Banknifty analysis for 7 july 2025

 Based on OI data, option chain, and candlestick chart for BANKNIFTY (Spot: 55,411) with expiry on 28 Aug 2025, here's a detailed analysis and a possible intraday trade plan:

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🔍 1. OI Analysis:


➤ Put-Call Ratio (PCR): 0.78


Indicates bearish to neutral sentiment.


More Call writing than Put writing shows market participants are capping upside.


➤ Total OI:


Call OI: 1.54 Cr


Put OI: 1.2 Cr

Inference: Slightly bearish bias, indicating resistance higher up.-


🧱 2. Major Resistance Levels (Based on Call OI):


Strike Call OI Inference


56000 12.21 L 🔴 Very strong resistance

55500 7.67 L 🔴 Immediate resistance

55400 1.87 L ⚠️ Minor resistance



🔎 Call writers active near 55500–56000. Price nearing these levels will likely face selling pressure.

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🧱 3. Major Support Levels (Based on Put OI):


Strike Put OI Inference


55000 9.42 L 🟢 Strong support

55500 7.91 L 🟢 Key support (also ATM)

55400 1.93 L ⚠️ Minor support



📌 Put writers defending 55000 strongly, suggesting it’s the lower support base.

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📊 4. OI Change Insights (Intraday Fresh Positions):


55500 Put: +89.81K addition (🟢 Strong fresh support)


55500 Call: +23.07K addition (🔴 Light resistance)


Overall: Slight bullish undertone intraday despite broader bearish PCR.

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📉 5. Candlestick Chart Analysis (2H timeframe):


Trend: Downtrend with a short-term bounce visible.


Price: Currently around 55,422, showing a reversal from intraday low ~55,050.


Candle Pattern: Bullish wick at the bottom (potential reversal signal).


Volume: Surge in volume at lower levels = buyer interest.

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✅ 6. Perfect Intraday Trade Setup:


📌 Trade Idea (Buy Side Reversal Setup):


Entry: Around 55400–55420 (retest of support)


Stop-Loss: Below 55300


Target 1: 55550 (minor resistance)


Target 2: 55700 (next resistance, if strong momentum)


Risk/Reward: ~1:2 or better



> 📈 If price sustains above 55500 with strong volumes, breakout towards 55700–56000 possible.

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🔻 Alternative Trade (If Rejection at 55550):


Entry (Put Side): Near 55550–55600


SL: Above 55650


Target: 55350 / 55200


Rationale: Bearish rejection from resistance + Call OI buildup-


🔁 Quick Summary:


Parameter Level / Insight


PCR 0.78 (Bearish-Neutral)

Support 55000 (Strong), 55400 (Intraday)

Resistance 55500 (Immediate), 56000 (Major)

Trade Bias Buy on dip near 55400 with SL below 55300.


Thanks 

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