Banknifty analysis for 29 July 2025

 Based on  OI data, chart, and price action for BankNifty (Expiry: 31st July 2025), here is a detailed intraday analysis:---


📊 1. Price Action Analysis (Chart View):


Current Price: 56084.90 (down by 444 points, bearish tone)


Last candle closed near 56053, near the day’s low (56051.95).


Downtrend is clearly visible; strong bearish momentum.

--


🔍 2. Option Chain Analysis (OI & OI Change):


➤ Key Call OI Levels (Resistance):


Strike Call OI Change Interpretation


56500 11.52L -4.75L Unwinding; weak resistance

56400 4.50L -3.10L Weakening resistance

56100 2.03L -1.75L Unwinding sharply

56000 6.70L -2.76L Major resistance but unwinding



➡️ Conclusion: Strong call unwinding across strikes shows that resistance is falling, indicating bears are in control and no strong resistance till 56500.

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➤ Key Put OI Levels (Support):


Strike Put OI Change Interpretation


56000 12.27L -7385 Strong support (holding)

56100 2.77L +1.28L Some addition, not strong yet

55800 2.34L +46620 Support building up here

55700 2.30L -12670 Weakening support



➡️ Conclusion:


56000 PE is major support but under pressure.


Put OI build-up is happening at 55800, suggesting support may shift lower if 56000 breaks.

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🧮 3. Put-Call Ratio (PCR):


Overall PCR: 0.6 – Bearish


Declining PCR over the days shows increasing bearishness.

---


📈 4. OI Change Graph (Intraday Trend):


Call OI (Red) increasing after 12:30 PM.


Put OI mostly stable or unwinding – further confirms bearish pressure.

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✅ Conclusion: Key Levels


🔴 Resistance Zones:


56100 – Weak resistance (Call unwinding)


56400 – Moderate resistance


56500 – Strong resistance (historical, but unwinding)


🟢 Support Zones:


56000 – Major support (but weakening)


55800 – Fresh support building


55700 – Not very reliable now


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📌 Intraday Trade Plan (High Probability Trade Setup):


📉 Trade Setup: Sell on Pullback


Entry (CE sell or PE buy): Near 56120–56150 (if price retests this zone and rejects)


Target: 55850 / 55750


Stop Loss: 56200 (just above resistance)



🧲 Aggressive Breakdown Trade:


Sell below: 55980


Target: 55800 → 55700


SL: 56050



> ✅ Wait for confirmation via price action (rejection candles or breakdown on 1-min/5-min with volume).



🛑 Avoid Buying Unless:


Price reclaims above 56200 with volume and sustained momentum.

---


Thanks  

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