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.

TCS

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.

Tata Consultancy Serv Lt

3309.2 +28.40 (0.87%)

L: 3290 H: 3317.9

Put-Call Ratio - TCS

19 Dec 2025 11:15 AM IST

Live

Expiry

Put OI

37,142

Call OI

46,457

PCR

0.80

Put OI Chg

1,374

Call OI Chg

-241

COI PCR

-5.70

COI Strength

1.00

Interval

On 9:30 TCS was trading at 3305.3 with pcr value 0.75

On 9:45 TCS was trading at 3312.4 with pcr value 0.77

On 10:00 TCS was trading at 3302.4 with pcr value 0.76

On 10:15 TCS was trading at 3307.4 with pcr value 0.78

On 10:30 TCS was trading at 3307.3 with pcr value 0.78

On 10:45 TCS was trading at 3314.4 with pcr value 0.79

On 11:00 TCS was trading at 3313 with pcr value 0.8

On 11:15 TCS was trading at 3309.6 with pcr value 0.8

On 11:16 TCS was trading at 3309.1 with pcr value 0.8

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	2,092	3,608	0.58	7	32	0.22
ABB	5,246	6,934	0.76	-92	-173	0.53
ABCAPITAL	4,622	8,029	0.58	-71	-76	0.93
ADANIENSOL	3,278	6,083	0.54	21	98	0.21
ADANIENT	27,008	45,825	0.59	426	2,105	0.20
ADANIGREEN	9,747	18,099	0.54	-2	-351	0.01
ADANIPORTS	9,289	18,918	0.49	72	289	0.25
ALKEM	1,372	2,094	0.66	137	25	5.48
AMBER	7,227	11,149	0.65	-41	153	-0.27
AMBUJACEM	8,298	11,237	0.74	-13	-228	0.06
ANGELONE	7,911	20,397	0.39	211	-271	-0.78
APLAPOLLO	2,412	3,007	0.80	181	404	0.45
APOLLOHOSP	9,016	18,560	0.49	151	266	0.57
ASHOKLEY	14,964	13,865	1.08	1,521	511	2.98
ASIANPAINT	16,844	34,046	0.49	202	-586	-0.34
ASTRAL	4,361	8,322	0.52	93	289	0.32
AUBANK	6,446	7,975	0.81	4	147	0.03
AUROPHARMA	5,222	11,722	0.45	478	1,594	0.30
AXISBANK	21,408	45,820	0.47	-328	-1,635	0.20
BAJAJ-AUTO	14,424	27,718	0.52	187	-797	-0.23
BAJAJFINSV	14,067	20,861	0.67	-17	-392	0.04
BAJFINANCE	22,594	38,195	0.59	-551	-1,575	0.35
BANDHANBNK	7,495	10,913	0.69	-127	-238	0.53
BANKBARODA	11,899	14,187	0.84	-23	-320	0.07
BANKINDIA	3,610	5,007	0.72	-14	4	-3.50
BDL	8,465	22,202	0.38	-51	527	-0.10
BEL	26,291	57,581	0.46	265	-1,841	-0.14
BHARATFORG	4,591	7,515	0.61	259	610	0.42
BHARTIARTL	19,037	41,189	0.46	416	2,133	0.20
BHEL	8,764	19,508	0.45	-31	372	-0.08
BIOCON	6,253	11,283	0.55	204	-467	-0.44
BLUESTARCO	2,006	2,162	0.93	247	310	0.80
BOSCHLTD	1,634	3,839	0.43	28	43	0.65
BPCL	5,492	9,352	0.59	77	-30	-2.57
BRITANNIA	6,267	9,827	0.64	91	-641	-0.14
