Banknifty analysis for 21 aug 2025

let’s analyze the BankNifty OI Data + Chart + Price Action step by step:

🔎 1. Price Action & Candlestick Observation

CMP: 55,698 (down ~166 pts, -0.30%).

Chart shows:

A recent fall from ~56,200 to ~55,600, then a bounce.

Current candles are small-bodied, indicating indecision / consolidation around 55,700.

Last big red candle rejected near 56,200 (upper wick) → showing supply/resistance.

📌 Candlestick Bias: Neutral-to-bearish unless price sustains above 56,000.

---

🔎 2. OI Analysis (Option chain)

Highest Call OI (Resistance levels):

56000 CE → 18.40 L (major resistance)

55700 CE → 4.63 L

55500 CE → 7.57 L

Highest Put OI (Support levels):

55500 PE → 10.22 L (major support)

55600 PE → 3.13 L

55900 PE → 2.19 L (far OTM, less relevant)

OI Change (intraday writing/unwinding):

Calls added at 55600 CE (↑79k) → fresh resistance nearby.

Puts added at 55400 PE (↑7.6k) & 55600 PE (↑21k) → support around 55400–55600.

Heavy unwinding in 55700 CE & 56000 CE → Call writers booking profit after price rejection near 56,200.

📌 Support Zone: 55,400 – 55,600

📌 Resistance Zone: 55,900 – 56,000

---

🔎 3. OI Analytics 

PCR (Put/Call Ratio): ~0.71 → bearish bias (more call writing than put writing).

Multi-strike OI: CE buildup at 55700–56000 is strong.

Put OI at 55500 is holding, but not very aggressive compared to call OI.

---

🎯 4. Trade Setup for Intraday (Minimal SL)

Based on chart + OI:

✅ Bullish Intraday Plan:

Entry: Buy above 56,000 with strong volume & sustain (short covering likely).

Target: 56,150 – 56,200.

Stop-Loss: 55,850 (just below breakout zone).

✅ Bearish Intraday Plan:

Entry: Short (or Buy PUT) if price breaks below 55,600 with volume.

Target: 55,400 → 55,200.

Stop-Loss: 55,750 (above intraday supply).

---

🔑 Key Levels for Today

Support: 55,600 / 55,400.

Resistance: 55,900 / 56,000 / 56,200.

Bias: Slightly bearish until 56,000 is crossed & sustained.

---

📌 Perfect Minimal SL Trade:

If 55,600 breaks → go short with SL 55,750.

If 56,000 sustains → go long with SL 55,850.

Thanks