Position : Both CPR and H3/L3 of this month are above previous month, indicating a outlook for the month.
Width : CPR width is almost same as previous month, giving us no clue whether it is going to be trending or range bound this month.
Resistance : H3/R1 form a strong resistance band.
Support : CPR ,L3 and Yearly R1 coinciding, forming a strong support band. Also,band is coinciding with 20 line of .
Note : Added to know maximum deviation during the month.
My analysis :
As seen in first few days, BANKNIFTY is mostly going to be range bound between H3 and L3.
Since CPR position indicates outlook, I expect BANKNIFTY to touch 32500 (H3) once.
If 31000 is breached downwards and sustained, it'll lead to more movement in the index.
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