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BANKNIFTY analysis for 19 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
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5

Both CPR and third layer above than previous day's-> MODERATELY BULLISH
CPR is more narrower than previous day -> TRENDING day (likely)

Trading plan:
1.) If index opens above CPR and H3 is not crossed, it will touch CPR once and may oscillate between them.
2.) If index opens above CPR , it may touch R1 and H3 once.
3.) If index opens below CPR , strong selloff, L5 should be target.
4.) If index breaches H4/L4, H5/L5 likely will be touched.

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