Banknifty analysis for 24 july 2025

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

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📊 1. OI (Open Interest) & PCR Analysis


🔵 PCR (Put Call Ratio):


Current PCR is 0.74 (OI trend) and 0.96 (Live OI).


This is a bearish-to-neutral sentiment (PCR below 1 indicates calls > puts).



🔺 Call Writing Zones (Resistance):


57000 CE: 15.27 L OI (very high) with OI change -4.57L → indicates short covering.


57500 CE: 12.00 L OI (strong resistance remains) with OI change -2.86L.


57300 CE: Fresh addition of +38,780 contracts → possible resistance building.



🔻 Put Writing Zones (Support):


57000 PE: 15.81 L OI (highest support), OI Change +4.82L → strong support confirmed.


56800 PE: 4.98 L OI with +1.45L addition → immediate support.

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🧾 2. Option Chain Summary


Strike Put OI Call OI Remarks


57000 15.81L 15.27L Key Pivot (both side activity)

56800 4.98L 2.87L Support Zone

57500 3.80L 12.00L Resistance Zone

57300 2.08L 4.54L Minor Resistance

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📉 3. Price Action (Chart)


Current Price: 57210


Previous High: 57260


Strong support area: 57000, price bounced several times from here.


Price is near a minor resistance zone of 57260–57300, where CE OI buildup is noted.

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🟢 4. Ideal Intraday Trade Setup


⚡ Trade Idea 1: Buy on Dip (Bullish Bounce Setup)


Entry: Near 57000-57020 (if price pulls back and holds)


Target 1: 57260


Target 2: 57400


Stop Loss: Below 56920 (70–80 points max)


✅ Why this trade?


Strong put writing at 57000 (support).


Call writers covering their positions at 57000.


PCR rebounding intraday (improving bullish sentiment).

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🔻 Trade Idea 2: Sell on Rejection (Bearish Reversal Setup)


Entry: Near 57300–57320 (if rejection with volume appears)


Target 1: 57120


Target 2: 57000


Stop Loss: Above 57360



✅ Why this trade?


57300–57500 CE showing buildup, indicating resistance.


If price rejects from this zone with a bearish candle on 5-min, it’s a good short.

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🔄 Trend Bias Summary


Short-term Bias: Bullish above 57000


PCR: Recovering but still <1 (neutral to bullish bias building)


OI Flow: Put writing > Call writing → supports pullback buying

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✅ Final Suggestion (Scalper/Fast Intraday)


If you’re a scalper or quick intraday trader (as per your earlier chats):


Watch 1-min and 5-min price action near 57000 (support) and 57300 (resistance).


Look for volume confirmation and wick rejections.


Avoid trade inside range (57080–57260), focus on edge trades.


Thanks 

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