Nifty Bank On 13 June As Per Neural Analysis

  • As Discussed in Last Analysis: As Today was an important time cycle date and we are seeing a range contraction in the index, we are bound to see a good move in Nifty Bank. Bulls will now get active above 31000 for a move back to 31155/31352. Bears will get active below 30900 for a move back to 30735/30560. As per the Neural Analysis video, we saw a perfect bounce in Nifty Bank. Bulls will now get active above 31000 for a move back to 31155/31352. Bears will get active below 30900 for a move back to 30735/30560.

  • Nifty Bank June Future Open Interest Volume is at 17.5 lakh with a liquidation of 2 Lakh, and with an increase in Cost of Carry suggesting long positions were added today. Nifty Bank Rollover cost is @31540 and closed below it.
  • 31500 CE is having a highest OI @2.8 Lakh, resistance at 31500, followed by 31800.  30000-32000 CE added 0.30 Lakh in OI, so bears added in the zone of 31500-31800.
  • 30500 PE is having a highest OI @3 Lakh, strong support at 30800 followed by 30500. 30000-32000 PE added 0.65 Lakh OI, so bulls are creating strong support in the range of 30500-30800.

Buy above 31000 Tgt 31087,31175 and  31263  (Nifty Bank Spot Levels)

Sell below 30900 Tgt 30823,30735 and 30647  (Nifty Bank Spot Levels)