Banknifty analysis 19 may 2025

Based on the  (option chain, OI analytics, and BankNifty chart), here’s a full analysis of support, resistance and potential trade setup for expiry 29 May 2025:


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1. Support & Resistance (from Option Chain & OI Analytics)

Major Resistance Zones:

55500 CE has the highest Call OI (12.58L) – strong resistance.

55400 CE (3.73L OI) and 55300 CE (3.61L OI) also show good resistance.

Prices are near 55354 – so 55500 zone is the immediate resistance.


Major Support Zones:

55000 PE has highest Put OI (19.76L) – strong support.

55400 PE (2.96L OI) and 55300 PE (3.64L OI) show good addition as well.

55000 is the strongest support, with PCR ~0.9, indicating slight bearish to neutral sentiment.



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2. Technical Chart Analysis (1-Hour TF)

Price: 55350.80, testing 55300-55400 resistance zone.

RSI: At 61.03 – neutral to slightly bullish.

EMA 50: 54951, EMA 200: 53648 → Price is above both – bullish signal.

Volume on recent candles is low, but not negative.


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3. PCR & OI Trend Insights

PCR is 0.90 – not strongly bullish, more range-bound or mildly bearish.

Gradual increase in both Put and Call OI from 9 May to 15 May suggests consolidation phase.

Total OI: Calls (2.36 Cr) > Puts (2.13 Cr) → Slight pressure from call writers.



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4. Trade Plan Suggestion

Bullish Bias (if price sustains above 55400):

Wait for sustained breakout above 55400 with volume.

Buy 55500 CE if it breaks with strong price action. SL: 55200 / Target: 55700+.


Bearish Bias (if price rejects 55400-55500 zone):

If price gets rejected near 55400-55500 zone with weakness:

Buy 55000 PE. SL: 55550 / Target: 54600-54800.


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5. Scalping Opportunity (based on your preference):

Buy near 55000–55100 zone if tested again with reversal candle, targeting 55400.

RSI > 60 and price above EMAs supports intraday dips for buying.



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Conclusion:

Major Support: 55000

Major Resistance: 55500

Bias: Mildly bullish but cautious.

Ideal Trade: Buy above 55400 for CE, Sell below 55200 for PE.

Scalping Range: 55100–55400.



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