The flag register in 8085 microprocessor contains 5 flags that is, Sign Flag, Zero
Flag, Auxiliary Carry Flag, Parity Flag and Carry Flag.

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The flag register in 8086 microprocessor contains9flags that is, Overflow Flag,
Direction Flag, Interrupt Flag, Trap Flag, Sign Flag, Zero Flag, Auxiliary Flag, Carry Flag, and Parity Flag.

8086 Flags:

Overflow Flag (O) – This flag will be set (1) if the result of a signed operation is too large to fit in the number of bits available to represent it, otherwise reset (0). After any operation, if D[6] generates any carry and passes to D[7] OR if D[6] does not generates carry but D[7] generates, overflow flag becomes set, i.e., 1. If D[6] and D[7] both generate carry or both do not generate any carry, then overflow flag becomes reset, i.e., 0.

Directional Flag (D) – This flag is specifically used in string instructions.
If directional flag is set (1), then access the string data from higher memory location towards lower memory location.
If directional flag is reset (0), then access the string data from lower memory location towards higher memory location.

Interrupt Flag (I) – This flag is for interrupts.
If interrupt flag is set (1), the microprocessor will recognize interrupt requests from the peripherals.
If interrupt flag is reset (0), the microprocessor will not recognize any interrupt requests and will ignore them.

Trap Flag (T) – This flag is used for on-chip debugging. Setting trap flag puts the microprocessor into single step mode for debugging. In single stepping, the microprocessor executes a instruction and enters into single step ISR.
If trap flag is set (1), the CPU automatically generates an internal interrupt after each instruction, allowing a program to be inspected as it executes instruction by instruction.
If trap flag is reset (0), no function is performed.