Banknifty analysis 28 may 2025

 Here’s a breakdown of the BANKNIFTY intraday analysis based on the Open Interest (OI), PCR, and chart:

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1. Key Support & Resistance Levels (Based on OI Data & PCR):

Support Levels:

55000: Highest Put OI at 17.60L with PCR 2.20 — strong support.

55100–55200: Increasing Put OI and rising PCR (1.90–1.33) confirms layered support.

Resistance Levels:

55500: Highest Call OI at 15.93L with PCR 0.91 — strong resistance.

55600–55700: Lower PCR values (0.81–0.52) indicate call writers dominating — next resistance zone.

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2. Technical Chart Analysis:

Price: ₹55352.45, slightly below short-term EMA (50) of 55235.53 and well above long-term EMA (200) at 54301.81 — bullish crossover condition still intact.

RSI: At 50.85, neutral, showing indecision — waiting for a breakout or breakdown.

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3. Option Chain Insights:

PCR (29 May expiry): 0.84 — slightly bearish bias.

Significant Put buildup at 55000, 55200, and 55300 — buyers expecting these levels to hold.

Call buildup is strong at 55500–55800, especially 55500 — sellers capping upside.

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4. Ideal Intraday Setup:

Trade Bias: Bullish with caution (as long as 55200 holds)

Long Trade Setup (Buy CE):

Entry: Near 55200–55250 zone.

Target: 55500–55600 zone (resistance)

Stoploss: Below 55000 (strongest support, breach invalidates bullish view)

Option to trade: 55300 CE or 55400 CE — higher delta, better movement.

Short Trade Setup (Buy PE) (Only if support breaks):

Trigger: If breaks below 55000 with volume

Target: 54700–54500

Stoploss: Above 55200

Option to trade: 55000 PE or 54900 PE

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Conclusion:

As long as BANKNIFTY holds above 55200–55000, bias is bullish intraday.

A pullback to 55200 can be a good entry point for calls.

Avoid trades in the middle of the range (55350–55450) as the risk/reward is poor.