Banknifty analysis for 15 apr 2025

 Based on the OI (Open Interest) and PCR (Put-Call Ratio) data  for BANKNIFTY (Expiry 24 Apr 2025), here’s a clear analysis of major support, resistance, and trade plan:

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Key Observations:

1. Major Resistance:

51000 Strike

Call OI: 89.24L (highest among all)

Put OI: 81.25L

PCR: 0.92


This indicates strong call writing, suggesting this is a strong resistance level.


Above Resistance: 51100–51300 also have increasing call OI with low PCRs (0.75, 0.63), confirming overhead pressure.


2. Major Support:

50500 Strike

Put OI: 34.62L (relatively high)

PCR: 1.31

Indicates good put writing, suggesting this is strong support.


50600 Strike

PCR: 1.66 (very bullish), supporting 50500 as a support zone.


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PCR Trend:


Overall PCR: 0.86 — slightly on the bearish side, but near-neutral.


PCR has declined over time in the OI & PCR vs Time chart (April 3 to 9), showing weakening bullish sentiment or profit booking.

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Trade Plan:


Ideal Entry for Long (Bullish) Trade:


Entry Zone: Near 50500–50600 levels (support zone).


Target: 51000 (immediate resistance), possible move to 51300 if breakout happens.


SL (Stop Loss): Below 50450 or based on 5-min candle structure if scalping.


Ideal Entry for Short (Bearish) Trade:


Entry Zone: Near 51000–51100 (resistance zone).


Target: 50600 or 50500.


SL: Above 51150 or 51200 depending on momentum.



Use RSI + price action confirmation on 5-min or 15-min timeframe near key levels.




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Let me know if you want me to mark these zones on a chart or generate a quick trading view layout.


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