Banknifty analysis

 let’s break this down step by step using the OI data, OI change, and candlestick chart. 1. Price Action & Candlestick Chart  CMP = 53,661 (-0.63%) Trend: Clearly downtrend with lower highs and lower lows. Recent candle: Selling pressure continued after a small pullback → weakness is intact. Support seen near 53,550 – 53,600 zone (recent low). If that breaks, next support = 52,500 (previous swing low visible on chart). Resistance near 54,000 – 54,200 (recent rejection zone + OI data confirms).-- 2. OI Data (Option Chain + Analytics) Call OI (Resistance) 54,000 CE: 12L OI (huge addition of 41K) → Strong resistance. 53,700 CE & 53,800 CE also have 1.3–1.8L OI → resistance zone just above CMP. Put OI (Support) 53,500 PE: 5.7L OI (20K addition) → immediate support. 53,600 PE: 1.1L OI (42K addition) → added support. Below that, next support around 53,000–52,500. PCR (Put Call Ratio) Overall PCR ≈ 0.84 → indicates bearish bias (more call writing than put writing).-- 3. OI Ch...

Based on candlestick chart + option chain + OI analytics. Let’s combine them step by step: 1. Candlestick Price Action  BankNifty fell sharply from ~55,800 to ~53,800 levels. Now it’s trying to bounce back, with a small base forming around 53,800 – 54,000. Current price: 54,002 (slightly above intraday low). Trend is still weak (series of red candles), but a pullback is visible. --- 2. Option Chain  54000 CE OI: 9.08L (heavy call writing → resistance). 54100 CE OI: 11.5L (resistance). 54200 CE OI: 18.3L (strong resistance). On Put side: 54000 PE OI: 12.6L (strong support). 53900 PE OI: 14.9L (support). 53800 PE OI: 19.3L (very strong support). 👉 Interpretation: Strong support zone: 53,800 – 54,000. Resistance zone: 54,100 – 54,200. --- 3. OI Change (Chart 3 & 4) Significant Put writing at 53800 & 54000 → bulls defending these levels. Calls built up at 54100 & 54200 → upside capped. PCR ~0.89 → slightly bearish to neutral bias. --- 4. Levels Summary Support (buyers...