NIFTY analysis for 13 Mar 2019

raghavs1ngh Updated   
NSE:NIFTY   Nifty 50 Index
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.
Comment: CPR did not cross.H3 touched but market now in sideways market, instead of trending.
Comment: 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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