Banknifty analysis for 20 aug 2025

Based on OI data and chart. Let’s break this down step by step:--

1. Chart Analysis (Price Action)

CMP = 55,865

Recent low = 55,724, recent high = 55,939

Last few candles show rejection near 55,900 – 56,000 (selling pressure at higher levels).

There is buying interest visible around 55,600 – 55,700 zone (multiple rejections, bullish wicks).

Current candle structure = sideways consolidation after a recovery from day’s low. No strong bullish/bearish candlestick pattern visible yet, more of a range-bound price action.

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2. Option Chain (OI Data)

Call OI (Resistance side)

56000 CE → 16.26 L (highest OI, strong resistance)

55900 CE → 3.38 L

55800 CE → 4.24 L

Put OI (Support side)

55700 PE → 4.63 L (highest put support near CMP)

55600 PE → 2.94 L

55400 PE → 2.59 L

➡ Interpretation:

Major resistance = 56,000 (huge CE writing).

Immediate support = 55,700 – 55,600 zone (PE writing).

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3. OI Change (Intraday Sentiment)

Call OI Change: -24.6K (unwinding → bullish sign)

Put OI Change: +2.64 L (fresh put writing → bullish sign)

➡ Indicates bullish bias as put writers are active and call writers are exiting.

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4. PCR (Put/Call Ratio)

PCR = 0.72 – 0.78 (low → indicates market is slightly oversold & can bounce).

Bias: mild bullish.

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5. Support & Resistance Levels

Support: 55,700 → 55,600

Resistance: 55,900 → 56,000

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6. Perfect Intraday Trade Setup (Minimal SL)

If BNF sustains above 55,900 with volume, then buy Calls (CE).

Target: 56,000 – 56,100

Stop-loss: Below 55,750 (around 150 pts).

If BNF breaks below 55,700 with volume, then buy Puts (PE).

Target: 55,500

Stop-loss: Above 55,850 (around 150 pts).

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✅ Bias for now: Slightly bullish since OI shows strong PE writing at 55700 & call unwinding. But upside looks capped at 56,000.

So, safest intraday plan = Buy on dip near 55,700 – 55,750 with SL below 55,600.

Thanks