159	-4.34
SHREECEM	2,612	6,566	0.40	350	691	0.51
SHRIRAMFIN	15,830	24,470	0.65	353	1,464	0.24
SIEMENS	8,876	19,355	0.46	222	-300	-0.74
SOLARINDS	4,179	11,233	0.37	-10	663	-0.02
SONACOMS	2,601	5,675	0.46	37	70	0.53
SRF	7,397	8,879	0.83	5	-112	-0.04
SUNPHARMA	8,811	24,323	0.36	243	-1,851	-0.13
SUPREMEIND	4,231	7,209	0.59	43	206	0.21
SUZLON	10,169	25,022	0.41	35	56	0.63
SYNGENE	1,628	3,500	0.47	164	79	2.08
TATACONSUM	5,143	9,782	0.53	-11	-38	0.29
TATAELXSI	9,603	19,901	0.48	4,109	5,041	0.82
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,058	28,027	0.68	-160	-302	0.53
TATASTEEL	14,793	27,737	0.53	-96	689	-0.14
TATATECH	4,746	7,557	0.63	20	-44	-0.45
TCS	37,130	46,683	0.80	1,362	-15	-90.80
TECHM	8,781	10,416	0.84	99	323	0.31
TIINDIA	4,922	7,654	0.64	1	-27	-0.04
TITAGARH	2,719	5,710	0.48	2	106	0.02
TITAN	14,812	21,396	0.69	1,600	746	2.14
TMPV	38,217	77,237	0.49	-1,996	-2,754	0.72
TORNTPHARM	1,264	2,505	0.50	82	16	5.13
TORNTPOWER	1,839	3,562	0.52	-1	49	-0.02
TRENT	26,199	51,040	0.51	-38	-1,075	0.04
TVSMOTOR	9,288	9,122	1.02	203	-354	-0.57
ULTRACEMCO	11,680	21,213	0.55	197	-32	-6.16
UNIONBANK	5,338	8,351	0.64	86	417	0.21
UNITDSPR	8,246	10,184	0.81	56	143	0.39
UNOMINDA	2,796	5,445	0.51	6	75	0.08
UPL	4,890	6,923	0.71	15	87	0.17
VBL	9,270	18,785	0.49	-111	129	-0.86
VEDL	42,100	41,154	1.02	-537	1,354	-0.40
VOLTAS	6,987	10,440	0.67	238	1,585	0.15
WIPRO	12,268	14,478	0.85	433	347	1.25
YESBANK	6,350	13,108	0.48	-13	121	-0.11
ZYDUSLIFE	3,514	4,748	0.74	-23	-45	0.51

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 NTPC

NTPC

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

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