Below are the SENSEX Weekly Expiry Options Trading Levels for 06 May 2026 Trading .
Options are for 06 May 2026 SENSEX Weekly Expiry.
SENSEX Expiry Range
Upper End of Expiry : 78651
Lower End of Expiry : 77300
SENSEX Intraday Trading Levels
Buy Above 78021 Tgt 78161 , 78301 and 78441 ( SENSEX Spot Levels)
Sell Below 77880 Tgt 77742, 77512 and 77300 (SENSEX Spot Levels)
The current option chain data for the Sensex paints a fascinating, albeit slightly unconventional, picture for the upcoming expiry. With the CMP at 78004.50, the market is positioned in a “tug-of-war” zone between aggressive buyers and cautious writers.
Sentiment & Momentum
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Put-Call Ratio (PCR): At 1.25, the sentiment is decidedly bullish. A PCR above 1.0 typically indicates that put writers are more active, creating a cushion for the index.
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OI Distribution: The total Put OI (353.96 L) significantly outweighs the Call OI (281.44 L). This surplus of put writing suggests that traders are betting on limited downside, viewing dips as buying opportunities.
Critical Levels to Watch
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The Trap Zone: The highest Call OI at 78500 (Resistance) and Put OI at 77500 (Support). Since the CMP is 78004, we are seeing “In-The-Money” (ITM) concentration on both sides.
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Resistance (78500): Having heavy call concentration below the current price suggests call writers are “trapped.” If Sensex stays above 78000, a massive short-covering rally could trigger.
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Support (77500): Heavy put writing above the price indicates extreme confidence from bulls, eyeing a move toward the 78500-79000 range.
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Max Pain: Sitting at 77900, the index is trading very close to the point of “least pain” for option sellers.
Summary: The setup is strongly bullish but volatile. The primary goal for bulls will be to hold 78000; if successful, the “trapped” call writers at 77500 will likely be forced to exit, fueling a move toward 78500. However, expect some gravity toward the 77900 Max Pain level as expiry approaches.
SENSEX Call Options for LONG Trade
SENSEX PUT Options for LONG Trade
SENSEX Call Options for SHORT Trade
SENSEX PUT Options for SHORT Trade
Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.
As always, it’s essential to closely monitor market movements and make informed decisions based on a well-thought-out trading plan and risk management strategy. Market conditions can change rapidly, and it’s crucial to be adaptable and cautious in your approach.
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