Banknifty analysis for 26 march 2025

 

Bank Nifty Option Chain Analysis

1. Current Price: 51,607.95 (-97 points, -0.19%)

2. Call Side (Resistance) Analysis:

Strong Call Writing at 51500 & 51600: Indicated by a significant drop in Call LTPs (-34% and -38%), showing resistance at these levels.

51700-52000 also has heavy call writing, suggesting limited upside beyond 52000.

3. Put Side (Support) Analysis:

Strong Put Writing at 51600, 51500: This indicates some level of support.

52000 has very weak PCR (0.27), meaning weak support at higher levels.

4. PCR (Put Call Ratio): Lower PCR values at 51800-52000 suggest resistance, while higher PCR values at 51500-51600 indicate support.

Technical Chart Analysis

1. Price Trend:

Bank Nifty recently made a high of 52,063.95 before pulling back to 51,480.

The pullback is happening near the short-term EMA (orange line).

2. Indicators:

RSI (Relative Strength Index) at 25.17: Indicates an oversold condition, which could lead to a short-term bounce.

ADX (Average Directional Index) at 14: Suggests a weakening trend, meaning volatility might increase.

3. Moving Averages:

Price is still above the 200 EMA (long-term trend support), but there’s a pullback from 52,000 resistance.

If 51,400-51,500 holds, a bounce is possible; otherwise, a deeper correction towards 50,800-51,000 could happen.

Conclusion & Trade Plan

For Bullish Trades:

Look for a bounce near 51,400-51,500 with a target of 51,800-52,000.

If Bank Nifty crosses 52,000 with strong volumes, an upside move to 52,500 is possible.

For Bearish Trades:

If Bank Nifty breaks 51,400, expect a move down to 51,000-50,800.

A break below 50,800 can lead to further selling pressure.