raghavs1ngh

BANKNIFTY Weekly Analysis for 22 Mar - 28 Mar

Education
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

Both Third layers and CPR are above previous week's -> BULLISH (likely)
Both of them are narrower than previous week's -> TRENDING (likely)

Trading plan:
1.) If week opens up above CPR , buy the dips as it may reach H3 once.
2.) If weeks opens below CPR , strong selloff. Go short.

Comments

holding 29700 ce...let's see how this week works out... hoping it will touch H3 by the end of the week..as long as L3 is not breached on monday
Reply
raghavs1ngh raghavs1ngh
@raghavs1ngh, markets looks bearish...would exit 29700 ce position as soon as possible
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