Sensex Weekly Expiry: PCR at 1.50 as Index Trades Above 74,500; Put Writers Hold Support

The BSE Sensex traded with a positive bias during the weekly expiry session on September 17, 2026, extending the gains seen in the previous session. The index opened higher and remained above the previous day's close during the early part of the session.

At around 10:25 AM, Sensex was trading at 74,562.90, higher by 226.45 points or 0.30%. In the previous session, the index had closed at 74,336.45, gaining 332.63 points or 0.45%.

The options setup indicates a relatively balanced expiry structure, with the index trading close to the maximum pain level of 74,500. The PCR stands at 1.50, reflecting stronger Put-side positioning, while Call open interest remains concentrated at higher levels.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

Options Setup Shows Stronger Put Positioning

The Sensex expiry setup remains supported by higher Put participation, with PCR at 1.50.

The maximum pain level is placed at 74,500, which is close to the current market price. The index has remained above this zone in early trade, indicating that buyers have maintained control after the previous session's gains.

However, the options data also suggests that upside remains capped due to significant Call positions placed at higher strikes. This has kept the expiry setup within a defined range rather than allowing a sharp directional move.

Call Writers Build Resistance at 75,000–76,000

On the Call side, the highest open interest is concentrated at the 75,000 and 76,000 strikes.

Fresh Call additions have been observed at the 74,500 and 75,000 strikes, indicating active positioning around the current trading zone.

The 75,000 level remains the immediate hurdle for Sensex, while the larger Call concentration at 76,000 could restrict further upside if buying momentum continues.

A sustained move above 75,000 may lead to adjustments in Call positions and provide additional strength to the index. Until then, these levels are likely to act as resistance during the expiry session.

Put Writers Defend 74,000–74,300 Zone

The Put side shows support concentrated at lower levels, with the highest open interest visible at the 74,000 and 74,300 strikes.

Fresh Put additions have been recorded at the 74,500 and 75,000 strikes, indicating continued activity around the prevailing market range.

The 74,300–74,000 zone remains important support for Sensex. Holding above this area would keep the current positive structure intact, while a break below this range could weaken the expiry setup and bring lower levels into focus.

Maximum Pain at 74,500 Keeps Index Near Key Zone

The maximum pain level remains at 74,500, keeping this strike as the central reference point for the expiry session.
With Sensex trading slightly above this level, the index remains close to the zone where significant options activity is concentrated. Movement around this level will be important as traders adjust positions through the session.

Sensex Weekly Expiry Outlook

The Sensex expiry setup remains cautiously positive, supported by stronger Put positioning and the index holding above the 74,500 zone. The immediate upside hurdle is placed around 75,000, followed by the broader Call resistance zone near 76,000. On the downside, support remains visible around 74,300–74,000.

A sustained move above 75,000 could strengthen the recovery, while a decline below 74,000 may shift the advantage back towards sellers.

With PCR at 1.50 and maximum pain at 74,500, the expiry session is likely to remain focused around these key levels as traders adjust positions.