Banknifty analysis 4 june 2025

 Based on the option chain, open interest analytics, and price action chart, here is a detailed intraday analysis for Bank Nifty (as of 3rd June 2025):

🔍 Major Levels (Support & Resistance)

📉 Support Levels:

         55,500:Marked as major support on the chart.

         Put OI at 55,500 is 5.47L (strong base).

 Price bounced from this level before.             

55,300 – 55,400 zone:

Increasing Put OI.

LTPs of PUTs rising = buyers stepping in = confidence in support.

📈 Resistance Levels:

56,000:

Massive Call OI (22.24L) – strong resistance.

Clearly shown as major resistance on your chart.

55,700 – 55,800:

High call writing, e.g., 2.60L OI at 55800, 1.88L at 55700.

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📊 OI Data & PCR Analysis:

PCR (Put/Call Ratio) = 0.83, which indicates:

More Call writing than Put writing → bearish to neutral sentiment.

Change in OI:

Huge Call buildup at 56000.

Put unwinding seen at 55600 and below = weaker downside defense.

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📈 Chart Analysis (1hr time frame):

Price currently at 55,599.95, very close to the support (55500).

RSI = 47 → neutral zone, no extreme overbought/sold.

Price forming a range between 55500 and 56000.

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✅ Perfect Intraday Trade Setup (Strategy)

📍 Scenario 1: Price takes support at 55500

Trade: Buy Call near 55500 with SL at 55380.

Target: 55700 – 55800.

Rationale: Strong support, Put buildup, potential bounce.

📍 Scenario 2: Price breaks below 55500 with volume

Trade: Buy Put if 55480 breaks with volume.

SL: 55600 (recent swing high).

Target: 55200–55300.

Rationale: Breakdown of major support + Put unwinding confirms weakness.

📍 Scenario 3: Price tests 56000

Trade: Sell on rise near 55950–56000 (Call writing zone).

Use 56000 CE for short or buy PE.

SL: 56050.

Target: 55700–55600.

Rationale: Strong resistance, highest Call OI, market sentiment bearish-neutral.

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🔁 Option to Watch (Intraday Plays):

Buy 55500 CE (if price bounces) – current LTP ~757.

Buy 55800 PE (if 55500 breaks) – current LTP ~899.

📌 Summary

Level Observation Action

56000 Major Resistance (OI + Chart) Sell zone

55500 Major Support (OI + Chart) Buy zone (unless broken)

PCR 0.83 Bearish-neutral Avoid aggressive longs

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