Banknifty analysis 29 may 2025

 Based on  data (OI Analytics, Option Chain, and Chart), here's a detailed analysis for BANKNIFTY as of May 28, 2025:

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 1. Price & Technical Chart Overview

BANKNIFTY Spot Price: 55,417

Trend: Consolidation with bullish bias

EMA:

50 EMA (Orange): ~55,274 (current price above it – bullish)

200 EMA (Purple): ~54,366 (strong trend support)

RSI: 53.81 – Neutral, but slightly bullish, not overbought/oversold.

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📊 2. Open Interest (OI) Data Analysis (29 May Expiry)

🔵 OI & PCR Trend:

Put-Call Ratio (PCR): ~0.8 – indicates more call writers → mild bearish/balanced sentiment.

Total Call OI: 2.83 Cr | Total Put OI: 2.28 Cr → More resistance than support.

🔴 Resistance Levels (Call Writing Zones):

55,500 CE: 15.41 L OI (Huge resistance zone)

55,000 CE: 6.78 L OI

54,400 CE: 6.14 L OI

🟢 Support Levels (Put Writing Zones):

55,000 PE: 14.97 L OI (Strongest support)

54,400 PE: 6.33 L OI

55,500 PE: 12.84 L OI → Also decent support (surprisingly!)

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⚡ Perfect Intraday Trade Plan (29 May Expiry)

✅ Trade Setup (Bullish Bias Above 55,300)

If BANKNIFTY sustains above 55,300, consider:

BUY 55,000 CE or 55,400 CE for intraday momentum.

Target: 55,500 (resistance zone).

Stop-loss: Below 55,200 or VWAP.

🔁 Trade Setup (Bearish Bias Below 55,200)

If BANKNIFTY breaks below 55,200 with volume:

BUY 55,500 PE or 55,000 PE.

Target: 54,700–54,400 (next support).

Stop-loss: Above 55,350.

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📌 Intraday Bias Summary:

Above 55,300 Bullish Buy CE

Below 55,200 Bearish Buy PE

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🧠 Final Tips:

Watch 55,000 zone – it's a key pivot.

Avoid aggressive trade between 55,200–55,300 → this is a no-trade zone (chop).

Confirm with volume and RSI trend near support/resistance.