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BANKNIFTY Monthly Analysis for May 2019

NSE:BANKNIFTY   NIFTY BANK
Narrow CPR -> Trending market likely

Opened between H3 and L3. Likely to oscillate between and H3 and BC (the bottom most dotted blue line)
Go short at H3
May also touch L3.

Previous month was a consolidating market. Now, hope to see some action soon.

If H3 is broken and sustained, use it to go LONG.

In this month, Lok Sabha election's result will be announced soon, so expect some wild moves till 23rd May.

If you check my Yearly analysis, you'll find that BANKNIFTY is near H4, the last leg of resistance before it likely shoots up.

Disclaimer: The indicators, strategies, columns, articles and all other features discussed here are for educational purposes only and should not be construed as investment and/or trading advice/tips.
Comment: If S1 is not breached, go LONG

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