Sensex : Expiry Report by Motilal Oswal Wealth Management
BSE Sensex : 77414
The S&P BSE Sensex Index opened on a flattish note and witnessed volatility throughout the session. The index moved within a broader range of around 500 points, with sharp fluctuations in the second half of the day. Despite the choppy movement, it ended with minor losses of around 190 points. On the daily charts, it formed an inside bar candle with a lower shadow, signalling strong buying interest at key support levels. Now it has to hold above 77300 for strength towards 77800 then 78100 zones whereas supports are placed at 77300 then 77000 zones.
Expiry day point of view :
Overall trend is likely to remain volatile and now it has to hold above 77300 for strength towards 77800 then 78100 zones whereas supports are placed at 77300 then 77000 zones.
Trading Range :
Expected wider trading range : 77000/77300 to 77800/78100 zones.
Option Strategy :
Option traders can initiate Weekly Bull Call Spread (Buy 77500 CE & Sell 77700 CE) to play the upside move.
Option Writing :
Option writers are suggested to Sell 75300 Put & 79000 Call in pair with double the SL.
Weekly Change :
S&P BSE Sensex is down by 0.77% at 77414 on a weekly basis. Sensex VWAP of the week is near 77580 zones and it is trading 170 points below the same which indicates swings to continue within a range but with capped upside for expiry day point of view.
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