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BANKNIFTY analysis for 22 Mar 2019

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NSE:BANKNIFTY   NIFTY BANK
Dotted Dark Blue Line - CPR
Dotted Light Blue Line - CPR of Previous Timeframe
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Black Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5

Moderately bullish , pivots are wide-> sideways likely

Trading plan:
1.) If index opens between H3 and L3 and is rejected at both end, it will oscillate between H3 and CPR . Buy below CPR (keep position size low)
2.) If index breaches H4/L4, H5/L5 likely will be touched.

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