Banknifty analysis for 1 aug 2025

 Based on the Open Interest (OI) data, OI change, and price chart for Bank Nifty (spot: 55961.95, expiry: 28 Aug 2025), here's the detailed analysis:---


📊 1. OI Data Summary (from Option Chain and Charts):


🟩 Put Side (Support Levels):


Strike Put OI Change View


56000 7.46L +1.78L Strong support

55900 94.6K +65.6K Medium support

55800 87.9K +54.6K Medium support



> 56000 PE has highest OI among puts → strongest support zone




🟥 Call Side (Resistance Levels):


Strike Call OI Change View


56000 5.34L +2.46L Strong resistance

55900 73.9K +65.5K Weak resistance

55800 51.1K +34.4K Weak resistance



> 56000 CE has highest OI → major resistance zone.

---


📈 2. Chart and Price Action (2h chart)


Strong bounce from ~55400 zone


Current candle shows consolidation near 55950–56000


Volume spike on bullish candle suggests short covering rally


Resistance faced near 56000 psychological and OI level

---


📉 3. PCR (Put-Call Ratio):


PCR (Current): 0.90 → Mildly bearish to neutral


Falling PCR trend indicates short-term pressure from Call writers

---


🧠 4. Inference and Trade Plan


🔹 Major Resistance:


56000 (Strongest resistance due to highest CE OI and fresh call writing)


Intraday upside may be capped unless price sustains above 56050–56100



🔹 Major Support:


55500–55600 (Recent bounce zone + technical base)


56000 PE buildup confirms strong buyer interest below 56000

---


✅ Intraday Trade Setup:


📍 Setup 1: Rejection Trade near Resistance


If price fails to sustain above 56000–56050 and shows reversal (like shooting star / bearish engulfing on 5m):


📉 Trade: Short with target 55750–55650


🔒 Stop Loss: Above 56080


⚠️ Reason: Strong OI resistance, multiple rejections




📍 Setup 2: Breakout Long Trade (Momentum)


If price sustains above 56100 with volume + 5-min bullish candle close:


📈 Trade: Buy CE for targets 56300–56400


🔒 Stop Loss: Below 56000


⚠️ Reason: Resistance breakout with short covering

---


📌 Conclusion:


Key Intraday Levels:


Support: 55500 / 55650


Resistance: 56000 / 56100



Watch for price action at 56000 — it's the battle zone due to max OI on both sides

Thanks 

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