Banknifty analysis 10 june 2025

 Based on the OI data, option chain, and chart for Bank Nifty (as of June 10, 2025), here's a detailed intraday analysis:

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🔍 1. Technical Chart Analysis (Chart BankNifty 1h):


Price: ₹56,839.60


RSI (14): 69.60 → Close to overbought zone (>70)


Recent Price Action: Sharp rally from around 55,300 to 56,800+ with strong volume, but now consolidating near the top.


Price Rejection: Seen slight pullback from intraday high (~56,857), indicating some resistance.

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📊 2. Open Interest & PCR Analysis:


From OI Chart:


PCR (Put/Call Ratio): Increasing, currently ~1.34 (bullish sentiment for now).


Total OI: Call - 1.89 Cr, Put - 1.90 Cr (Balanced but slightly put-heavy).


Key OI Levels:


Support (Put Writing):


56500 – 7.10L OI (Strongest support for now)


56400 – 2.01L OI


Resistance (Call Writing):


57000 – 12.14L OI (Very strong resistance)


56900 – 2.53L OI

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🧠 3. Option Chain Insights (26 Jun Expiry):


Max Call OI: At 57000 (strong resistance)


Max Put OI: At 56500 (strong support)


OI Change suggests strong unwinding in puts at ATM/ITM levels indicating profit booking or shift in sentiment.

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🧱 Support & Resistance (Intraday):


Level Type Price Level Reason


Strong Support 56500 High Put OI + historical price action

Interim Support 56400 Decent Put OI

Immediate Resistance 56900 Minor Call writing visible

Major Resistance 57000 Highest Call OI → Likely short zone

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🧾 Conclusion – Ideal Intraday Strategy:


🔼 If Price Holds Above 56500:


Bias: Bullish


Trade: Long on dips near 56550–56600 zone


Target: 56900–57000


SL: Below 56400 (confirmed breakdown)


🔽 If Price Rejected Near 57000 Again:


Bias: Bearish


Trade: Short near 56950–57000 zone


Target: 56600–56500


SL: Above 57050


✅ Perfect Trade Setup Suggestion (Intraday, June 11):


> Sell on Rise near 56950–57000 if RSI remains near 70 and price shows rejection.


Entry: 56950–57000 (look for price action reversal)


Target: 56600–56500


SL: 57050 (strict)


Lot Size: Adjust as per risk.


🟡 OR


> Buy on Dip near 56500–56550 if market opens lower and bounces.


Entry: 56500–56550


Target: 56900


SL: 56400


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