Banknifty analysis for 1 june 2025

 Here’s a refined breakdown of the situation and a potential intraday plan.

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🚧 Key Support & Resistance Levels (July 1 intraday)

Support Zones:

57,200 – recent bounce zone (low of last swing).

57,300 – psychological / minor pullback area.

Intraday option chain shows strong Put OI at 57,300 (~1.8 L) and 57,400 puts (~1.48 L), reinforcing support ~57,300–57,400.

Resistance Zones:

57,400–57,500 – call OI peaks (~1.94 L at 57,400 CE, 6.57 L at 57,500 CE).

The 57,400 strike is also where open interest growth spiked, indicating supply.

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📊 What Charts & OI Tell Us

1. Price action shows a bounce from mid-57k to high-57.3k, then a dip toward 57.2k—holding above 57.3k remains key.

2. Options Open Interest (OI):

Call OI > Put OI overall (≈1.21 Cr vs 1.24 Cr) with PCR slightly above 1 ~1.02: mildly bullish sentiment in options space.

3. OI Change Chart shows rising call additions at 57,400–57,500 and put support accumulation at 57,300–57,400—further suggesting a trading range between 57.3–57.5k.

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🎯 Intraday Trade Setup

Bullish Play (Buy the Dip):

Entry: Buy a 57,400 CE (or conservative 57,300 CE) if Bank Nifty dips to ~57,250–57,300 and shows reversal (bullish candlestick / support bounce).

Target: 57,500–57,600 (~200 points), with the first target at 57,500 (near call OI cluster).

Stop: Below 57,200, invalidating support.

Bearish Play (Sell into Strength):

Entry: Sell a 57,400–57,500 CE if price rallies toward 57,450–57,500 and then shows signs of resistance (weak candles, volume flare but no breakout).

Target: Pullback to 57,300.

Stop: Above 57,550.

📢 Social Media Sentiment % (Estimation)

Options PCR > 1 suggests more puts than calls—signaling caution or mild bearish lean in short-term.

But total call OI remains high, showing balanced but slightly bullish bias.

General sentiment indicators:

If ~60–70% of social posts are bullish, we’d see positive bias but caution—indicative of a limited upside range rather than strong breakout.

If ~50–60% bearish, traders would expect pullbacks with rally attempts failing at resistance.

Estimated Split: Based on mixed options cues and typical Bank Nifty cautiousness, sentiment likely ~55% bullish vs 45% bearish.

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✅ Summary Table

Aspect Support Resistance Sentiment Bias Trade Setup

Price Range Today 57,200–57,300 57,400–57,500 Slightly Bullish Buy dip or Sell strength

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✅ Intraday Trade Plan

1. Watch 57,250–57,300 for a bounce. Buy 57,300 CE or 57,400 CE with tight stops below 57,200.

2. Or, if 57,450–57,500 fails on rally, Sell 57,400/57,500 CE targeting 57,300.

3. Always manage risk: Max 1–1.5% capital per trade.

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🔍 Final Thoughts

Primary bias: Bullish within the 57.2–57.5k channel.

Ideal intraday trade: Buy dips near support (57.3k), aim for resistance (57.5–57.6k).

Be alert for volume and price clarity around these zones.

Sentiment seems mildly positive, but doesn’t signal a breakout—respect that resistance.