Sensex Option Chain Analysis (23 Oct 2025 | CMP 84,970) — Neutral to Mildly Bearish Bias Ahead of Expiry ⚖️

💡 Note: This analysis is based on AI-powered models and is shared for educational & informational purpose only. यहाँ दिए गए “Buy/Sell” या “Target” signals AI-generated insights हैं — ये किसी प्रकार की personal investment advice नहीं है।

SENSEX LIVE ANALYSIS & OPTION CHAIN — 23 Oct 2025 (CMP: 84,970)

Spot chart cooling, option-data shifting — expiry likely near 84,950 ±50 pts (Neutral → Mildly Bearish)

Asia/Kolkata • 23 October 2025
Expiry: Near-term

🔹 1️⃣ SPOT CHART VIEW

CMP → 84,970

• RSI(14) → 38.5 (cool-off zone)
• CCI(20) → -75.4 (weak momentum)
• MACD → Negative crossover (-80.32 < -81.50)

Interpretation: Index ने 85,300 से हल्की profit-booking ली है। Momentum थोड़ा कमजोर है पर long-term trend intact — price अभी भी EMA के ऊपर है। यह short-term cool-off phase है, पर reversal साफ़ नहीं दिख रहा।

🔹 2️⃣ OPTION CHAIN (84,900–85,200 RANGE)

Strike	CE OI Change	PE OI Change	CE Trend	PE Trend	Indication
84,700	+37k	+11k	CE Add	PE Build	Mild Support
84,800	+62k	+23k	CE Add	PE Write	Strong Base
84,900	+78k	+34k	CE Add	PE Build	Tug Zone
85,000	+1.55L	+56k	CE Add	PE Add	Balanced
85,100	+5.84L	+1.1L	Heavy CE Add	PE Add	Resistance emerging
85,200	+14.06L	+2.9L	CE Add	PE Stable	Heavy Resistance

PCR: 0.92 → Neutral to Slightly Bearish.
Max Pain: 85,000 zone.
Interpretation: Bulls trying to defend 85,000. CE dominance rising at 85,100–85,200 suggests an expiry ceiling forming; immediate base around 84,800–84,900 where PE writers active.

🔹 3️⃣ OPTION CHARTS INSIGHT (Key Strikes)

🟢 84,900 CE

• RSI = 30.3 → Oversold
• CCI = -180 → Weak but bottom-forming
• MACD negative but flattening → Selling easing

📍 Short covering expected near expiry — CE में bounce possible.

🔵 84,900 PE

• RSI = 36 → Weak
• CCI = +359 → Earlier overshoot selling signal
• MACD still negative → Momentum cooling

📍 PE buyers exhausted; writers gaining confidence.

🔹 4️⃣ VOLATILITY & VOLUME TREND

• IV falling: ~6.8 → 6.2 → कोई panic नहीं
• Volume distribution: evenly distributed → expiry positioning जारी

📍 Smart money neutral → slightly bearish positioning दिख रहा है (CE heavy above 85,100).

🔹 5️⃣ EXPIRY RANGE PROJECTION

Scenario	Expiry Range	Probability
⚖️ Range-Bound	84,850 – 85,100	55%
🔻 Mild Weakness	84,700 – 84,850	30%
🚀 Surprise Short-Covering	85,100 – 85,200	15%

📍 Expected Expiry Zone → 84,950 ± 50 pts

🔹 6️⃣ STRUCTURE SUMMARY (Smart Money Ranges)

Zone	CE Strength	PE Strength	Bias
84,700	4.3L	2.1L	🔹 Support
84,800	6.7L	3.9L	🔹 Strong Support
84,900	8.5L	4.6L	⚖️ Battle
85,000	10.1L	5.6L	⚖️ Neutral
85,100	13.9L	6.5L	🔸 Resistance
85,200	14.0L	2.9L	🔻 Ceiling

🔹 7️⃣ TECHNICAL ALIGNMENT

Indicator	Reading	Signal
RSI	38	Oversold – mild bounce possible
MACD	Negative	Sideways to weak
PCR	0.92	Neutral
OI Distribution	CE heavy	Bearish bias near expiry
Price Zone	84,950–85,000	Max Pain cluster

✅ FINAL VERDICT — NEUTRAL to MILDLY BEARISH EXPIRY ⚖️

Factor	Reading
Trend	Still bullish (long-term)
RSI	Cooling, oversold
MACD	Weakening (negative)
PCR	0.92 → Neutral
Smart Money	CE dominance above 85,100
Support	84,800
Resistance	85,200

Conclusion: Sensex expiry bias अब neutral to mildly bearish है। Bulls कोशिश करेंगे expiry को 85,000–85,050 पर pin करने की, जबकि bears 85,100 ऊपर जाने नहीं देंगे। नीचे 84,800 strong base बना हुआ है — उसके नीचे ही sharp fall की संभावना बढ़ जाएगी।

📌 Snapshot

CMP: 84,970
Bias: Neutral → Mildly Bearish

🧭 Key Levels

Support

• 84,800 — immediate base
• 84,700 — secondary support

Resistance

• 85,100 — resistance emerging
• 85,200 — heavy ceiling

⚡ Trade Signals

• Short-term cooling — avoid fresh longs unless 85,100 break with strength.
• Look for short-covering bounce near 84,900 CE if momentum eases.
• Protect downside below 84,800 (strong base); breach → accelerate selling.

❓ Quick FAQ

Q: क्या trend बदल गया?
A: नहीं — long-term trend अभी भी बुलिश है; पर short-term cool-off और expiry positioning mildly bearish दिख रही है.

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All insights and analysis shown here are AI-based data models and algorithmic studies. यहाँ दिखाए गए “Buy”, “Sell” या “Target” केवल AI-generated analytical views हैं, intended to help traders & investors understand market behavior — not to give any direct trading signal. This content does not qualify as advisory service under SEBI norms.

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