Banknifty analysis 29 aug 2025

  OI data + candlestick structure + change in OI step by step to find major support/resistance and the best intraday trade with minimal SL.

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🔎 1. Chart & Price Action

BankNifty Spot = 53,820 (-1.16%)

Price broke down sharply from 54,400 → 53,800 zone with heavy volume.

Current structure = downtrend with slight pullback attempt near 53,900.

Candlesticks show lower highs, lower lows → trend is still bearish.--

🔎 2. Option Chain Analysis (30 Sep Expiry)

Call side (resistance building):

54,000 CE OI = 6.80L (huge writing, strong resistance)

53,900 CE OI = 3.89L

54,200 CE OI = 8.65L

👉 Clearly 54,000–54,200 zone = strong resistance

Put side (support building):

53,500 PE OI = 4.82L (support)

53,400 PE OI = 3.09L

54,000 PE OI = 9.81L but many liquidations seen → weaker support.

👉 So 53,500 zone = strong support

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🔎 3. OI Change & PCR

PCR = 0.87 (Bearish bias)

Call OI > Put OI → Call writers are aggressive.

OI Change:

Calls adding at 53,900 & 54,000

Puts unwinding at higher strikes → confirms weakness.

👉 Bears are in control until 54,000 is decisively crossed.

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📌 Major Levels

Resistance: 53,900 → 54,000 → 54,200

Support: 53,500 → 53,400

Immediate Range: 53,500 – 54,000

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🎯 Perfect Intraday Trade Setup

✅ Short Trade (High Probability)

Entry: Near 53,900–54,000 (retest of resistance)

SL: 54,100 (just above resistance & CE writing zone)

Target: 53,500 (support level)

Risk-Reward: ~1:2 (100 pts SL for 400 pts target)

⚠️ Alternative Long Trade (Only if 54,100 breaks with volume)

Entry: Above 54,100 (fresh breakout)

SL: 53,950

Target: 54,400 → 54,600

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🔮 My Intraday Bias

As per OI buildup, PCR < 1, price action trend,

👉 Best trade = Short near 53,900–54,000 with SL 54,100, Target 53,500

Thanks