Banknifty analysis 26 may 2025

 Based on the data from the option chain, OI analytics, and chart for Bank Nifty (spot at 55398), here's a detailed intraday analysis:-


1. Key Support and Resistance Zones (Based on OI and Chart):


Support Levels:


55000 – Highest Put OI at 17.60L (strong support zone).


54100-54200 – 200 EMA zone on the chart; strong dynamic support.


53500-53600 – Previous demand area (visible on the chart).


Resistance Levels:


55500 – Highest Call OI at 13.38L (strong resistance).


55600 – Call OI buildup (3.43L), and chart price stalled near this previously.


55900 – Another notable Call OI area.

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2. Option Chain Insights:


PCR (Put-Call Ratio): 0.86 (bearish to neutral bias).


Highest OI Buildup:

                       #   Calls at 55500


                     #    Puts at 55000


Implied volatility seems elevated with sharp changes in option premiums (esp. calls).

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3. Technical Chart Overview:


Price above 50 EMA (55079) and far from 200 EMA (54105), bullish bias.


RSI at 61.30 – trending up, near overbought but not extreme.


Formation of higher lows, indicating buying pressure.


Breakout around 55380–55400, retesting resistance.

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4. Ideal Intraday Strategy:


Scenario A: Price Sustains Above 55400


Trade: Buy on dip near 55350–55380

Target: 55550–55600

Stop-loss: 55280

Reason: Call writers at 55400/55500 may unwind if 55400 sustains.


Scenario B: Price Rejected at 55500


Trade: Short near 55480–55500

Target: 55200–55100

Stop-loss: 55560

Reason: Heavy call OI suggests resistance.

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Bonus Tip (Scalping View):


If momentum sustains above 55500 with volume and RSI > 65, quick scalping up to 55600–55650 possible.


Avoid longs below 55200 as weakness may intensify toward 55000.

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