The Nifty 50 gained 370 points to close at 23,810.85 on Tuesday. NiftyTrader’s F&O snapshot identified 93 Long Build-up and 44 Short Build-up stocks across 218 individual F&O stocks, while the expiring Nifty weekly series recorded a post-close PCR of 1.92.
Indian equities extended their rally on Tuesday, November 3, with the Nifty 50 rising 370.05 points, or 1.58%, to close at 23,810.85. The Sensex gained 1,225.07 points, or 1.62%, to settle at 76,917.85. Both benchmarks advanced for a fourth consecutive session, gaining around 5% over the four sessions. Thirteen of the 16 major sectors advanced, led by financials and private banks, according to Reuters.
The positive market close was accompanied by a stronger long-side bias in NiftyTrader’s F&O OI Spurts export. After excluding four index records, the dataset covered 218 individual F&O stocks. Of these, 93 showed Long Build-up and 44 recorded Short Build-up. Another 26 were classified as Short Covering, five as Long Unwinding and 50 as Neutral.
Bharti Airtel, MCX and Reliance Industries featured among the notable long-side stocks. On the other side, State Bank of India (SBI), Biocon and National Aluminium showed falling prices alongside rising futures open interest.
The Nifty option-chain snapshot added another dimension to the session. Its post-close dashboard showed an OI-based Put-Call Ratio (PCR) of 1.92 and Max Pain at 23,700 for the November 3 weekly expiry.
Track Live: NiftyTrader OI Spurts · NiftyTrader Nifty PCR · NiftyTrader NSE Option Chain
F&O Signals on November 3: Key Numbers
| Classification | Individual stocks |
|---|---|
| Long Build-up | 93 |
| Short Build-up | 44 |
| Short Covering | 26 |
| Long Unwinding | 5 |
| Neutral | 50 |
| Total | 218 |
The original CSV contained 222 data rows, including four index records: Nifty, Bank Nifty, FIN NIFTY and MIDCP NIFTY. These records had zero LTP and Neutral classifications, so they have been excluded from the individual-stock count.
The 93 Long Build-up stocks were approximately 2.11 times the 44 Short Build-up stocks. This ratio describes the balance between these two categories, not the entire derivatives market.
Bharti Airtel, MCX and Reliance Feature Among Long Build-up Stocks
A Long Build-up occurs when a stock’s price and open interest (OI) both increase. This combination is commonly associated with fresh positions being added alongside rising prices. It can indicate improving bullish participation, although OI alone cannot establish the intentions of individual traders.
Bharti Airtel was among the prominent long-side stocks. Its price in the supplied NiftyTrader export was ₹2,065, up 3.77%. NSE futures data showed aggregate OI increasing 8.80% across the available stock-futures expiries.
MCX also recorded a strong move, rising 7.42% to ₹3,490.10, with NSE-derived futures OI increasing 12.26%. Reliance Industries gained 0.61% to ₹1,307.90, while its aggregate futures OI expanded 8.75%.
Coromandel International recorded one of the larger OI increases among selected long-side stocks. Its price advanced 4.14%, accompanied by a 23.21% increase in futures OI.
Selected Long Build-up Stocks
| Stock | Price in export | Price change | NSE OI change |
|---|---|---|---|
| Bharti Airtel | ₹2,065.00 | +3.77% | +8.80% |
| MCX | ₹3,490.10 | +7.42% | +12.26% |
| Coromandel International | ₹1,812.00 | +4.14% | +23.21% |
| Reliance Industries | ₹1,307.90 | +0.61% | +8.75% |
| Shriram Finance | ₹884.80 | +2.48% | +5.31% |
| Hindustan Zinc | ₹526.50 | +1.64% | +7.06% |
| Tata Consumer Products | ₹1,073.00 | +4.29% | +4.08% |
| ITC | ₹273.90 | +2.82% | +2.13% |
The OI percentages in this table are independently calculated from NSE stock-futures data. Price changes are taken from the NiftyTrader export.
Marico Rallies 10% After Q2 Results
Marico stood out with a 10% price increase to ₹878.40 in the supplied export. The move followed its September-quarter results. The company reported consolidated revenue from operations of ₹3,897 crore, while Reuters reported net profit of ₹550 crore, up 31% year-on-year and above analysts’ expectations.
However, Marico’s derivatives reading was less pronounced than its cash-market move. NSE’s aggregated futures data showed OI increasing approximately 0.67%.
The difference is worth watching: a sharp share-price rally does not necessarily mean derivatives participation has expanded at the same pace. Traders can monitor whether OI growth strengthens if the price advance continues.
SBI, Biocon and National Aluminium Lead Short Build-up
The export identified 44 stocks under Short Build-up. This classification occurs when a stock’s price declines while OI rises. It is generally interpreted as a bearish price-and-positioning combination but does not independently prove that newly initiated short trades dominated.
SBI’s price in the supplied export declined 1.70% to ₹970.25, while NSE-derived futures OI increased 7.06%. Biocon fell 3.30% to ₹343, accompanied by a 5.55% increase in OI. National Aluminium declined 3.19% to ₹317.55, while its OI increased 7.85%.
Selected Short Build-up Stocks
| Stock | Price in export | Price change | NSE OI change |
|---|---|---|---|
| SBI | ₹970.25 | -1.70% | +7.06% |
| Biocon | ₹343.00 | -3.30% | +5.55% |
| National Aluminium | ₹317.55 | -3.19% | +7.85% |
| Sagility | ₹42.34 | -0.94% | +19.46% |
| Power Grid | ₹259.55 | -3.04% | +1.79% |
| Canara Bank | ₹117.50 | -1.38% | +2.19% |
| City Union Bank | ₹207.00 | -1.62% | +34.93% |
| Karur Vysya Bank | ₹336.10 | -2.44% | +48.13% |
Karur Vysya Bank and City Union Bank recorded particularly large percentage increases in OI. These figures deserve attention, but a high percentage change should not automatically be treated as the strongest bearish trade. The result is influenced by the starting OI base and the absolute number of positions added.
