NIFTY analysis for 13 Mar 2019
Updated
Dotted Blue Line - CPR
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
CPR of 13 Mar is way above of CPR of 12 Mar. Looks BULLISH
CPR is narrow, means it's going to be a trending day.
You can see that L3 and bottom of CPR being very close, meaning it will be very hard to break.
You can use R2-S1(upside) or S2-R1(downside).
Trading plan:
1.)If CPR is not crossed, look for upside. H3 needs to be crossed and will be more likely to touch H4 and beyond.
2.)If CPR is crossed, there would be a huge selling pressure and L5 should be the target.
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
CPR of 13 Mar is way above of CPR of 12 Mar. Looks BULLISH
CPR is narrow, means it's going to be a trending day.
You can see that L3 and bottom of CPR being very close, meaning it will be very hard to break.
You can use R2-S1(upside) or S2-R1(downside).
Trading plan:
1.)If CPR is not crossed, look for upside. H3 needs to be crossed and will be more likely to touch H4 and beyond.
2.)If CPR is crossed, there would be a huge selling pressure and L5 should be the target.
Note
CPR did not cross.H3 touched but market now in sideways market, instead of trending.Note
would not recommend trading now, as it will be more likely that sideways market will continue and later erratic swings after 2.30 or something. No clear position can be taken.
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