What does nifty options and futures mean?

Nifty Futures and Options can be described as derivative contracts whose underlying is the Nifty Index. Nifty Index is the basis of Nifty Futures, Options and their value. If the Nifty Index is increasing, the Nifty Futures and Options will also increase and vice versa. Nifty Futures and Options are traded in BSE and NSE, and have 3-month cycles just like Equity options and futures.