Opening : Between H3 and L3
Position : CPR of this month is above previous month's , indicating a bullish outlook.
Width : CPR is narrower than previous month's, indicating a trending month.
Strong Resistance : R2,H5 and yearly H5 coinciding
Strong Support :
1) CPR, L1, L2, L3 coinciding
2) L4, yearly H4 coinciding
My analysis :
Since the CPR is narrower and above previous month's CPR, expecting NIFTY to reach H3/R1(atleast once) and higher by the end of this month.
L3/S1 already touched and bounced. If S1 is breached and sustained, expect more bearish movement in the index.
Disclaimer : The indicators, strategies, columns, articles and all other features discussed here are for educational purposes only and should not be construed as investment and/or trading advice/tips.
Position : CPR of this month is above previous month's , indicating a bullish outlook.
Width : CPR is narrower than previous month's, indicating a trending month.
Strong Resistance : R2,H5 and yearly H5 coinciding
Strong Support :
1) CPR, L1, L2, L3 coinciding
2) L4, yearly H4 coinciding
My analysis :
Since the CPR is narrower and above previous month's CPR, expecting NIFTY to reach H3/R1(atleast once) and higher by the end of this month.
L3/S1 already touched and bounced. If S1 is breached and sustained, expect more bearish movement in the index.
Disclaimer : The indicators, strategies, columns, articles and all other features discussed here are for educational purposes only and should not be construed as investment and/or trading advice/tips.
Note
Strong support 1 breached, now it will act as resistance. Most likely to oscillate between 11960 and Strong support 2 for few days before making any breakout.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.