Banknifty analysis for 28 july 2025

 Here's a detailed intraday analysis of BankNifty using  chart, OI data, and OI change  for expiry 31 July 2025.

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🔍 Price & Chart Overview:


Current Spot: 56,528.90 (down -537 pts / -0.94%)


Chart (2hr TF) shows a clear downtrend, with repeated lower highs.


Recent breakdown below 56,600 zone with strong red candles and increasing volume indicates bearish sentiment.

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📊 Option Chain Analysis (as of 10:04 AM)


🔴 Call Side (Resistance):


Strike OI (in Lakh) Change in OI LTP View


57000 20.95L ➕ Strong addition ₹155 Strong Resistance

56800 6.56L ➕ Addition ₹214.50 Resistance

56700 5.10L ➕ Addition ₹255.20 Minor Resistance

56600 3.71L ➕ Increase ₹298.70 Near to spot – Immediate Resistance



🟢 Put Side (Support):


Strike OI (in Lakh) Change in OI LTP View


56000 12.58L ➕ Huge Addition ₹138 Strongest Support

56500 8.34L ➕ Addition ₹305.30 Weak Support (being broken now)

56400–56300 ~2.6L–3.2L ➕ Additions ₹266–225 Weak to medium support


📈 OI Analytics Insights:


PCR = 0.67 (Bearish bias. Below 0.8 is weak PCR)


Call OI > Put OI = 2.4 Cr vs 1.62 Cr ⇒ Sellers are more active on the Call side → Resistance is stronger.


OI Change: Heavy call writing at 57000 & 56800. Put unwinding seen at 56500–56300 levels ⇒ Downside pressure building.


Multi-Strike OI Trend: Red line (56600CE) increased while price fell ⇒ Call writers becoming confident

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🧭 Key Levels for Intraday


✅ Resistance Zones:


56600 – Immediate & psychological barrier (price rejected near this multiple times)


56800 – Second resistance (OI buildup, historically rejected)


57000 – Strong wall. 20.95L OI



✅ Support Zones:


56000 – Major put base; big support


56200–56300 – Intraday support but weak

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🎯 Perfect Intraday Trade Setup (with minimal stop loss):


🔻 Trade Idea – Sell on Rise (Bearish Bias)


Scenario 1: Pullback Entry


Sell Near: 56600–56650 (retest of breakdown zone)


SL: Above 56720 (just above swing high & resistance)


Target 1: 56300


Target 2: 56000


Scenario 2: Breakdown Entry


Sell Below: 56460 (new breakdown)


SL: Above 56540


Target 1: 56200


Target 2: 56000


✔️ Choose OTM PUTs like 56400PE / 56200PE with momentum if breakdown continues.

✔️ Avoid buying CALLs until PCR improves above 0.85 and fresh Put writing resumes.


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✅ Summary:


Aspect View


Trend Bearish (confirmed by chart, OI, PCR)

Resistance 56600, 56800, 57000

Support 56300, 56000

Bias Sell on rise / Breakdown Sell

PCR 0.67 → Bearish

Best Entry Sell near 56600 or on breakdown below 56460

Best SL Keep SL within 70–90 points for risk control


Thanks 

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