Nifty Analysis 28-Jul-2021

Two-Day CPR Relationship:

Lower Value CPR Relationship (Descending CPR ) and Lower Value Camerilla3 (Descending DC3)

Candle Close: Below Both Prior Day's CPR (27th) and Current Day's CPR (28th)
CPR Width: WIDER

Initial Bias: Bearish/Sideways(due to CPR Width)

Plan A1 (Moderately Bearish ) : If Opening/ 5-Min Candle opens between CPR (15761-15791) and S1 (15671), Wait for a pull back to CPR and Take a short Entry upon Bearish Candle Confirmations. Target can be S1 or between 50% of S1 and S2.

Plan A2 (Extreme Bearish ): If Opening/ 5-Min Candle ( Bearish ) closes below S1 (15671), Take Short entry upon the break of First 5 min's candle Low. One can place a SHORT STOP LOSS Order if the first 5 min candle closes below S1 and there is a consolidation happening around S1. Railway Track Pattern (RTP) works very well in this case.

Plan A3 (Moderately Bearish ): If first 5-Min candle closes above CPR (15761-15791), then Price may take Resistance at R1(15852) and continue it's down-ward move. Observe Candlestick formation and take SHORT Entry upon Bearish Candle Confirmation at R1. Target can be 2R (2 times Risk) or CPR or use trailing SL.

Plan B1 (Moderately Bullish ): If first 5-Min candle closes above CPR and Break R1 (15796) decisively, then reduce trading capital to 50% and take a LONG entry based on the Candle confirmation at R1. Can apply RTP Technique.

Plan B2 (Extreme Bullish ): Candle opens/First 5-Min Candle above R1 (15852) with a GAP-UP , Price may take support at R1(15852)/PDH and move it's upward journey. Take LONG Entry upon Bullish Candle Confirmation.

Strategies to be deployed:
- Open Drive ( Bearish )
- Open Drive Reject (Bearish-SL Hunt Pattern)
- Pivot Pressure Trade - PPT ( Bearish / Bullish )
- GAP-UP Rejection Pattern (Gap filling strategy)
- GAP-DOWN Rejection Pattern (Stop Loss Hunt Pattern)
- M and W Patterns
- Sideways move between H3 (15795) and L3 (15697)

Note:

- Always take entries only after 09:30 AM EST
- Buy at support in an uptrend (i.e. Buy at CPR or S1)
- Sell at Resistance in a downtrend (i.e. Sell at CPR or R1)
- Take entries only near the Support (for Buy) or resistance (for Sell)


This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.