Banknifty analysis 23 sept 2025

let’s break this down step by step from oi and data

1. Price & Candlestick Chart (BankNifty at 55,561 – 55,577 levels)

Current price is consolidating around 55,500 – 55,600.

Last few candles (15m chart) show rejection from 55,600 zone but also strong buying from 55,400 – 55,450 levels (long lower wicks, high volumes).

Trend = sideways with slight bullish bias.--

2. Open Interest Data (Expiry 30 Sep 2025)

From OI & PCR data:

PCR = 1.05 → Slightly bullish bias (more Puts than Calls).

Put OI Addition (Support zones):

55,400 PE & 55,500 PE have strong additions → strong immediate support.

55,300 PE also has decent addition → next support zone.

Call OI Addition (Resistance zones):

55,600 CE has fresh addition → immediate resistance.

56,000 CE is the biggest resistance (huge OI built-up).

So:

Support = 55,400 → 55,300

Resistance = 55,600 → 56,000

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3. Interpretation with VIX

India VIX = 10.46 → very low volatility.

This means premiums decay fast, and breakout moves may not sustain strongly unless backed by volume. Best to play range-bound trades with tight SL.--

4. Perfect Intraday Trade Setup

📌 Bullish Trade:

Entry: If BankNifty sustains above 55,600 (with 15m candle close).

Target: 55,750 → 55,850.

Stop-loss: 55,520 (just below breakout candle low).

📌 Bearish Trade:

Entry: If BankNifty breaks below 55,400 (with volume).

Target: 55,250 → 55,100.

Stop-loss: 55,480.

⚡ Since PCR is slightly bullish and Put writers are active at 55,400–55,500, long trade above 55,600 looks safer unless price rejects strongly.--

✅ Summary:

Support: 55,400 / 55,300

Resistance: 55,600 / 56,000

Best Intraday Trade: Buy above 55,600 for 150–200 points with tight SL (55,520).

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Thanks

Banknifty analysis