Banknifty analysis for 2 july 2025

 Based on charts and data for Bank Nifty (Expiry 31 July 2025), here's a detailed analysis:-


📊 Price Chart & RSI (15 min) Analysis


Current Price: ₹57,442.70


Price Action: Ranging between ₹57,200 and ₹57,600 after a sharp upside.


RSI: ~57.95 – neutral zone (not overbought or oversold).


Candlestick: Consolidation visible near the top of the intraday rally, suggesting either breakout or reversal potential.--


📈 Open Interest (OI) Analysis – Option Chain


Top OI Buildup (Strongest Support & Resistance):


Resistance Levels (CALL OI):


57,000 CE – 7.31L (OI dropped -37K) ✅


57,500 CE – 7.02L (OI added +56.9K)


58,000 CE – 9.00L (Strongest resistance)



Support Levels (PUT OI):


57,000 PE – 12.07L (Huge buildup +84.5K) ✅


57,200 PE – 3.10L (OI buildup +94.2K) ✅


57,500 PE – 6.12L (Strong support)

---


⚖️ PCR (Put/Call Ratio) Analysis


Overall PCR:


1.09 → Bullish bias


Strike-wise PCR:


Max support around 57,000–57,200 (higher PUT OI)


Resistance building around 57,500–58,000

---


📉 OI Change Chart (Bullish Signs)


Put OI Increased at 57,000, 57,200, 57,500


Call OI Decreased at 57,000 (unwinding) = Sign of weakening resistance--


✅ Intraday Confirm Trade Setup


✅ Confirmed Bullish Bias


Support Zone: 57,000–57,200 (Strong PUT writing)


Resistance Zone: 57,500–58,000 (High CALL writing at 58,000)


Ideal Trade:


Buy on dips near 57,200 with SL below 57,000


Target: 57,500–57,650


Risk-Reward: 1:2 potential


Avoid trade if it breaks below 57,000

---


📊 Sentiment Summary


Sentiment Percentage Reason


🔼 Bullish 65% Strong PUT OI buildup, PCR > 1, CALL unwinding at 57,000

🔽 Bearish 35% Resistance still exists at 57,500–58,000, slight RSI cool-off

---


🔁 Conclusion


📌 Trend: Slightly bullish with possible breakout above 57,500


📌 Intraday Plan: Long on dip near 57,200 or breakout above 57,500


📌 Avoid shorting unless 57,000 breaks decisively with volume



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