This page tracks the FIN NIFTY Put Call Ratio (PCR) — total put open interest divided by total call open interest across the NSE FIN NIFTY option chain. It is a positioning gauge rather than a price signal: a PCR above 1 means more puts than calls are open, which reads as bearish at face value and as contrarian-bullish at extremes; a PCR below 1 leans the other way. What matters more than the level is the direction of travel through the session, read against the index price on the same chart.
FIN NIFTY covers the wider financial-services basket — banks, NBFCs, insurers and housing finance — so it reacts to rate, credit and policy news. PCR is thin on its own, so it is worth reading next to the raw FIN NIFTY open interest, the max pain strike and the full option chain — all linked above. The chart on this page updates live from the option chain during market hours; nothing on it is a recommendation.