SENSEX Weekly Outlook: October 29, 2026 Expiry

BSE SENSEX is trading at 73,249.39 as markets head into the October 29, 2026 weekly expiry. This week's outlook combines structural price levels with Open Interest positioning, fresh Change in OI activity, and the Put-Call Ratio to build a fuller picture of how the market is currently positioned.

Weekly Price Snapshot

•SENSEX Level: 73,249.39

•India VIX: 15.76

•Expiry: Thursday, October 29, 2026

•Total Call OI: 47.83 lakh contracts

•Total Put OI: 51.13 lakh contracts

•Put-Call Ratio (PCR): 1.06

Structural Price Levels

Mapping out the key price levels for SENSEX through the October 29 expiry:

| Level | Price | Type |

|---|---|---|

| Maximum Upside | 74,556.34 | Outer Resistance |

| Upper Level | 73,748.64 | Resistance |

| Current Base | 73,249.39 | Reference |

| Lower Level | 72,750.14 | Support |

| Maximum Downside | 71,942.44 | Outer Support |

India VIX at 15.76 is back above the 15 mark, up from 14.02 last week, moving out of the calm volatility band into a moderate zone and pointing to a wider expected trading range this week. These levels are a structural reference for monitoring support and resistance through the week, not trade entry points.

India VIX itself is essentially the market's implied volatility reading for the index as a whole. If you're new to how implied volatility shapes option pricing and expected price ranges, see What Is Implied Volatility? A Beginner's Guide to IV in Options Trading for a fuller breakdown.

Open Interest (OI) Analysis

Total Call OI stands at 47.83 lakh contracts against Total Put OI of 51.13 lakh contracts, a fairly balanced split with Puts marginally ahead for this expiry. If you're not familiar with how Open Interest is built up and interpreted, What Is Open Interest? A Beginner's Guide to OI in Options Trading covers the basics.

The OI distribution across strikes shows a distinct pattern this week:

•The heaviest OI on the entire chain, for both Calls and Puts, sits at the 73,500 strike, just above current spot. This pivot zone stands out well above every other strike on the board.

•A secondary Call OI concentration appears at 74,000, marking the next resistance zone above the pivot.

•The heaviest Put OI below spot is at the 73,000 strike, marking the primary support zone, with a further Put cluster at 72,500 and another at 74,000 alongside the Call OI there.

Change in OI Analysis

Looking at fresh Open Interest additions for the day rather than the cumulative total gives a read on where positioning is actively building right now.

Fresh writing is heaviest at the 73,500 strike on both sides, with Call additions slightly ahead of Put additions, reinforcing it as the key zone to watch this week. Further fresh Put additions appear at 73,000, 72,500 and 73,200, while the next notable Call addition is at 74,000.

This lines up with the cumulative OI picture: option writers are converging on 73,500 as the pivotal level for the week, with Put-side support building at 73,000 beneath it and Call-side resistance building at 74,000 above it.

Put-Call Ratio (PCR) Analysis

The current PCR for this expiry is 1.06, meaning Put OI and Call OI are close to evenly matched, with Puts marginally ahead.

A PCR sitting close to 1 generally reflects a fairly balanced options market, without a strong directional lean from option writers on either side. This is a more neutral reading than a PCR skewed well above or below 1, and marks a clear cooling from the 1.60 reading on the previous SENSEX expiry.

That said, PCR is one data point among several, and a single week's reading should be considered alongside price action and the broader OI structure rather than in isolation. As the week progresses toward expiry, What Is Time Decay in Options? A Beginner's Guide to Theta explains why option premiums, and the incentives behind this kind of writing activity, shift as expiry approaches.

What This Means for the Week

Putting the data points together for the October 29 expiry:

1.Structural range: 71,942.44 – 74,556.34, with a tighter 72,750.14 – 73,748.64 zone as the more probable trading band.

2.OI-based pivot: heaviest OI on the chain, both Call and Put, concentrated at 73,500.

3.Secondary resistance: 74,000. Primary support below spot: 73,000, with a further cluster at 72,500.

4.Fresh writing (Change in OI) concentrated at 73,500 on both sides, with Call additions slightly ahead.

5.PCR: 1.06, broadly neutral bias, a cooling from last SENSEX expiry.

Together, this points to 73,500 as the key level to watch this week, the strike where both sides are most heavily positioned, with 74,000 and 73,000 as the wider boundaries if that zone gives way.

Frequently Asked Questions

What is the current PCR for SENSEX?

The Put-Call Ratio for the October 29, 2026 expiry stands at 1.06, with Total Call OI of 47.83 lakh contracts against Total Put OI of 51.13 lakh contracts.

Where is the strongest OI-based level for SENSEX this week?

The 73,500 strike shows the heaviest Open Interest on the entire chain for both Calls and Puts, making it the key pivot zone, with secondary resistance at 74,000 and primary support below spot at 73,000.

What does Change in OI show for SENSEX this week?

Fresh writing is heaviest at 73,500 on both sides, with Call additions slightly ahead, while further Put additions appear at 73,000, 72,500 and 73,200 and the next Call addition is at 74,000.

What does a PCR of 1.06 suggest for SENSEX?

A PCR close to 1 reflects a broadly balanced options market this week, with neither Call nor Put writers showing a strong directional conviction, and it marks a cooling from the previous SENSEX expiry.

What does India VIX at 15.76 suggest for this week?

India VIX at 15.76 sits above the 15 mark, outside the calm volatility band, pointing to a wider expected trading range through the October 29 expiry than last week.

Disclaimer

This article is for educational purposes only and does not constitute financial advice. It is based on technical analysis, Open Interest data, and market data available at the time of writing. Please consult a SEBI registered investment advisor before making any investment decisions. All investments carry risk.