BANKNIFTY Monday Plan — Option Chain + SMC AnalysisNifty Bank IndexNSE_DLY:BANKNIFTYAryan_yadav2612 BANKNIFTY is currently trading around a very important decision zone near 58,000. As per the option-chain data, the structure is not giving a clean bullish signal yet. Option Chain View PCR is around 0.85, which indicates a neutral to slightly bearish / range-bound market mood. Fresh Call Writing is visible at: 59,000 CE — strong resistance building 58,000 CE — sellers defending the 58,000 zone 58,200 CE — additional intraday resistance pressure Fresh Put Writing is visible at: 59,000 PE — aggressive bullish attempt, but not confirmed support because price is still below 59,000 58,000 PE — support present, but not very aggressive 56,000 PE — lower support addition The important point is that 58,000 is not clean support or clean resistance. It is a battle zone / pinning zone where both call writers and put writers are active. So I will not take an aggressive long exactly at 58,000. SMC Context Daily candle has closed below 58,000, which makes the level important for Monday. On the 4H timeframe, there is a Bullish OB FVG around 57,750–57,800, which is still untapped. If price comes into this zone, gives a strong bullish rejection, and then reclaims 58,000–58,100 with bullish displacement and MSS, then I can plan for a long setup. But as of now, I do not want to assume bullishness because 58,000–58,200 has fresh call writing, and sellers are still defending that zone. Bullish Scenario Bullish setup is valid only if: Price taps or respects the 57,750–57,800 4H Bullish OB FVG Strong bullish rejection appears LTF bullish MSS / CHOCH forms Price reclaims and sustains above 58,000–58,100 Option chain confirms: 58,000 CE unwinding 58,000 PE writing increasing 59,000 CE unwinding or no aggressive fresh call writing Upside targets: 58,500 → 59,000 → 60,000 But 60,000 remains a major resistance because it has the highest Call OI. Bearish Scenario Bearish setup is cleaner if price moves toward 58,000–58,200 and fails to sustain. Short setup is valid if: Price rejects from 58,000–58,200 Bearish displacement appears LTF bearish MSS confirms Call writing continues at 58,000 / 58,200 / 59,000 58,000 PE starts unwinding Downside targets: 57,780 → 57,500 → 57,000 → 56,000 The level 57,500 is important because it aligns with the Weekly Bullish OB FVG / demand zone. So if price reaches 57,500, I will not blindly hold shorts. I will watch for reaction there. Final Bias Below 58,000: Neutral to slightly bearish Between 58,000–58,100: Pinning / trap zone Above 58,100 sustained: Neutral to bullish Above 59,000: Short covering possible toward 60,000 Below 57,500: Bearish continuation likely My Preferred Monday Plan Primary plan: Wait for rejection from 58,000–58,200 and look for short confirmation toward 57,780 / 57,500. Secondary plan: Wait for reaction from 57,750–57,800, then only consider long if price strongly reclaims 58,000–58,100 with option-chain confirmation. No aggressive long at 58,000. Confirmation is more important than prediction.