BSE	17,067	33,028	0.52	59	917	0.06
CAMS	4,785	7,647	0.63	-11	-217	0.05
CANBK	12,301	15,726	0.78	165	628	0.26
CDSL	9,691	22,923	0.42	-17	46	-0.37
CGPOWER	4,480	10,649	0.42	-120	-26	4.62
CHOLAFIN	9,260	9,865	0.94	1,015	572	1.77
CIPLA	10,343	14,610	0.71	415	-424	-0.98
COALINDIA	13,311	13,246	1.00	247	199	1.24
COFORGE	9,221	20,543	0.45	404	872	0.46
COLPAL	7,815	12,398	0.63	-26	-140	0.19
CONCOR	7,789	10,258	0.76	36	79	0.46
CROMPTON	6,836	14,140	0.48	-27	683	-0.04
CUMMINSIND	3,969	6,919	0.57	126	535	0.24
CYIENT	2,345	3,629	0.65	-12	-49	0.24
DABUR	6,465	11,715	0.55	-28	75	-0.37
DALBHARAT	2,815	4,417	0.64	23	38	0.61
DELHIVERY	4,093	6,313	0.65	87	14	6.21
DIVISLAB	9,060	16,303	0.56	2,317	6,683	0.35
DIXON	35,862	71,397	0.50	578	4,768	0.12
DLF	16,724	25,738	0.65	-853	-257	3.32
DMART	7,275	17,279	0.42	-59	-136	0.43
DRREDDY	5,372	10,647	0.50	185	265	0.70
EICHERMOT	11,097	14,978	0.74	541	-34	-15.91
ETERNAL	18,234	35,613	0.51	-411	-654	0.63
EXIDEIND	4,348	6,794	0.64	-7	52	-0.13
FEDERALBNK	8,932	7,880	1.13	648	-10	-64.80
FORTIS	3,722	8,127	0.46	197	100	1.97
GAIL	12,966	19,559	0.66	-182	-484	0.38
GLENMARK	7,300	10,831	0.67	-486	289	-1.68
GMRAIRPORT	10,502	21,488	0.49	-16	610	-0.03
GODREJCP	3,774	5,562	0.68	-8	99	-0.08
GODREJPROP	6,943	11,878	0.58	28	-161	-0.17
GRASIM	9,442	8,638	1.09	30	77	0.39
HAL	28,212	54,180	0.52	-286	-637	0.45
HAVELLS	3,917	5,013	0.78	141	119	1.18
HCLTECH	12,822	23,912	0.54	1,051	3,379	0.31
HDFCAMC	9,319	11,686	0.80	-2,138	68	-31.44
HDFCBANK	43,466	75,483	0.58	676	-1,377	-0.49
HDFCLIFE	7,115	16,155	0.44	29	-181	-0.16
HEROMOTOCO	14,120	32,718	0.43	497	961	0.52
HFCL	4,928	11,574	0.43	-22	20	-1.10
HINDALCO	15,333	20,715	0.74	-301	79	-3.81
HINDPETRO	4,068	6,949	0.59	17	53	0.32
HINDUNILVR	9,686	20,647	0.47	-166	-99	1.68
HINDZINC	26,251	36,754	0.71	-329	1,116	-0.29
HUDCO	6,417	14,819	0.43	7	83	0.08
ICICIBANK	31,216	52,197	0.60	-222	1,888	-0.12
ICICIGI	3,116	6,165	0.51	-74	181	-0.41
ICICIPRULI	2,409	4,925	0.49	49	26	1.88
IDEA	14,172	24,922	0.57	89	-339	-0.26
IDFCFIRSTB	9,652	12,333	0.78	-61	182	-0.34
IEX	8,310	11,330	0.73	6	40	0.15
IIFL	2,669	4,434	0.60	12	88	0.14
INDHOTEL	6,308	9,710	0.65	28	-243	-0.11
INDIANB	4,791	12,180	0.39	-31	311	-0.10
INDIGO	53,379	97,701	0.55	50	998	0.05
INDUSINDBK	12,924	18,932	0.68	130	815	0.16
INDUSTOWER	8,432	14,334	0.59	-111	-200	0.56
INFY	50,535	70,034	0.72	3,256	5,996	0.54
