Banknifty analysis for 24 oct 2025

Let’s break it down step by step for BankNifty 28 Oct 2025 expiry analysis 👇--


🔹 1. Price Summary


Spot: 58078.05 (+0.12%)

Current Range (based on chart):


Resistance zone: 58550–58600


Support zone: 57800–57600


The price has slightly pulled back after a rally — candles show rejection near 58577, indicating near-term resistance.

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🔹 2. Option Chain (OI) Analysis


Strike CALL OI Change in CALL OI PUT OI Change in PUT OI Interpretation


57600 0.79L -0.65L 3.25L +1.51L Strong PUT writing – Support

57800 3.18L +0.62L 2.69L +1.05L Mixed, slightly bullish bias

58000 13.27L -3.53L 10.70L +1.31L Call unwinding & Put writing – Strong support shift

58100 2.59L -1.99L 2.49L +0.50L Neutral to slightly bullish

58200 4.70L -1.19L 2.28L +0.28L Weak call side, neutral

58500 13.11L +4.24L 5.56L +4.44L Both sides active – resistance zone

58600 4.50L +2.75L 0.53L +0.43L Fresh Call writing, resistance building

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🔹 3. OI Change Summary (from OI Analytics)


Call OI: decreased by 3.53L → indicates call unwinding / short covering


Put OI: increased by 1.31L → indicates fresh put writing

✅ This supports a short-term bullish to neutral bias.

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🔹 4. Chart Structure


Price is consolidating just below 58,000–58,100, after touching 58,577 (resistance).


Volume dropped during the retracement → possible bullish pause, not heavy selling.


Next support zone visible at 57,800–57,600 (previous breakout + OI confirmation).


RSI likely in 55–60 range on 2h chart → neutral-to-positive momentum.-


🔹 5. Support and Resistance (Based on OI + Chart)


Level Type Strength


57600–57800 Strong Support Heavy Put OI + Price Base

58000 Intermediate Support Put Writing + Call Unwinding

58500–58600 Major Resistance Strong Call OI + Chart Rejection

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🔹 6. Intraday Trade Plan (Minimal Stop-Loss Setup)


✅ Bullish Setup:


Entry: Above 58120–58150 (breakout of intraday range)


Target: 58300 → 58500


Stop-loss: Below 58000


Reason: Call unwinding & Put writing indicate strong buyers below 58000.


🔻 Bearish Setup (if resistance holds):


Entry: Below 57800


Target: 57600 → 57450


Stop-loss: Above 57950


Reason: If 57800 breaks, long positions will unwind quickly toward next support.

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🔹 7. Sentiment Percentage (Based on OI + Social Media Trends)


Sentiment % Reason


Bullish 55% Put writing at 58000–57600, call unwinding

Bearish 30% Call buildup around 58500–58600

Flat / Range-bound 15% Expiry nearing, mixed intraday cues

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🔹 8. Summary


View Detail


Trend Bias Mildly Bullish → Range-bound

Support 57800 / 57600

Resistance 58500 / 58600

Trade Zone Buy above 58120 / Sell below 57800

Stop-Loss (Tight) 100–120 pts

Target 200–300 pts intraday

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📊 Final View:

➡️ As per OI + chart, BankNifty is bullish to range-bound.

➡️ Ideal intraday trade is Buy near 58000 with SL below 57800, target 58300–58500.

➡️ Avoid aggressive shorting until 57800 decisively breaks.

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Thanks 

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