Banknifty analysis for 21 july 2025

 Here's a detailed intraday analysis of BANKNIFTY using your chart, options data, and price action for 21th July 2025:--


🔍 Price Action Summary (Daily)


Open: 56,524.25


High: 56,705.15


Low: 56,204.85


Close: 56,283.00


Net Change: -545.80 points (-0.96%)


This shows a bearish candle with strong selling throughout the day. The price broke multiple intraday supports and closed near the day's low, indicating weakness may continue.

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📊 OI Analysis (Monthly expiry – 31 July 2025)


🔻 Put-Call Ratio (PCR):


Current PCR: 0.72 → Bearish sentiment


Trend: Falling PCR from 1.09 to 0.72 → More aggressive call writing


🔼 Call Writing Zones (Resistance Levels):


56500 CE: 8.75 Lakh OI (Major OI build-up)


56300 CE: 1.88 Lakh OI


56000 CE: 14.21 Lakh OI


Resistance Strongest: 56500 zone (also confirmed in OI change)


🔽 Put Writing Zones (Support Levels):


56000 PE: 22.62 L OI (but unwinding of -95,270 contracts)


56200 PE: 1.79 L (moderate support)


Support is weak and unwinding seen → downside pressure remains


📌 Conclusion:


Major Resistance: 56500, 56700


Major Support: 56000 (but weakening), next strong support could be near 55800–55600

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📈 Chart Observation (2H Timeframe + 5 Min Scalping Setup)


Current Price: ~56,283


The chart shows a breakdown from a small range, and price is holding below the breakdown level (56500), forming lower highs & lower lows.

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✅ Intraday Trade Setup (5-Min Timeframe)


Trend Bias: Strongly bearish


🎯 Ideal Trade: SELL ON RISE (Put Side)


🔽 Put Trade Setup:


If price bounces to 56450–56500 zone (resistance), look for rejection candles (Doji, Inverted Hammer)


Enter: 56300 PE or 56200 PE


Target 1: 56050


Target 2: 55800


Stop Loss: Above 56550 (spot basis) OR premium SL (25–30% for PE)

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🔍 Optional: Scalping Setup (Advanced)


Indicator Setup


CPR Price trading below CPR

VWAP VWAP is overhead

Supertrend In sell mode (5-min)

RSI Likely < 40 on 5-min


So, pullbacks to VWAP or 20 EMA on 5-min are good short entries.

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🚨 Key Levels for 21 July (Monday Intraday Bias):


Level Type Price


Immediate Resistance 56450–56500

Strong Resistance 56700

Immediate Support 56200

Weak Support 56000

Breakdown Level 55800

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🔄 What to Watch on Monday:


If price opens gap-up near 56500, check for rejection and go short


If price opens flat to negative, can chase trend below 56200


Avoid longs unless price breaks and sustains above 56550 with volume 

Thanks 

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