Banknifty analysis for 3 july 2025

 Here's a breakdown of your Bank Nifty analysis based on price action, OI (Open Interest) data, and RSI:


✅ 1. Major Support and Resistance (based on OI and chart)


🔽 Major Support Zone (Strong Put Writing):


57000 (PE OI = 12.07L) – Strongest put base


56800 (PE OI = 1.56L) and 56900 (PE OI = 1.27L) – Additional support


RSI is also rebounding from oversold (~25 level), indicating potential bounce.


> Conclusion: Support zone = 56800 – 57000

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🔼 Major Resistance Zone (Strong Call Writing):


57000 (CE OI = 9.18L) – Heavy call writing despite being ATM


57300 (CE OI = 2.48L) and 57500 (CE OI = 8.98L) – Additional resistance


> Conclusion: Resistance zone = 57300 – 57500

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📊 2. Confirmed Trade Setup (Intraday)


✅ Bullish Breakout Confirmation:


If BankNifty breaks and sustains above 57000 with volume + RSI > 40, and 57000 CE unwinding starts:


Buy Call (e.g., 57200 or 57300 CE)


Target: 57300–57500


Stop loss: 56900


❌ Bearish Breakdown Confirmation:


If BankNifty breaks and sustains below 56800 with increasing volume and RSI below 30:


Buy Put (e.g., 56700 or 56500 PE)


Target: 56500–56350


Stop loss: 57000


> Note: Look for confirmation in OI shift (Call unwinding / Put writing switching to unwinding).

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📉 3. Open Interest Trend & PCR Analysis


🔁 PCR (Put/Call Ratio)


Current PCR = 0.96 → Neutral to slightly bearish


Earlier value was ~1.2 → PCR is decreasing = Bearish sentiment building

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📣 4. Social Media Sentiment (Based on Trend and Expert Views)


Bullish sentiment: ~40%


Bearish sentiment: ~60%


> 📉 Bearish bias dominates among experts due to:

Strong call writing at 57000–57500


Weak price action


Falling PCR

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🔁 Summary


Indicator Signal


Support 56800–57000

Resistance 57300–57500

RSI Rebounded from oversold (~25), now ~38

PCR 0.96 (slightly bearish)

OI Bias Bearish (strong CE buildup at 57000 & above)

Sentiment (SM experts) 🔴 Bearish 60% / 🟢 Bullish 40%

Intraday Buy Confirmation Breakout above 57000 + CE unwinding + RSI > 40

Intraday Sell Confirmation Breakdown below 56800 + volume + RSI <30

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