Banknifty analysis for 30 apr 2025

 Based on charts and option data for Bank Nifty (as of 29 April 2025), here’s a technical and options-based support and resistance analysis:

---

Chart Analysis:

Current Price: 55,391

RSI (14): 70 — nearing overbought territory; could signal potential pullback if price consolidates.

Trend: Strong uptrend with price well above both 50 EMA (51595) and 200 EMA (50494). Bullish structure overall.

---

Options Chain & OI Analysis (29 May 2025 Expiry):

Major Resistance Levels (High Call OI):

1. 55,500 – 10.89L OI

2. 55,400 – 2.23L OI

3. 55,300 – 1.66L OI

4. 55,600 – 2.23L OI

> Conclusion: 55,500 is the strongest resistance due to the highest call OI build-up.

Major Support Levels (High Put OI):

1. 55,100 – 9.20L OI

2. 55,000 – 9.11L OI

3. 55,300 – 1.80L OI

4. 55,400 – 1.79L OI

> Conclusion: 55,000 – 55,100 is a strong support zone based on high put OI.

---

PCR (Put-Call Ratio):

Overall PCR: 0.91

Suggests slightly bearish to neutral sentiment.

However, still near 1.0, indicating some support present.

---

Final Levels:

Major Support Zone: 55,000 – 55,100

Immediate Resistance: 55,500

Breakout Resistance: 55,600 – 55,900