1) Option chain data: On PUT side, highest total OI and writing actually is seen at 26500 which is too far away (CMP-27248). Near ATM, highest OI
(3.91 lakhs) is at 27000 with highest fresh Put writing (1.54 lakhs) too. 2nd highest writing and Oi is then at 26800. On CALL side, highest total OI is at 28000 strike, which is still very far away, with quite low Call writing. Near ATM, highest total OI (3.74 lakhs) is at 27500 but with negligible Call writing (3,420 contracts only)! So bank nifty is clearly showing some strength. On charts too this is visible.
2) Charts: On , BNF finished as very strong green candle with higher high and higher low and hence we can see some good buying areas on 15 min chart. But since the predominant trend is still negatve, I will advise to take trade at lower or 2nd buying area with levels mentioned on chart. I am not able to spot any good selling areas in BNF so shorts will have to be taken as per live market movement.
All the best. Happy trading.
DISCLAIMER: I am short on Banknifty .