NIFTY analysis for 18 Mar 2019
Dotted Dark Blue Line - CPR
Dotted Light Blue Line - CPR of Previous Timeframe
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5
CPR has a width of almost 1 pt , meaning tomorrow, more likely than not, it will be a TRENDING day.
The opening 15 min may decide the direction of market, if it opens above or below CPR , as CPR can acts as very strong support or resistance.
Both CPR and third layer of 18 is above previous day's CPR and third layer->BULLISH(likely)
Trading plan:
1.) H3 and L3 layers can be used to go short and long(L3) if market goes sideways.
2.) if market opens below CPR , it may reach S1 once.
3.) If market opens above CPR , it may reach R1 once.
4.) Since R1 and H4 are almost coinciding, if it is breached and sustained, go long and it will likely reach H5 and beyond.
5.) Since S1 and L4 are almost coinciding, if it is breached and sustained, go short and it will likely reach L5 and beyond.
Dotted Light Blue Line - CPR of Previous Timeframe
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5
CPR has a width of almost 1 pt , meaning tomorrow, more likely than not, it will be a TRENDING day.
The opening 15 min may decide the direction of market, if it opens above or below CPR , as CPR can acts as very strong support or resistance.
Both CPR and third layer of 18 is above previous day's CPR and third layer->BULLISH(likely)
Trading plan:
1.) H3 and L3 layers can be used to go short and long(L3) if market goes sideways.
2.) if market opens below CPR , it may reach S1 once.
3.) If market opens above CPR , it may reach R1 once.
4.) Since R1 and H4 are almost coinciding, if it is breached and sustained, go long and it will likely reach H5 and beyond.
5.) Since S1 and L4 are almost coinciding, if it is breached and sustained, go short and it will likely reach L5 and beyond.
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