Banknifty analysis for 5 may 2025

 Based on data for Bank Nifty (as of May 2, 2025), here’s a breakdown of key support and resistance levels, followed by the ideal trade setup:

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Chart Analysis :


Current Price: 55115.35


RSI: 67.16 (bullish but nearing overbought zone)


EMA Support Levels:


50 EMA: 51865


200 EMA: 50581


Structure Observation:


Price is in a strong uptrend and respecting moving averages.


Immediate consolidation is happening between 55000 and 55600 zones.


Strong rejection from highs (long wicks visible) — signs of possible short-term resistance.


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Option Chain Analysis – Monthly Expiry (May 29)


Major Resistance Zone


55600 & 55700 strikes have high Call OI:


55600 CE: 1.71L


55700 CE: 1.65L


LTPs are declining, showing call writers are defending those levels.


Major Support Zone


55000 PE OI: 9.53L (highest Put OI)


Followed by 54700-54900 zone with decent Put writing.


PCR = 0.9 → Slightly bearish to neutral.

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Open Interest Analytics 


Max Call OI: 55000–55600


Max Put OI: 55000 (Strong base)


Total OI slightly favors calls → caution near resistance


OI Change: Strong Put buildup at 55000 shows buyers are confident in that base.

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Key Levels


Support Zones: 55000 > 54700 > 54400


Resistance Zones: 55600 > 55700


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Perfect Trade Setup (Swing to Intraday)


If Market Opens Near 55000–55100 with Strength:


Trade: Buy 55000 CE or 55200 CE


Target: 55500–55600


Stoploss: Below 54800


Reason: Strong put base at 55000, price holding trend with RSI still bullish.


If Price Rejects 55600–55700 Zone Again:


Trade: Short with 55600 CE or Buy 55700 PE


Target: 55100–55000


Stoploss: Above 55750


Reason: Strong resistance confirmed by price action and OI.


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