Banknifty analysis for 23 june 2025

 Let's analyze  BANKNIFTY data based onpen interest and chart step-by-step:-


📊 1. Option Chain Insights (Exp: 26 June 2025)


Current Spot: 56252.85 (+1.22%)



Resistance Levels (based on Call OI):


Strike Call OI Notes


56000 22.11L Highest OI - Strong Resistance

56500 13.53L Resistance

56600 3.31L Minor Resistance



Support Levels (based on Put OI):


Strike Put OI Notes


56000 23.29L Strong Support (almost same level as call side)

55800 5.82L Minor Support

56200 3.74L Moderate Support



PCR (Put/Call Ratio): 0.87 → Indicates slightly bearish bias (below 1)

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📈 2. OI Change Analytics


Put OI rising at 56000 → Bulls trying to defend this level.


Call unwinding at 56000 → Short covering may help upside.


Decrease in overall Call OI from 55800 to 56300 range.

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📉 3. Price Action


Current: 55694.70 (from TradingView 1H chart) → Trying to reclaim 56216.50 (last candle).


RSI: 64.69 (neutral to bullish zone).


Price is rebounding from 55200–55500 zone with momentum.

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📍 4. Summary (Support & Resistance)


Level Zone Type


55800–56000 Strong Support

56500–56600 Strong Resistance

55200 Emergency Support (if breaks below)

56800 Extreme Resistance


🚀 5. Ideal Intraday Trade Setup for Tomorrow


Scenario: Market looks mildly bullish above 56200. Call writers are reducing positions. Bulls protecting 56000.


🔹 Trade Setup 1: Bullish Intraday (Buy on Dips)


Entry Above 56250 on retest


Stop-Loss 56080

Target 1 56500 (1st Resistance)

Target 2 56600 (Extreme)



Confidence: High if price breaks 56250 with volume.

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🔸 Trade Setup 2: Bearish Intraday (If fails below 56000)


Entry Below 55950 (breakdown)


Stop-Loss 56150

Target 1 55650

Target 2 55250


Confidence: Medium. PCR still < 1 (mildly bearish), watch for confirmation.

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🧭 Conclusion


Major Support: 56000


Major Resistance: 56500


Bias: Mildly bullish if holds above 56000–56200.


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