SENSEX 21-May Expiry: Max Pain 75600 pin, OC compressionBSE Sensex IndexBSE_DLY:SENSEXAlphaAdeptSENSEX 21-May-2026 EXPIRY DAY analysis | 15m timeframe + Option Chain SNAPSHOT (10:25 IST) Spot 75,578 | Day H 75,946 | Day L 75,476 | VWAP 75,641 Max Pain 75,600 (expiry magnet) PCR(OI) full 0.885 | ATM+/-500 PCR 0.66 (call-heavy) 15m STRUCTURE B1 (09:15-30): gap-up rejected at 75,946, -145 close at 8% of range, 1.77M vol B2 (09:30-45): hammer at 75,476 (day low), 93% close, demand B3 (09:45-00): lower-high 75,745 rejected, -71 B4 (10:00-15): inside bar, vol bleeding 1.77M -> 0.47M Compression base: 75,476 - 75,745 (pre-breakout coil) OPTION CHAIN WALLS Top CE wall: 76,000 (8.6M OI) - CEILING CE stack 75,700/75,800: 9.4M combined - fresh writing Max Pain: 75,600 (intraday CE writing exploded +2.6M here last hour) Top PE wall: 75,000 (6.5M OI) - FLOOR PE stack 75,300/75,500: 6.9M combined OI FLOW (last hour, since 09:30) Massive fresh CE writing 75,600-76,000 (+11M contracts) = sellers say no upside Heavy PE writing 75,000-75,500 (+8M) = floor being built Net: classic IRON CONDOR / PIN setup VERDICT: HIGH PROBABILITY PIN TO 75,600 AT EXPIRY SHORT TRIGGER 75,475 (15m close < day low) T1 75,400 | T2 75,300 (PE wall) | T3 75,100 SL 75,750 LONG TRIGGER 75,750 (15m close > B3 high) - LOW PROB T1 75,900 (faces CE wall) | T2 75,946 (day H) SL 75,575 BEST PLAY (option sellers): Sell 75,500 PE / 75,700 CE strangle, premium decay to pin NO-TRADE ZONE: 75,500 - 75,750 (compression core) Not financial advice. Educational only.