Banknifty analysis for 4 July 2025

 Based on Bank Nifty data (price chart, RSI, open interest analysis, and option chain), here’s a breakdown of the current support/resistance levels and the most logical intraday trade setup:


📉 1. Price Action + RSI Analysis

 (chart view):


Price: ₹56,772.75 (as of last candle close)


RSI: 36.12 – indicating weak momentum, approaching oversold but not quite there.


Recent Trend: Price made a lower high and is now pulling back. A breakdown of 56,700 could intensify the fall.

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🔍 2. Open Interest Analysis (Monthly Expiry - 31 July 2025)


📊 Key Open Interest Levels:


Highest Call OI:


57000 CE → 10.11L (Strong resistance)


Followed by 56800 and 56700 CE


Highest Put OI:


56500 PE → 5.15L (Support)


Followed by 56800 and 56900 PE


🟣 PCR (Put/Call Ratio):


Overall PCR: 0.93 → Slightly bearish/balanced


Recent Drop in PCR: Indicates rising call writing and reduced bullishness.



🔄 OI Change:


Big Call addition at 57000 → Strengthens resistance


Puts are unwinding at 56500 and 56400 → Weakening support


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🧭 3. Support & Resistance Summary


Type Level Reason


🔼 Resistance 57000 Highest Call OI + fresh addition

🔼 Resistance 56800 Second-highest CE buildup

🔽 Support 56500 Highest Put OI, though unwinding seen

🔽 Support 56300-56400 Minor PE support but weakening

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✅ 4. Perfect Intraday Trade Setup (3 July 2025 closing for 4 July)


📌 Bias: Bearish to Neutral


Trigger Level (Breakdown): If Bank Nifty breaks below 56650, it can quickly test 56500–56400 zone.


Target: 56400–56300


Stop Loss: 56780 (previous candle high zone)



✅ Trade Setup - Buy PE:


Strike: 56600 PE or 56500 PE


Entry: On breakdown below 56650 with volume


Target (PE value): 700–800+


SL (PE value): 550 or based on price reversal above 56800

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✳️ Alternative Setup (if market gaps up):


If Bank Nifty opens near 56800–57000 but fails to sustain above 57000:


Look for reversal from resistance


Same PE strike can be used-


⚠️ Caution:


Volatility is increasing near expiry.


Avoid trades if Bank Nifty stays in 56700–56800 range for long without direction.



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