Sensex Monthly Expiry: 74,200 Emerges as Key Pivot; PCR at 0.68

The BSE Sensex traded around the 74,150 mark during the morning session on Thursday, September 24, 2026, as participants adjusted positions ahead of the monthly derivatives expiry.

Live market readings placed Sensex between 74,139.89 and 74,150.26 during the session. At the same time, the Put-Call Ratio stood at 0.6789, while the Max Pain level was positioned at 74,200.

The index was therefore trading slightly below Max Pain, with options positioning showing a clear concentration of Call open interest above the prevailing spot level. Fresh Call additions across nearby strikes have also strengthened the resistance structure on the upside.

PCR Below 1 Points to Higher Call Open Interest

The overall options data remains tilted towards the Call side.

Total Call open interest stood at nearly 820.08 lakh, against Put open interest of around 535.92 lakh. This difference is reflected in the PCR of 0.6789.

A PCR below 1 means that Call open interest exceeds Put open interest across the monitored strikes. While PCR alone does not determine market direction, the current reading highlights the heavier positioning on the Call side.

The intraday PCR trend also weakened after the opening phase before settling broadly in the 0.65–0.70 range. This indicates that Call positioning increased relative to Put positioning as trading progressed.

With Sensex around 74,143, the 74,200 strike remains particularly relevant because it is also the current Max Pain level.

74,200–74,500 Forms the Immediate Supply Zone

The strongest concentration of Call positions is visible just above the current market price.

Among the nearby strikes, 74,500 carries one of the largest Call open interest bases, while sizeable positions are also present at 74,300 and 74,200. Further Call concentration is visible at the 75,000 strike.

This places the broad near-term resistance zone between 74,200 and 74,500.

Fresh positioning data supports the same view. Call open interest has increased sharply at 74,200, 74,300 and 74,500.

Additional Call additions can also be seen at 74,400, 74,600 and 75,000.

For the index, reclaiming 74,200 would be the first requirement for stronger intraday momentum. Even then, the 74,300–74,500 region could remain difficult to cross because of the existing Call base and fresh writing.

74,000 Remains the Main Put-Supported Level

On the downside, the 74,000 strike has emerged as the strongest nearby support reference based on Put open interest.
Put positions are also visible at 73,800, 73,900 and 74,100, giving the index a broader support pocket below spot.

Fresh Put additions have been recorded around 74,000 and 74,100 during the session. This suggests that Put writers are continuing to build positions near these strikes.

The concentration of Put OI, however, reduces noticeably as strikes move above the prevail