Banknifty analysis 27 may 2025

 Based on the data and charts for Bank Nifty, here's a detailed analysis for Intraday trading:

1. Price Action & Chart Analysis (4H Timeframe)

Current Price: 55,572 (or ~55,559 in TradingView chart)

Trend: Short-term bullish with higher lows and price above 50 EMA.

RSI: Around 59.47 — mildly bullish, not overbought.

Support (EMA):

50 EMA: ~54,494 – Key short-term support

200 EMA: ~52,345 – Stronger positional support

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2. Option Chain Analysis (Expiry 29 May 2025)

Support Levels (Put OI Build-up):

55,000 PE: 14.17L OI (strongest support)

54,400 PE & 54,300 PE: Decent base forming

Resistance Levels (Call OI Build-up):

56,000 CE: 16.07L OI (strongest resistance)

55,800 CE & 55,700 CE: Additional resistance zone

PCR (Put/Call Ratio): 0.84 → Mildly Bearish sentiment

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3. OI Trend (from OI Analytics):

Total Call OI: 2.79 Cr vs Put OI: 2.35 Cr → Call writing pressure dominates

Max Call OI: 56,000

Max Put OI: 55,000

OI shift suggests market is range-bound between 55,000 – 56,000

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Key Levels for Intraday (26 May 2025)

Support Zones:

55,000 (psychological & OI support)

54,500 (EMA level)

Resistance Zones:

55,700 – 56,000 (OI & price resistance)

Break above 56,000 may trigger short covering rally

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Perfect Intraday Trade Setup

Scenario 1: Gap-Up/Flat Opening near 55,600–55,700

Strategy: Look for rejection around 55,700–55,800 (resistance zone)

Trade: Short (Buy 55,600 or 55,700 CE PE options)

Target: 55,300 / 55,100

Stop Loss: Above 55,850

Scenario 2: Drop to 55,100–55,000 zone

Strategy: Watch for bounce near 55,000 (Put writers likely to defend)

Trade: Buy 55,000 or 55,100 CE if reversal signal appears

Target: 55,500 / 55,700

Stop Loss: Below 54,850

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Quick Bias Summary:

Range: 55,000 – 56,000

Bias: Neutral to slightly bullish

Trade preference: Buy on dips near 55,000 or sell on rise near 55,800