INOXWIND	6,716	13,562	0.50	-2	-237	0.01
IOC	7,511	11,761	0.64	-174	114	-1.53
IRCTC	7,042	10,407	0.68	-31	-175	0.18
IREDA	5,123	10,383	0.49	-4	89	-0.04
IRFC	4,700	9,436	0.50	40	92	0.43
ITC	20,440	33,934	0.60	36	-338	-0.11
JINDALSTEL	5,645	9,323	0.61	-6	138	-0.04
JIOFIN	18,300	26,386	0.69	46	-311	-0.15
JSWENERGY	9,609	15,204	0.63	19	89	0.21
JSWSTEEL	11,713	27,634	0.42	-99	11	-9.00
JUBLFOOD	5,928	10,415	0.57	-119	127	-0.94
KALYANKJIL	4,778	9,422	0.51	14	15	0.93
KAYNES	29,894	76,539	0.39	596	1,510	0.39
KEI	2,643	4,165	0.63	71	417	0.17
KFINTECH	4,261	5,965	0.71	30	508	0.06
KOTAKBANK	17,927	20,945	0.86	337	-109	-3.09
KPITTECH	3,865	6,807	0.57	38	5	7.60
LAURUSLABS	6,375	9,684	0.66	1,120	419	2.67
LICHSGFIN	7,636	9,275	0.82	37	7	5.29
LICI	6,116	11,817	0.52	44	-158	-0.28
LODHA	4,939	10,734	0.46	67	-196	-0.34
LT	18,571	30,971	0.60	1,030	-643	-1.60
LTF	5,123	7,977	0.64	30	-7	-4.29
LTIM	5,969	7,834	0.76	1,231	1,603	0.77
LUPIN	5,467	6,616	0.83	193	-34	-5.68
M&M	17,155	32,634	0.53	52	-46	-1.13
MANAPPURAM	3,692	6,258	0.59	-85	-72	1.18
MANKIND	2,468	4,561	0.54	80	-21	-3.81
MARICO	3,192	5,073	0.63	26	196	0.13
MARUTI	28,911	31,654	0.91	821	537	1.53
MAXHEALTH	6,594	11,645	0.57	218	545	0.40
MAZDOCK	10,157	23,292	0.44	35	748	0.05
MCX	16,037	22,997	0.70	1,287	686	1.88
MFSL	2,416	4,438	0.54	16	64	0.25
MOTHERSON	6,415	8,859	0.72	368	-33	-11.15
MPHASIS	4,049	5,310	0.76	186	33	5.64
MUTHOOTFIN	5,473	10,704	0.51	-24	106	-0.23
NATIONALUM	6,887	8,521	0.81	23	283	0.08
NAUKRI	5,822	7,712	0.75	26	480	0.05
NBCC	3,476	8,902	0.39	95	-201	-0.47
NCC	3,744	9,075	0.41	8	79	0.10
NESTLEIND	4,445	14,481	0.31	129	213	0.61
NHPC	3,240	7,185	0.45	64	53	1.21
NMDC	10,148	14,297	0.71	122	520	0.23
NTPC	14,070	23,219	0.61	-67	-17	3.87
NUVAMA	3,125	6,623	0.47	192	781	0.25
NYKAA	2,791	7,222	0.39	-19	71	-0.27
OBEROIRLTY	3,827	5,214	0.73	123	61	2.02
OFSS	6,435	11,812	0.54	425	708	0.60
OIL	2,515	4,747	0.53	-60	-35	1.71
ONGC	10,650	26,792	0.40	-94	86	-1.09
PAGEIND	3,520	9,447	0.37	-39	888	-0.04
PATANJALI	4,783	8,422	0.57	56	-13	-4.31
PAYTM	8,464	14,010	0.60	449	123	3.65
PERSISTENT	7,362	11,883	0.62	531	877	0.61
PETRONET	9,025	8,410	1.07	23	-134	-0.17
PFC	22,495	33,375	0.67	1,086	-1,391	-0.78
PGEL	7,311	11,998	0.61	-418	204	-2.05
PHOENIXLTD	1,762	3,392	0.52	-9	-58	0.16
PIDILITIND	1,934	2,818	0.69	8	64	0.13
PIIND	3,777	5,664	0.67	9	28	0.32
