Banknifty analysis for 22 apr 2025

 Based on the detailed breakdown of Bank Nifty (as of 21st April 2025) for support, resistance, and potential trade setup:

---

1. Price Action & Chart Analysis 


Current Price: 55,295.50


Trend: Strong uptrend (price is far above 50 & 200 EMA – bullish momentum)


RSI (14): 76.81 → Overbought zone (can lead to a pullback or consolidation soon)


Chart Observations:


A strong breakout from consolidation above 51,000


Big candles, strong volume, and RSI in overbought = continuation possible but risky for fresh long

---


2. Option Chain Analysis – Expiry: 24 April 2025


Resistance Levels (CALL side):


55,500: High Call OI (14.65L) – First resistance


56,000: Massive Call OI (19.27L) – Strong resistance zone


Support Levels (PUT side):


55,000 PE: Highest Put OI (19.16L) – Strong support


54,500 PE: Decent OI (6.72L)


PCR > 1 = Bullish bias

---


3. OI Analytics 


PCR: 1.18 → Indicates bullish sentiment


Highest Put Writing at 55,000 = Strong base


Call Writing seen around 55,500 & 56,000 = Ceiling for now

---

Conclusion


Key Levels


Support Zone: 54,500 – 55,000


Resistance Zone: 55,500 – 56,000


Trade Plan


Avoid fresh longs at current levels (overbought RSI)


Ideal Entry (BUY on dip): If Bank Nifty dips to 55,000–54,800 zone and holds

→ Go for ATM or 1 strike ITM Call Options (e.g., 55,000 CE)


Breakout trade: Only if 55,500 is taken out with volume

→ Can target 56,000 with 55,500 CE


Caution


Since RSI is above 75, momentum is stretched – trail SL tightly if in a long.


Intraday scalping better near support levels; avoid chasing price above 55,300.


Comments

Post a Comment

Popular posts from this blog

Banknifty analysis 7 june 2025

 Based on images and data, here's a comprehensive intraday analysis for Bank Nifty as of June 6, 2025. --- 📊 Current Market Snapshot: Bank Nifty Spot: 56,578.40 ▲ +817.55 (+1.47%) Momentum (RSI 14): 70.08 — Overbought zone Volume: Spike indicates strength in the breakout. --- 🔍 Technical Chart Analysis: Strong bullish candle with high volume shows a decisive breakout. RSI is at 70+, indicating strong momentum, but also potential short-term exhaustion. Consolidation above 56,200–56,300 previously, now acting as support.-- 🔎 Option Chain Analysis (26 June 2025 expiry): 🔼 Resistance Zones (High Call OI): Strike Call OI Comment 57000 11.45L Strong resistance 56800 1.22L Moderate resistance 56700 1.29L Light resistance 🔽 Support Zones (High Put OI): Strike Put OI Comment 56500 7.12L Strong support 56400 1.77L Moderate support 56600 2.08L Immediate support --- 🧠 PCR (Put/Call Ratio): Overall PCR: 0.98 → Neutral to slightly bullish Rising Put OI at 56...
Read more

Banknifty analysis for 11 June 2025

Based on (Option Chain, OI Analytics, and Intraday Chart for BANKNIFTY as of 11 June 2025), here's a detailed analysis of support, resistance, and a suggested intraday trade plan: --- 🔍 1. SUPPORT & RESISTANCE (based on OI & Price Action) 📉 Resistance Zones 57000:         Highest Call OI at 13.7L. Significant drop in Call prices across strikes (e.g., 57200 CE down -29.82%). Indicates strong resistance as writers are active. 56800 - 57000: Cluster of high Call OI; option writers expect price to stay below this. 📈 Support Zones   56500: Highest Put OI at 7.81L with a massive change of +76020 contracts. Strongest support zone. 56400 - 56600: Strong base of Put writing—buyers showing confidence. --- 📊 2. PCR (Put-Call Ratio) Analysis Overall PCR: 0.95 – Slightly bearish sentiment but near neutral. PCR trend (June 3–9) shows rising PCR till June 9, indicating puts are being added (support is strengthening). --- 🕹️ 3. Intraday Chart Observations (11 ...
Read more

Banknifty analysis for 5 may 2025

 Based on data for Bank Nifty (as of May 2, 2025), here’s a breakdown of key support and resistance levels, followed by the ideal trade setup: --- Chart Analysis : Current Price: 55115.35 RSI: 67.16 (bullish but nearing overbought zone) EMA Support Levels: 50 EMA: 51865 200 EMA: 50581 Structure Observation: Price is in a strong uptrend and respecting moving averages. Immediate consolidation is happening between 55000 and 55600 zones. Strong rejection from highs (long wicks visible) — signs of possible short-term resistance. --- Option Chain Analysis – Monthly Expiry (May 29) Major Resistance Zone 55600 & 55700 strikes have high Call OI: 55600 CE: 1.71L 55700 CE: 1.65L LTPs are declining, showing call writers are defending those levels. Major Support Zone 55000 PE OI: 9.53L (highest Put OI) Followed by 54700-54900 zone with decent Put writing. PCR = 0.9 → Slightly bearish to neutral. --- Open Interest Analytics  Max Call OI: 55000–55600 Max Put OI: 55000 (Strong base) Total...
Read more