The nearest expiration date for BSE BANKEX is Jan 27, 2025.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell BSE BANKEX before Jan 27, 2025.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For BSE BANKEX this number is 0.00. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for BSE BANKEX shows that traders are closing their positions, which means a weakening trend.