Get the market direction from the live chart of Nifty put call ratio & explore the real-time chart of Nifty PCR analysis for valuable insights. Also, view historical OI data, PCR graphs, & futures OI, at Upstox.com. The put-call ratio measures market sentiment by calculating the amount of put options traded against the number of call options traded. The put-call ratio is an indicator used by investors to gauge the outlook of the market. The ratio uses the volume of puts and calls over a determined time What is the Put Call Ratio? The put call ratio (PCR) is an indicator used in options trading to gauge market sentiment. The put call ratio is calculated by dividing the number of traded put options by the number of traded call options.