Sensex Weekly Expiry Update: Index Recovers, But 75,000 Remains A Key Hurdle

The Sensex showed some recovery during the afternoon session on Thursday, September 10, after opening on a cautious note following the previous day’s sharp decline.

As of around 12:50 PM, the BSE Sensex was trading at 74,849.75, up 85.52 points or 0.11%. The index opened at 74,742.54 and moved in a narrow range, touching an intraday high of 74,910.96 and a low of 74,666.10.

The recovery from the morning levels indicates that buying interest has emerged near lower levels. However, the index continues to face resistance near the 75,000 mark, which remains important for the expiry session.

Options Data Shows Improvement In Market Sentiment

The options setup has improved compared with the morning session. The Put-Call Ratio (PCR) has increased from 0.70 to 0.94, indicating that Put writers have become more active during the session.

A PCR below 1 generally suggests that Call open interest is higher than Put open interest. However, the rise from morning levels indicates that the earlier cautious sentiment has reduced. The Max Pain level has also shifted higher from 74,800 to 74,900. This suggests that option positioning has moved slightly upwards as the Sensex recovered.

75,000 Remains The Immediate Resistance

On the Call side, traders are actively positioned at the 75,000 and 75,500 strikes. Fresh Call additions near 75,000 indicate that traders are attempting to limit the upside. The 75,000 level is now the immediate resistance for the index. A sustained move above this level could improve momentum and may lead to further recovery.

However, until the Sensex decisively crosses 75,000, the upside may remain restricted due to continued Call writing.

Support Builds Around 74,500–74,800 Zone

On the Put side, traders are building positions around the 74,500 and 74,800 strikes. This indicates that the downside support zone has strengthened compared with the morning setup. The 74,800 level is likely to act as immediate support, while 74,500 remains an important base for the expiry session.

A hold above this zone could keep the index range-bound, whereas a break below 74,500 may increase selling pressure

Outlook For The Remaining Session

The Sensex expiry setup has improved from the morning session, with the PCR recovering and Max Pain shifting higher. However, the index remains caught between support near 74,800 and resistance around 75,000.

A breakout above 75,000 could strengthen the recovery, while a fall below 74,500 may bring renewed selling pressure. For now, the Sensex is likely to remain range-bound, with traders closely tracking the 74,800–75,000 zone during the final phase of expiry.