Thanks for sticking into this Steve
Please note that my final project involve RTC Clock, Rain drop sensor, single channel relay module, buzzer, push switch, IR module, I2C .96 OLED soldered on general purpose PCB with a RJ45 socket for CAT5 connection but after the problem I have dismantled all including the sensor and back to solderless breadboard for troubleshooting and just reading the sensor values via putty with the help of the sketch I have mentioned in my initial post , please see attached "Actual Project.jpg" to get an idea what I want to achieve.
CAT5 is UNSHIELDED twisted pair one, see attached "cat5.jpg"
schematic "Sketch.jpg" is attached which is showing the portion on which I am doing the troubleshooting, it's bare minimum to avoid any clash/interface with other components.
I have attached the reference image "Reference Image for Sensor.jpg" inspired from below blog.
<www(.)makingstuff.info/Projects/Water_Level_Sensor_Part_1>
I have also attached pics from those good days when it was working 
at least 2 weeks.
