Banknifty analysis for 26 sept 2025

Hey traders, welcome back to VlogSpot! Today, we’re diving into the Bank Nifty action with the spot at 54,976.20, down 0.26% or 145.30 points. Let’s break down the OI data, candlestick patterns, key levels, and an intraday trade plan—. Let’s get started!

Option Chain & OI Insights

The Put-Call Ratio (PCR) is at 0.78, below 1.0, hinting at a bearish tilt—more call writing than put writing, suggesting traders are bracing for a dip or hedging downside. Total OI shows calls at 2.38 Cr and puts at 1.85 Cr, with key strikes standing out:

Calls: Heavy buildup at 55,000 CE (1.86L OI) and 55,100 CE (1.16L OI), acting as resistance zones where call sellers are active.

Puts: Strong support at 54,500 PE (11.65L OI) and 54,600 PE (2.58L OI), with put writers defending these levels.

OI Changes: Calls are unwinding (e.g., -33.2% at 55,200 CE), while puts see fresh writing (e.g., +7.64L at 54,900 PE)—a net bearish shift.

Max Pain looks around 55,000, where option sellers might push the expiry close. The multi-strike OI chart shows calls fading intraday, while puts stabilize—sellers are in control.

Candlestick Chart Patterns

On the 1-hour chart, Bank Nifty’s in an ascending channel (bullish long-term), but today’s action is corrective. We saw a bearish engulfing candle on Sep 24, followed by a doji today around 54,950–55,000—indicating indecision. Volume’s spiked at lows (54,800–54,900), showing buying support, but RSI at 45 and a negative MACD crossover suggest short-term bearish pressure. The broader uptrend holds above the 200DMA (~54,500), but lower highs/lows from 55,666 to 54,976 signal caution.

Major Support and Resistance Levels

Resistance:

Immediate: 55,000–55,100 (high call OI + chart resistance; break targets 55,200).

Strong: 55,450–55,600 (prior highs + channel top).

Support:

Immediate: 54,800–54,900 (high put OI + volume POC).

Strong: 54,500–54,600 (max put support + 200DMA).

Intraday Trade Plan with Minimal Stop-Loss

For low-risk trades (SL 50–100 points, ~0.1–0.2% risk), here’s the plan with a mildly bearish bias:

Long Setup (Dip Buy): Enter at 54,900 (put support + volume low). Targets: 55,000 (T1), 55,100 (T2). SL: 54,850. Risk-Reward: 1:1.5. Trigger: Green candle above 54,920.

Short Setup (Breakdown): Enter below 55,000 breakdown. Targets: 54,900 (T1), 54,800 (T2). SL: 55,050. Risk-Reward: 1:1.5. Trigger: Red candle below 54,980.

Tip: Avoid the 54,950–54,999 chop zone. Keep position size at 0.5% capital.

Social Media Sentiment

Checking X posts from Sep 24–25, sentiment’s at 65% Bearish (FII selling, PCR weakness), 15% Bullish (uptrend above 54,900), and 20% Flat (consolidation calls). It’s at -1 SD—oversold edge—but traders are cautious with volatility, eyeing dips as buys in the broader uptrend.

Disclaimer: This is not financial advice—trade at your own risk!