Bank Nifty Rallies 1000 point in 2 day based on Neural Analysis

By | May 18, 2019 8:15 am
  • As Discussed in Last Analysis Bulls now need to close above 28944  for a move above 29088/29232/29376. Bears will now get active below 28750 for a move back to 28610/28500/28376. Neural Analysis combined with Price and Time is a lethal combo, We did not break 28500 and now up towards 29959 a move on 1000 points in just 2 trading session and we were able to capture most of it. As we will have exit polls coming out on Sunday so another gap up or gap down opening on cards. Bulls need a close above 29620 for a move towards 29800/30150. Bears will get active below 29100 only for a move back towards 28890/28630.  THE MOST NEGLECTED TRADING DISCIPLINE

  • Bank Nifty May Future Open Interest Volume is at 12.4 lakh with liquidation of 0.50 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29964 closed below it.
  • 30000 CE is having highest OI @2.8 Lakh resistance at 29500 followed 30000.  28000-31000 CE added 1.69 Lakh in OI so bears added in the zone of 29500-30000
  • 29000 PE is having highest OI @5.9 Lakh, strong support at 28800 followed by 28500.29000-31000 PE added 0.22Lakh OI so bulls making strong support in the range of 28800-29000.

Buy above 29512 Tgt 29656,29800 and  29944  (Bank Nifty Spot Levels)

Sell below 29368 Tgt 29224,29100 and 28800 (Bank Nifty Spot Levels)

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