Introductory Context
"The NSE Bhavcopy is the daily comprehensive data file for all F&O contracts — settlement prices, OI, traded quantity, and open/high/low/close for every active contract. Published daily on nseindia.com in downloadable CSV format. It is the authoritative primary source for Indian F&O data, used for historical analysis, backtesting, and data verification. "
What the F&O Bhavcopy Contains
The NSE F&O Bhavcopy (BhavCopy = price copy in Hindi) is a CSV file containing one row per active F&O contract for the trading session. Each row includes:
• OPTIDX (index option), OPTSTK (stock option), FUTIDX (index future), FUTSTK (stock future): Instrument type.
• Underlying name — NIFTY, BANKNIFTY, RELIANCE, etc: Symbol.
• Contract expiry: Expiry date.
• Relevant for options; blank for futures: Strike price.
• CE or PE for options; blank for futures: Option type.
• Session price data: Open, High, Low, Close.
• Used for MTM and final settlement calculations: Settlement price.
• Volume for the session: Total contracts traded.
• Notional value traded: Turnover (in lakhs).
• Total outstanding contracts at session close: Open interest.
• Difference from previous session's OI: Change in OI.
A single Bhavcopy file on an active day can contain 10,000–15,000 rows across all instruments and expiries.
Where to Download the Bhavcopy
NSE publishes Bhavcopy files daily at nseindia.com:
• nseindia.com → Market Data → Reports → Derivatives → F&O Bhavcopy Path:
• CSV (downloadable), sometimes also in ZIP format Format:
• published approximately 30–60 minutes after market close each trading day Timing:
• historical Bhavcopy files going back years are available in the NSE historical data section Archive:
NSE also publishes separate Bhavcopy files for equities, currency derivatives, and interest rate derivatives. For options traders, the relevant file is the F&O Bhavcopy.
Bookmark the NSE Data Archive
For historical analysis, the NSE data archive at nseindia.com/report-detail/fo_eq_security provides downloadable historical F&O data by security. This allows you to download all historical option chain data for Nifty (or any F&O stock) in CSV format, suitable for spreadsheet analysis or programming-based backtesting.
Practical Uses of the Bhavcopy
Verifying Third-Party Data
When a platform shows you OI data or settlement prices, the Bhavcopy is the ground truth. If you ever see conflicting data between platforms, the NSE Bhavcopy is the authoritative source. This is particularly important when a platform's data seems to show unusual OI levels or settlement prices around expiry.
Historical OI Analysis
By downloading multiple Bhavcopy files, you can track how OI evolved at specific strikes over a multi-week period — identifying how institutional positions built and unwound around previous expiry cycles. This historical context helps calibrate what 'normal' OI levels look like at specific strikes and what constitutes an unusual build.
Settlement Price Verification
For any expired contract, the Bhavcopy contains the final settlement price. If you have a question about how a specific contract settled — particularly relevant for stock options where the settlement is the VWAP of the cash market on expiry day — the Bhavcopy provides the definitive answer.
Building Custom Analytics
Traders with programming skills (Python, Excel with Power Query) can download and process Bhavcopy files to build custom analytics: option chain visualisations, OI pattern detection, historical PCR tracking, or backtesting of OI-based signals. The Bhavcopy is the foundational dataset for all serious quantitative analysis of Indian F&O markets.
Bhavcopy for Intraday Data
The Bhavcopy provides only end-of-day data, not intraday ticks. For intraday data (minute-by-minute option chain updates during the session), alternative data providers (Breeze, TrueData, Global DataFeeds) provide historical intraday F&O data at a cost. For most retail analytical needs, end-of-day Bhavcopy data is sufficient.