Sensex 12 Nov Expiry: Option Trade Plan Key Levels Revealed

Sensex Option Chain Analysis

Sensex CMP: 81,879 | PCR: 0.70 | Max Pain: 81,500

The Sensex option chain indicates a cautious to bearish undertone ahead of the weekly expiry. The Put-Call Ratio (PCR) of 0.70 suggests relatively higher Call writing compared with Put writing, indicating that option writers are positioning defensively and upside momentum may remain restricted.

Immediate Support: 81,500 – This level is significant as it coincides with both Max Pain and the highest Put Open Interest. It becomes an important level to monitor during the expiry session. Sustained trading above 81,500 could help the index maintain stability, while a decisive breakdown may increase downside pressure.

Major Resistance: 82,500 – The highest Call Open Interest is concentrated at 82,500, making it an important resistance zone. Unless the Sensex sustains above this level, upside movement could encounter selling pressure.

With the current market price at 81,879, the index is trading 379 points above Max Pain. This suggests that 81,500 remains an important reference level for expiry positioning.

Overall Outlook: The option chain indicates a cautious market structure with a bearish bias. Monitor 81,500 as the crucial support and 82,500 as the major resistance. Price behaviour around these levels will determine the next directional move.