Banknifty analysis 16 may 2025

 Based on OI data, option chain, and Bank Nifty chart, here's the consolidated analysis:

1. Price Action & Chart (15 min TF)

Current Price: 55,355.60

RSI: 65.77 – near overbought, but still has room.

EMA 50 & 200 Crossover: Golden cross around 54,800 – bullish signal.

Strong upward momentum is visible after consolidating above the 200 EMA.

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2. Option Chain Analysis (Expiry 29 May 2025)

Key Levels:

Support Zones (Put OI Build-up):

55,000: 19.19L OI – strongest support

54,900 - 54,800: Moderate support visible

Resistance Zones (Call OI Build-up):

55,500: 11.88L OI – strongest resistance

55,400: 3.51L OI – next resistance

> PCR (Put/Call Ratio): 0.94

Slightly below 1, indicating neutral to slightly bearish bias from option writers but close to equilibrium.

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3. OI & PCR Trend

Steady PCR around 0.9-1.0 across dates shows balanced market, no strong directional bias.

Call OI slightly outweighs Put OI (2.34Cr vs 2.19Cr), showing cautious optimism.

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4. Perfect Trade Setup (Intraday to Swing)

Bullish View (Preferred if Price Holds Above 55,300):

Entry: Above 55,400 breakout

Target: 55,500 – 55,600 zone

SL: Below 55,200

Reason: Bullish crossover + upward momentum + RSI still has room to go up

> Conservative Buy: Near 55,200-55,250 on dip with 55,000 as SL

Aggressive Buy: On breakout above 55,400 with quick targets till 55,500-600

Bearish View (If Rejection from 55,400/55,500 Zone):

Entry: If price fails to sustain above 55,400 and shows reversal

Target: 55,100 – 55,000

SL: Above 55,450

Reason: Heavy call OI at 55,500; potential for profit booking or short buildup

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Conclusion – Trade Plan

Major Support: 55,000 (Strong Put OI)

Major Resistance: 55,500 (Strong Call OI)

Trade Bias: Bullish with caution (Watch 55,400–500 zone)