raghavs1ngh

BANKNIFTY analysis for 15 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

There is formation of Inside Value relationship which means there can be a very trending movement if Index opens above H3 or below L3.
CPR width is very narrow->Trending

Both third layer and CPR is above previous day CPR an third layer -> BULLISH

Trading plan:
1.) If Index opens below L3 and sustains for 15 min, index will be trending downwards and will likely touch at L5.
2.) If Index opens above H3 and sustains for 15 min, index will be trending upwards and will likely touch at H5.
3.) If index opens between H3 and L3 , it will trade between H3 and L3.
Comment: Few pivots are drawn sloppy. I am sorry for that. The analysis is still the same. Here are the exact values.

H5 = 29117.23
H4 = 29060.65
H3 = 28992.05
L3 = 28854.85
L4 = 28786.25
L5 = 28729.68

R2 = 29186.95
R1 = 29055.2
CP = 28937.5
S1 = 28805.75
S2 = 28688.05

I will be uploading a corrected graph. Sorry.
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