Banknifty Option Analysis
🔎 1️⃣ Overall Open Interest Analysis Total Call OI: 5,78,365 Total Put OI: 5,62,719 PCR (OI based): 0.97 📌 Interpretation of PCR = 0.97 PCR near 1 → Market is balanced / neutral Slightly below 1 → Mildly bearish bias Not extreme → No panic or aggressive directional positioning yet 👉 Current positioning suggests range-bound to slightly cautious sentiment . 🎯 2️⃣ Max Pain Strike ✅ Max Pain = 61,000 This is the strike where: Maximum option buyers lose money Writers (smart money) benefit most 📌 Meaning: Market may try to gravitate towards 61,000 near expiry , unless strong momentum emerges. 🧱 3️⃣ Strong Support & Resistance (OI Based) 🔴 Highest Call OI (Major Resistance) 61,000 CE → Highest Call OI → Strong overhead resistance 🟢 Highest Put OI (Major Support) 60,000 PE → Highest Put OI → Strong downside support 📊 4️⃣ Market Structure Summary Level Interpretation 60,000 Strong Support 61,000 Strong Resistance 61,000 Max Pain Level This suggests: ➡ Likely range: 60,0...