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BANKNIFTY analysis for 18 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

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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