PNB	11,632	20,922	0.56	52	-57	-0.92
PNBHOUSING	6,903	11,874	0.58	10	-53	-0.19
POLICYBZR	6,034	8,127	0.74	186	-247	-0.75
POLYCAB	6,014	8,625	0.70	1,289	866	1.49
POWERGRID	10,593	17,539	0.60	-169	-329	0.51
POWERINDIA	4,699	14,086	0.33	601	1,149	0.52
PPLPHARMA	2,994	7,240	0.41	-9	69	-0.13
PRESTIGE	2,807	4,243	0.66	61	-73	-0.84
RBLBANK	4,859	7,996	0.61	28	-29	-0.97
RECLTD	21,441	33,097	0.65	-272	-155	1.75
RELIANCE	52,098	87,941	0.59	2,847	-6,779	-0.42
RVNL	6,086	12,693	0.48	-21	-268	0.08
SAIL	5,926	11,523	0.51	-61	685	-0.09
SAMMAANCAP	8,936	13,282	0.67	-346	-287	1.21
SBICARD	4,814	7,133	0.67	25	106	0.24
SBILIFE	5,622	11,456	0.49	115	-63	-1.83
SBIN	40,304	58,350	0.69	-1,027	75	-13.69
SHREECEM	2,648	6,564	0.40	386	689	0.56
SHRIRAMFIN	15,779	24,388	0.65	302	1,382	0.22
SIEMENS	8,891	19,421	0.46	237	-234	-1.01
SOLARINDS	4,175	11,244	0.37	-14	674	-0.02
SONACOMS	2,616	5,690	0.46	52	85	0.61
SRF	7,414	8,857	0.84	22	-134	-0.16
SUNPHARMA	8,753	24,310	0.36	185	-1,864	-0.10
SUPREMEIND	4,200	7,167	0.59	12	164	0.07
SUZLON	10,167	25,094	0.41	33	128	0.26
SYNGENE	1,608	3,486	0.46	144	65	2.22
TATACONSUM	5,113	9,777	0.52	-41	-43	0.95
TATAELXSI	9,656	20,030	0.48	4,162	5,170	0.81
TATAMOTORS	0	0	0.00	6	-117	-0.05
TATAPOWER	19,068	27,902	0.68	-150	-427	0.35
TATASTEEL	14,821	27,763	0.53	-68	715	-0.10
TATATECH	4,758	7,551	0.63	32	-50	-0.64
TCS	37,142	46,457	0.80	1,374	-241	-5.70
TECHM	8,795	10,410	0.84	113	317	0.36
TIINDIA	4,926	7,640	0.64	5	-41	-0.12
TITAGARH	2,727	5,696	0.48	10	92	0.11
TITAN	15,072	21,466	0.70	1,860	816	2.28
TMPV	38,239	77,227	0.50	-1,974	-2,764	0.71
TORNTPHARM	1,266	2,493	0.51	84	4	21.00
TORNTPOWER	1,842	3,575	0.52	2	62	0.03
TRENT	26,205	51,000	0.51	-32	-1,115	0.03
TVSMOTOR	9,333	9,098	1.03	248	-378	-0.66
ULTRACEMCO	11,690	21,212	0.55	207	-33	-6.27
UNIONBANK	5,338	8,383	0.64	86	449	0.19
UNITDSPR	8,270	10,238	0.81	80	197	0.41
UNOMINDA	2,800	5,461	0.51	10	91	0.11
UPL	4,877	6,973	0.70	2	137	0.01
VBL	9,263	18,872	0.49	-118	216	-0.55
VEDL	42,089	41,175	1.02	-548	1,375	-0.40
VOLTAS	6,979	10,524	0.66	230	1,669	0.14
WIPRO	12,241	14,546	0.84	406	415	0.98
YESBANK	6,348	13,123	0.48	-15	136	-0.11
ZYDUSLIFE	3,523	4,795	0.73	-14	2	-7.00

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 TCS

TCS

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

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