Banknifty analysis for 4 Aug 2025

 Here's the detailed OI + chart analysis for BANKNIFTY (spot: 55617) using data and chart:

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🔍 KEY OBSERVATIONS


📉 Chart Analysis (2-Hour Timeframe):


Clear downtrend from 58400 to 55600 with consistent lower highs and lower lows.


Latest candle has closed near 55636, just above the day's low of 55570.


Strong support around 55040 (as seen from price bounce & volume spike).

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🧠 Open Interest Analysis (28 Aug 2025 Expiry)


🔺 Call Side (Resistance Zones):


Strike Call OI OI Change Remarks


56000 9.06L +3.71L Strongest Resistance (Highest OI + Heavy Addition)

55900 1.39L - Mild resistance

55700 93.2K - Light resistance



🔻 Put Side (Support Zones):


Strike Put OI OI Change Remarks


55000 13.82L (from chart) - Strongest Support

55500 5.10L +78.9K Immediate support

55400 57.7K - Minor support

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⚖️ PCR (Put/Call Ratio):


Overall PCR = 0.86 (mildly bearish bias).


Falling from 1.19 → 0.86 in the last 5 sessions = Bearish sentiment building.

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📊 Change in OI


Call addition > Put addition, especially at 56000 CE, indicating strong selling pressure/resistance above current market price.

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🎯 Key Levels


📌 Resistance Zones:


56000 → Major resistance (OI: 9.06L)


55900 → Intraday rejection possible


📌 Support Zones:


55500 → First intraday support (5.10L Put OI)


55000 → Strong positional support

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✅ Best Intraday Trade Plan (with Minimal SL)


🔽 Trade Setup: Sell on Rise (Bearish Bias)


Entry: Near 55900–56000 (if price pulls back)


SL: Above 56070 (Above resistance & OI base)


Target 1: 55500


Target 2: 55050



> Reason: Price is in a downtrend. OI shows resistance at 56000. PCR is dropping. Best risk-reward lies in shorting near resistance.

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🛑 Alternative: If Opens Gap Down Near 55400-55000


Avoid fresh shorts near strong support.


Wait for breakdown below 55000 with volume for next short.

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Thanks 

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