Banknifty analysis for 8 july 2025

 Based on data and charts. here's a complete intraday analysis of Bank Nifty as of 7th July 2025.

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🔍 Technical Analysis


📈 Chart (1-hour candles)


Current Price: ~56,918


Recent Low: ~56,657 (visible support)


RSI: Around 47 – neutral zone (neither overbought nor oversold)


Trend: Recent pullback from highs (~57,600), consolidation visible.

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🔐 Major Support and Resistance Levels


🔻 Support Zones


1. 56,650 – previous swing low (visible support zone)


2. 56,500 – strong Put writing + previous consolidation


3. 56,000 – psychological level + minor OI support


🔺 Resistance Zones


1. 57,000 – Strongest resistance (highest Call OI: 11.78L)



2. 57,200–57,300 – Additional resistance visible on OI data



3. 57,500 – very high Call OI buildup (9.78L), next wall if 57,000 breaks

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📊 Open Interest (OI) Analysis


🧮 Key Observations


57,000 CE has very high OI: 11.78L – strong resistance


57000 PE has 12.99L – big support (but decreasing by 1855 OI)


PCR (Put-Call Ratio) = 0.95 → Slightly bearish to neutral


🔄 OI Change


Call OI increased at 57,000 & 57,200 → Resistance is building up


Put OI saw unwinding at 56800 and 57000 → Weakening support

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📉 Option Chain Bias (31 July Expiry)


Strike Call OI (L) Put OI (L) Call OI Change Put OI Change


57000 11.78 12.99 +84,735 -1,855

56900 1.05 1.83 +18,060 +23,485

56800 0.92 2.16 -2,205 -35,210



➡ Put side unwinding at lower strikes shows weakening bullish support.


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✅ Perfect Intraday Trade Setup (Scalping Bias)


🎯 Trade Idea: Bearish Bias (until 57,000 is broken)


Sell near Resistance: If price tests 57,000–57,050 with rejection, consider:


Buy 57,000 PE (ATM)


Or Sell 57,000 CE (if theta decay is favorable)



Target: 56,700–56,650


Stoploss: 57,100 (strict)


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🟢 Alternative Bullish Trade (Only if breakout above 57,000)


If price sustains above 57,000 + OI unwinding visible:


Buy 57,000 CE


Target: 57,200 / 57,300


SL: 56,850

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🧠 Summary


Bias Entry Level SL Target Notes


Bearish 56,950–57,000 57,100 56,650–56,700 Strong resistance at 57k

Bullish (Breakout) Above 57,050 56,850 57,200+ Only if OI supports


Thanks 

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