Banknifty analysis 6 june 2025

 Based on option chain, OI analytics, and technical chart of BANKNIFTY (as of June 5, 2025), here's a detailed analysis to determine major support/resistance and the ideal intraday trade setup:

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🔍 Key Observations


📊 Technical Chart Analysis:


Price: Trading at 55809.75


Resistance Zone: 56000 (identified both technically and from OI data)


Support Zone: 55500 (clear bounce zone with high volume)


RSI: Around 55.76, neutral zone (neither overbought nor oversold)

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🔐 Option Chain Insights (26 June 2025 expiry):


🔻 CALL Side (Resistance Levels):


56000 CE: 22.85L OI, high buildup, strong resistance


55900 CE: 2.43L OI


55800 CE: 3.11L OI



🔺 PUT Side (Support Levels):


55500 PE: 6.83L OI (strongest support)


55700 PE: 2.33L OI


55600 PE: 2.08L OI

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📉 OI and PCR (Put-Call Ratio) Analysis:


Overall PCR = 0.79: Indicates bearish bias


OI Trend: More buildup in CALLs than PUTs, confirming resistance at higher levels

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🧭 Conclusion: Key Levels


🔼 Resistance (strongest): 56000


🔽 Support (strongest): 55500

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📈 Intraday Trade Setup (June 6, 2025)


✅ Scenario 1: Gap-Up or Opening Near 56000


Trade: Look for shorting opportunity (BUY PUT)


Target: 55600–55500


SL: 56080 (just above resistance)


Reason: 56000 is a strong OI resistance + rejection from this zone is likely


✅ Scenario 2: Opening Near 55500


Trade: Look for long opportunity (BUY CALL) only if price shows reversal candles (pin bar, bullish engulfing)


Target: 55700–55800


SL: 55450


Reason: 55500 has strong PUT OI, acting as demand zone


❌ Avoid Trade: If price stays between 55600–55800 without momentum or volume spike (no clear direction)

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🔄 Real-time Confirmation:


Watch for:


Volume spikes near 55500 or 56000


Price action signals (Doji, engulfing, pin bar)


Rapid OI shift intraday

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