Nifty Bank IndexEducation
BANKNIFTY analysis for 18 Mar 2019
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
CPR and third layer above previous day's CPR -> BULLISH(likely)
CPR and L3 very near-> Very strong support/resistance.
CPR width is narrow -> TRENDING (likely)
Trading plan:
1.) If H3 is not breached, it may reach L3 or CPR.
2.) If market opens above CPR, it may touch H3 or R1 once.
3.) If market opens below CPR, huge sell off, may touch S1 or L5 once.
4.) If market breaches H4/L4 and is sustained, it may reach H5/L5 once.
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
CPR and third layer above previous day's CPR -> BULLISH(likely)
CPR and L3 very near-> Very strong support/resistance.
CPR width is narrow -> TRENDING (likely)
Trading plan:
1.) If H3 is not breached, it may reach L3 or CPR.
2.) If market opens above CPR, it may touch H3 or R1 once.
3.) If market opens below CPR, huge sell off, may touch S1 or L5 once.
4.) If market breaches H4/L4 and is sustained, it may reach H5/L5 once.
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