Banknifty analysis for 6 aug 2025

 Based on OI data, option chain, and candlestick chart for BANKNIFTY (As on 5th August 2025), here is a detailed analysis:

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🔍 1. Chart Analysis (2h timeframe)


Trend: Clear downtrend with consistent lower highs and lower lows.


Candle Pattern: No strong reversal patterns yet. Last candle shows a long wick (buyers attempted defense), but close is weak — indicating sellers still in control.


Volume: Spikes in red (bearish) candles suggest strong selling pressure.

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📊 2. Open Interest (OI) Analysis


A. PCR (Put/Call Ratio)


Overall PCR = 0.84 (declining)


Intraday PCR = 0.77


Indicates bearish sentiment, as Call writers are dominating.


B. Strike-wise OI Concentration (Monthly Expiry - 28 Aug 2025)


Strike Call OI Put OI Interpretation


55500 7.62L 7.26L Heavy straddle (strong resistance zone)

55400 1.37L 1.28L Light straddle

55300 1.28L 1.59L Support visible

55000 2.56L 9.04L Strongest support

55800 - 55900 2.7L - 1.76L 1.86L - 1.06L Resistance range



Call Unwinding seen from 55600 to 55900 (Call OI down ~25%+), indicating weakening resistance there.


Put Writing is strong at 55000 & 55300, confirming support building.

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📈 3. OI Change Analysis


At 55500, Put OI added +95.44K, while Call OI added only 4.29L → Straddle-like zone but Put writers are more aggressive now.


55200 to 55000 – Stable or increasing Put OI.


Above 55600, Call OI is high + reducing → signs of resistance softening.

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🧠 Key Support & Resistance Levels


Type Level Reason


Major Resistance 55500 – 55600 High Call OI (7.62L), price failing to sustain above

Minor Resistance 55400 Straddle zone, minor rejection

Major Support 55000 Strong Put OI (9L), highest support base

Minor Support 55300 Put OI > Call OI

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🎯 Perfect Intraday Trade Setup


⚠️ Scenario: If price opens near 55350–55400 and fails to cross 55500


Setup: Sell on rise near 55450–55500


Target: 55100–55050


Stop-loss: Above 55580 (just above last visible resistance wick)


Reason: 55500 is strong OI + price rejection zone. PCR bearish, and trend is down.

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✅ Scenario: If price opens near 55000–55100 and holds with bullish candles


Setup: Buy near 55050–55100 on bullish confirmation (hammer, bullish engulfing etc.)


Target: 55400–55500


Stop-loss: Below 54950


Reason: Strongest Put support at 55000 + Put OI added + oversold condition on higher timeframes.

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🧩 Final Verdict


🔻 Bias: Bearish unless 55500 is convincingly crossed and held.


🟢 Intraday Buy only near 55000 with price holding and forming bullish reversal pattern.


❌ Avoid long trades near 55450–55500 unless there's breakout with volume.

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Thanks 

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