Short Covering and Long Unwinding: Other Signals
The export contained 26 Short Covering stocks and five Long Unwinding stocks.
Short Covering occurs when prices rise while OI falls, suggesting existing short positions are being reduced. Angel One gained 7.03% while NSE-derived OI declined approximately 4.51%. CDSL advanced 5.43% as OI fell 13.28%, while CAMS gained 3.26% with OI declining 3.92%.
Long Unwinding occurs when both price and OI decline. The five stocks in this category were Union Bank of India, APL Apollo Tubes, Blue Star, Page Industries and LTM.
These categories matter because a price rise with falling OI is different from a price rise with increasing OI. Similarly, a price decline with falling OI can indicate the reduction of existing long positions rather than fresh short buildup.
NSE Cross-check: OI Data Matches for 217 of 218 Stocks
The November 3 NiftyTrader export was compared against the uploaded NSE F&O Bhavcopy, FNO_BC03112026.DAT. NSE stock-futures OI was aggregated across three contract expiries:
- 23 November 2026
- 29 December 2026
- 25 January 2027
Current futures OI matched within 1% for 217 of the 218 individual stocks. For the 217 stocks excluding Vodafone Idea, NSE-derived OI change percentages were within one percentage point of the supplied export for 216 stocks. The direction of the NSE-derived OI movement was consistent with the price-change direction in all 168 non-neutral buildup and unwinding classifications.
Vodafone Idea (IDEA) was the material exception. The NiftyTrader CSV showed an OI increase of 1,120.76%, while the NSE bhavcopy showed an aggregate futures OI decline of approximately 0.04%. IDEA was labelled Neutral in the supplied CSV and has been excluded from the highlighted long- and short-side analysis.
The exchange cross-check strengthens confidence in the OI data for the other stocks, while keeping this exception visible.
Nifty Option Chain: PCR at 1.92, Max Pain at 23,700
The Nifty option-chain dashboard provided an index-level positioning reference alongside the stock-level buildup data.
The post-close dashboard snapshot displayed an OI-based PCR of 1.9171, rounded to 1.92, with Max Pain at 23,700. The Nifty closed at 23,810.85, around 111 points above the displayed Max Pain level.
The supplied one-minute PCR history showed the following movement:
| Time (IST) | Nifty OI PCR |
|---|---|
| 9:10 a.m. | 1.6684 |
| 12:10 p.m. | 1.9858 |
| 3:03 p.m. | 1.4299 |
| 3:30 p.m. | 1.7998 |
| 4:10 p.m. | 1.9171 |
The 1.92 reading is a post-close dashboard value, not the exact 3:30 p.m. reading. It also relates to the November 3 weekly options series, which expired that day.
A PCR of 1.92 means outstanding Put OI was approximately 1.92 times outstanding Call OI for the selected expiry. It does not automatically indicate bullish positioning because the ratio does not reveal whether options were bought, written or used for hedging. Strike-wise OI changes, option premiums and the underlying price must also be considered.
Max Pain is a theoretical calculation based on outstanding option positions. It is not a guaranteed expiry price or a confirmed support level.
November 9 Is the Next Nifty Weekly Expiry
November 3 was the Nifty weekly expiry. The PCR of 1.92 and Max Pain of 23,700 therefore describe the series that expired on Tuesday, not the next weekly contract.
NSE’s contract specifications state that Nifty weekly options normally expire on Tuesday. If Tuesday is a trading holiday, expiry moves to the previous trading day. Since November 10, 2026, is an NSE holiday for Diwali-Balipratipada, the next weekly expiry is scheduled for Monday, November 9. Traders should use the fresh November 9 option chain rather than carry forward the expired series’ PCR and Max Pain levels.
See NSE contract specifications and the NSE 2026 trading-holiday calendar.
What F&O Traders Should Monitor Next
The next session will test whether the November 3 stock-level positioning patterns continue. Bharti Airtel, MCX, Reliance and Coromandel International are among the stocks to watch for sustained price strength with OI expansion.
On the short side, SBI, Biocon, National Aluminium, Sagility and Power Grid are worth monitoring for further price weakness alongside rising OI. Karur Vysya Bank and City Union Bank also merit attention because of their large reported percentage increases in OI.
For index options, traders should assess the fresh November 9 series using strike-wise OI, change in OI, option premiums and the updated PCR. The expired November 3 readings should not be treated as current support or resistance.
Bottom Line
The November 3 F&O snapshot showed a stronger long-side bias among 218 individual stocks, with 93 Long Build-up signals against 44 Short Build-up signals. Bharti Airtel, MCX and Reliance featured among the notable long-side names, while SBI, Biocon and National Aluminium appeared among the short-side stocks.
NSE’s end-of-day futures data independently corroborated OI for 217 stocks, with Vodafone Idea excluded because of a material mismatch. Separately, the Nifty’s post-close PCR of 1.92 and Max Pain of 23,700 belonged to the weekly series that expired on November 3. The next session’s test is whether stock-level buildup receives follow-through and what the fresh November 9 option chain shows.
Sources: NiftyTrader OI Spurts · NiftyTrader Nifty PCR · NiftyTrader NSE Option Chain · NSE F&O Reports and Bhavcopy · NSE Contract Specifications · NSE Trading Holidays.
Disclaimer: This report is for information and market analysis only. Price-and-OI classifications and option-chain metrics are indicators of market activity, not confirmation of individual trader positions or guaranteed future price direction. This is not investment advice.
