Bank Nifty Rallies 2000 point in 3 day based on Neural Analysis

  • As Discussed in Last Analysis 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. We opened with gap Levels mentioned on twitter worked perfectly and traders who missed the gap should have captured from 30200-30700 levels. Neural Analysis combined with Price and Time is a lethal combo and bulls need to hold the range of 30650-30700 for this uptrend to continue towards 31080/31360/31640. Bears will get active below 30500 for a move back to 30260/29990. Beauty of Gann Analysis can be seen in below chart on Friday we closed above the gann angle and today we saw a big rally of 1300 points.   THE MOST NEGLECTED TRADING DISCIPLINE

  • Bank Nifty May Future Open Interest Volume is at 15.1 lakh with addition of 2.7 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29964 closed above it.
  • 31000 CE is having highest OI @3.1 Lakh resistance at 31000  followed 31500.  28000-31000 CE liquidated 0.90 Lakh in OI so bears covered in the zone of 29500-30500
  • 30000 PE is having highest OI @1.6 Lakh, strong support at 30000 followed by 29500.29000-31000 PE added 1.87 Lakh OI so bulls making strong support in the range of 28800-29000.

Buy above 30830 Tgt 30960,31100 and  31248  (Bank Nifty Spot Levels)

Sell below 30672 Tgt 30528,30284 and 30240 (Bank Nifty Spot Levels)

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