Banknifty analysis for 8 aug 2025

 Based on chart and data, here's a complete intraday analysis of BankNifty (spot at 55,521.15, expiry 28 Aug 2025):

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📊 1. Key OI Data Summary:


➤ Total Open Interest:


Call OI: 1.54 Cr


Put OI: 1.19 Cr


PCR (Put/Call Ratio): 0.77 → Bearish Bias (More calls written than puts)


➤ Highest OI (Resistance Zone):


56000 CE → 12.59L Call OI (Strong resistance)


➤ Highest OI (Support Zone):


55000 PE → 7.96L Put OI (Strong support)

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🔍 2. OI Change Analysis:


➤ Call Writing (Resistance getting stronger):


56000 CE: +45,640 OI added


55900 CE: +22,055 OI added


➤ Put Unwinding (Support getting weaker):


56000 PE: -59,115 (heavy unwinding)


55500 PE: -30,310 (moderate unwinding)


55400–55200 PE: Also seeing negative change



📌 Inference: Calls are being written at upper levels, while puts are being unwound — indicating limited upside and a bearish/neutral outlook.--


📈 3. Multi Strike OI + Price Movement (Intraday Sentiment):


➤ 55600 CE OI vs Spot Price:


As BankNifty moved up, 55600 CE OI decreased, suggesting short covering.


Spot price (BankNifty) also bounced from around 54953.16 to 55591.35, with a bullish candle on good volume.


📌 Indicates a bounce from support, but limited upside due to heavy CE OI at 56000.


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🕯️ 4. Candlestick & Chart Observation:


On 2H chart, price formed a bullish engulfing candle around 54950, which is now a strong intraday support.


Immediate resistance is seen near 55600–55800 zone (supply zone + CE buildup).


Volume spike confirms buyers stepped in near lows.

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📍 5. Key Intraday Levels:


🔻 Support Levels:


54950–55000: Strongest intraday support (price + PE OI support)


55300: Minor support (OI addition + price consolidation)



🔺 Resistance Levels:


55600–55800: Resistance zone (CE buildup + recent price rejection)


56000: Major resistance (Max CE OI + Call Writing)


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✅ 6. Best Intraday Trade Setup (with minimal SL):


🔽 If Price Reaches Near 55600–55700 (Resistance Zone):


Trade: Short (Buy PE or Sell Futures)


Target: 55200–55050


SL: 55850 (1:2 risk-reward)


🔼 If Price Dips to 55000–55100 (Support Zone):


Trade: Long (Buy CE or Buy Futures)


Target: 55550–55600


SL: 54850


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📌 Final Intraday View:


Market sentiment is bearish-to-neutral with limited upside.


Sell on rise near resistance is preferred until 56000 is cleanly breached with volume and short covering.


Be nimble around 55000–55600 zone – it’s the current trading range.


Thanks 


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