Banknifty analysis

let’s analyze the BankNifty OI Data + Chart + Price Action step by step: 🔎 1. Price Action & Candlestick Observation CMP: 55,698 (down ~166 pts, -0.30%). Chart shows: A recent fall from ~56,200 to ~55,600, then a bounce. Current candles are small-bodied, indicating indecision / consolidation around 55,700. Last big red candle rejected near 56,200 (upper wick) → showing supply/resistance. 📌 Candlestick Bias: Neutral-to-bearish unless price sustains above 56,000. --- 🔎 2. OI Analysis (Option chain) Highest Call OI (Resistance levels): 56000 CE → 18.40 L (major resistance) 55700 CE → 4.63 L 55500 CE → 7.57 L Highest Put OI (Support levels): 55500 PE → 10.22 L (major support) 55600 PE → 3.13 L 55900 PE → 2.19 L (far OTM, less relevant) OI Change (intraday writing/unwinding): Calls added at 55600 CE (↑79k) → fresh resistance nearby. Puts added at 55400 PE (↑7.6k) & 55600 PE (↑21k) → support around 55400–55600. Heavy unwinding in 55700 CE & 56000 CE → Call writers booking prof...

Based on OI data and chart. Let’s break this down step by step:-- 1. Chart Analysis (Price Action) CMP = 55,865 Recent low = 55,724, recent high = 55,939 Last few candles show rejection near 55,900 – 56,000 (selling pressure at higher levels). There is buying interest visible around 55,600 – 55,700 zone (multiple rejections, bullish wicks). Current candle structure = sideways consolidation after a recovery from day’s low. No strong bullish/bearish candlestick pattern visible yet, more of a range-bound price action. --- 2. Option Chain (OI Data) Call OI (Resistance side) 56000 CE → 16.26 L (highest OI, strong resistance) 55900 CE → 3.38 L 55800 CE → 4.24 L Put OI (Support side) 55700 PE → 4.63 L (highest put support near CMP) 55600 PE → 2.94 L 55400 PE → 2.59 L ➡ Interpretation: Major resistance = 56,000 (huge CE writing). Immediate support = 55,700 – 55,600 zone (PE writing). --- 3. OI Change (Intraday Sentiment) Call OI Change: -24.6K (unwinding → bullish sign) Put OI Change: +2.64 L ...

 let’s break this down step by step from the charts and OI data. --- 🔎 Chart & Candlestick Analysis (BankNifty Spot – 55,734.90) Recent trend: Market is recovering from lows (~55,000) after a sharp fall, but faced rejection near 55,845–56,000. Today’s candle: A long upper wick is visible → showing selling pressure near higher levels (bears active near 55,800–56,000). Volume: Spike near lows, suggesting buyers are defending ~55,000–55,200 zone. 👉 Candlestick signal: Market is range-bound between 55,200 (support) and 56,000 (resistance). A breakout/sustain beyond this range will decide intraday direction. --- 🔎 Options Chain (28 Aug Expiry) Calls (Resistance side) 55,800 CE OI: 4.09L 56,000 CE OI: 16.12L (HUGE) → Major resistance Puts (Support side) 55,500 PE OI: 9.33L (Strong support) 55,300 PE OI: 2.43L 👉 Key OI buildup: Support Zone = 55,300–55,500 Resistance Zone = 55,800–56,000 --- 🔎 OI Change (Intraday sentiment) Call unwinding seen at 55,300–55,600 CE → bullish indica...

Let’s break it step by step based on the OI Data, Change in OI, Option Chain, and Candlestick Chart  for BankNifty (CMP ~55341). 🔎 1. Chart Analysis (Candlesticks) On the 2H chart, BankNifty has been in a downtrend from ~57,600 to ~55,300. Currently it is consolidating between 55,200 – 55,600 (sideways structure). Volumes are low, suggesting a big move can come once this range breaks. Immediate support visible near 55200 and resistance around 55550–55600. --- 🔎 2. Open Interest (OI) Data Total OI (Monthly Expiry 28 Aug) Calls OI = 1.88 Cr (higher) Puts OI = 1.35 Cr PCR = 0.72 → Bearish bias (more Calls written than Puts). --- 🔎 3. Option Chain (Key Strikes) Support levels (Puts OI concentration): 55000 PE → 9.62 L OI (strongest support). 55200–55300 PE → decent OI ~2.7–2.8 L. Resistance levels (Calls OI concentration): 55500 CE → 11.7 L OI (very strong resistance). 55600 CE → 3.1 L OI. 55400 CE → 3.89 L OI. Conclusion from OI: ➡️ Strong resistance zone = 55400–55600 ➡️ Strong su...

 let’s break step-by-step by combining the chart price action with the Open Interest (OI) data . --- 1. Candlestick Chart (4H) Trend: The chart shows a clear downtrend from 58,800 to near 55,000 with lower highs and lower lows. Current Price: 55,181 — slight bounce from 55,026 low, but still near recent support zone. Volume: Higher volume on down moves than on up moves → still sellers dominating.  --- 2. OI Data Analysis a. Option Chain Biggest Put OI (Support): 55,000 PE: 10.39 lakh OI — strong support zone. 55,000 PE also saw addition of 57,960 → fresh buying in puts indicates defense here. Secondary Support: 55,200 PE (2.65 lakh OI). Biggest Call OI (Resistance): 55,500 CE: 12.43 lakh OI — strong resistance. 55,200 CE: 3.33 lakh OI — minor resistance before 55,500. Call writers adding positions on 55,200 & 55,500 strikes — showing sellers protecting upside. --- b. OI Change (Intraday) At 55,200 CE → +92,260 OI added — fresh call writing (bearish near this level). At 55,...

 Looking at  BankNifty chart + option chain + OI analytics, here’s the combined analysis:--- 1. Candlestick + Price Action View (2h chart) Trend: Downtrend — price is making lower highs and lower lows. Current CMP: 55043, which is closer to the lower end of the recent range. Immediate Zone: Price is struggling to stay above 55000 psychological level. Recent candles show rejection at ~55400–55500 zone (selling pressure). --- 2. Option Chain Analysis (28 Aug expiry) Call side (Resistance) 55500 CE: Highest Call OI = 12.19 lakh with fresh addition of 2.55 lakh → Strong resistance. 55000 CE: Heavy OI = 10.03 lakh → Minor resistance just above CMP. OI Change: Fresh call writing at 55000 & 55500 = Bearish signal. Put side (Support) 54600 PE: OI = 89,775 (highest in the lower strikes) → Minor support. 55000 PE: OI = 8.71 lakh but reducing → Support weakening. PCR (Overall): 0.70 → Bearish bias. --- 3. OI Change & Multi-Strike OI Intraday OI build-up: Call OI rising steadily d...