Banknifty analysis 7 june 2025
Based on images and data, here's a comprehensive intraday analysis for Bank Nifty as of June 6, 2025.
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π Current Market Snapshot:
Bank Nifty Spot: 56,578.40 β² +817.55 (+1.47%)
Momentum (RSI 14): 70.08 β Overbought zone
Volume: Spike indicates strength in the breakout.
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π Technical Chart Analysis:
Strong bullish candle with high volume shows a decisive breakout.
RSI is at 70+, indicating strong momentum, but also potential short-term exhaustion.
Consolidation above 56,200β56,300 previously, now acting as support.--
π Option Chain Analysis (26 June 2025 expiry):
πΌ Resistance Zones (High Call OI):
Strike Call OI Comment
57000 11.45L Strong resistance
56800 1.22L Moderate resistance
56700 1.29L Light resistance
π½ Support Zones (High Put OI):
Strike Put OI Comment
56500 7.12L Strong support
56400 1.77L Moderate support
56600 2.08L Immediate support
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π§ PCR (Put/Call Ratio):
Overall PCR: 0.98 β Neutral to slightly bullish
Rising Put OI at 56500β56600 indicates bullish sentiment for now.
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π Key Support:
56500 (Strong Put Writing β 7.12L OI)
56400β56600 zone is acting as a base.
π§ Key Resistance:
57000 (Strongest Call Writing β 11.45L OI)
56700β56800 minor resistance before that.
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π‘ Perfect Intraday Trade Setup:
Scenario 1: Bullish Intraday Bias (Preferred)
Entry: On dip near 56500β56550
Target: 56800 / 57000
Stoploss: Below 56400
Reason: Strong support at 56500, RSI strength, heavy put writing.
> π’ Buy on Dip Strategy is ideal unless price rejects 56500 strongly.
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Scenario 2: Bearish Reversal (If 57000 Holds Firmly)
Entry: Near 56980β57000 zone
Target: 56700 / 56550
Stoploss: Above 57080
Reason: High OI at 57000 could cause intraday reversal.
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π Watch for:
Volume confirmation on any breakout/breakdown.
OI changes live β if fresh put unwinding starts below 56500, shift bias quickly.
RSI above 70 β aggressive longs only on confirmation of dip-buying.
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