Banknifty analysis 2 june 2025

 Based on (option chain, OI analytics, and 1-hour Bank Nifty chart), here’s a detailed intraday analysis for 2nd June 2025:

📊 Price & Technical Overview (Chart)

Current Price: 55,755

Support from EMAs:

50 EMA: 55,372

200 EMA: 54,476

RSI (14): 60.86 (indicates bullish momentum but not overbought)

Volume: Increasing with price – a positive sign for continuation

🔎 Observation: Price is trading above both 50 and 200 EMAs. RSI is supportive. Trend is clearly bullish on the 1-hour chart.

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🔐 Key Support and Resistance Levels (Based on OI and Chart)

🔽 Supports:

1. 55,300 – 55,500 Zone:

Strong Put OI at 55,500: 5.57L

Also backed by chart structure and moving averages

2. 55,000 Level (psychological + OI level)

🔼 Resistances:

1. 56,000:

Highest Call OI: 19.25L

Strong rejection likely here unless broken with volume

2. 55,800:

Moderate Call OI: 1.44L

Can act as intraday barrier before 56K

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📈 Open Interest and PCR Analysis

PCR: 1.02 (Neutral to Slightly Bullish)

Put OI > Call OI at 55,500 and 55,300 – strong base building

Huge call buildup at 56,000 = potential resistance zone

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⚡ Intraday Trade Plan (2nd June 2025)

✅ Bullish Bias Above 55,750

> Trade Idea: Buy on dips near 55,500–55,600 zone

Entry: Near 55,550–55,600

Target 1: 55,800

Target 2: 56,000

Stop Loss: 55,420 (below EMA cluster and Put OI support)

📌 Option Trade: You can look at ATM or slightly ITM Calls, e.g., 55,500 or 55,600 CE for intraday scalping.

🚨 Caution / Reversal Zone

If price breaks below 55,300 with volume, bearish bias can resume.

In that case, look for Put buying at 55,300 PE targeting 55,000.

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🔁 Summary

Level Type Strength

56,000 Resistance Very Strong (OI based)

55,800 Resistance Medium

55,500 Support Strong (OI + EMA)

55,300 Support Medium

> 🎯 Ideal Trade: Buy near 55,550-600 zone targeting 55,800/56,000 with SL 55,420