Two-Day CPR Relationship:
Higher Value CPR Relationship (Ascending CPR ) and Higher Value Camerilla3 (Ascending DC3)
Initial Bias: Bullish/Sideways
CPR Width: Moderately Wider compared with Prev. Day CPR
Bullish Combinations:
Plan A1 (Moderately Bullish ) : If Opening/ 5-Min Candle opens between CPR (15781-15809) and R1(15864), Wait for a pull back to CPR and Take a LONG Entry upon BULLISH Candle Confirmation. Target can be R1 or between 50% of R1 and R2.
Plan A2 (Extreme Bullish): If Opening/ 5-Min Candle ( Bullish) closes above R1 (15864), Take LONG entry upon the break of First 5 min's candle Low. One can place a LONG or BUY STOP LOSS Order if the first 5 min candle closes above R1 and there is a consolidation happening around R1. Railway Track Pattern (RTP) works very well in this case.
Plan A3 (Moderately Bullish): If first 5-Min candle closes below CPR (15781-15809), then Price may take SUPPORT at S1(15755) and continue it's up-ward move. Observe Candlestick formation and take LONG Entry upon BULLISH Candle Confirmation at S1. Target can be 2R (2 times Risk) or CPR or use trailing SL.
Bearish Combinations:
Plan B1 (Moderately Bearish): If first 5-Min candle closes below CPR ((15781-15809) and Break S1 (15755) decisively, then reduce trading capital to 50% and take a SHORT entry based on the BEARISH Candle confirmation at S1. Can apply RTP Technique.
Plan B2 (Extreme Bearish): Candle opens/First 5-Min Candle below S1 (15755) with a GAP-DOWN, Price may take resistance at S1(15755)/ CPR / PDC / PDH and move it's down-ward journey. Take SHORT Entry upon BEARISH Candle Confirmation.
Strategies to be deployed:
- Open Drive ( Bullish)
- Pivot Pressure Trade - PPT ( Bearish / Bullish )
- M Pattern (Bearish)
- W Pattern (Bullish)
Global Cues: Flat to +ve.
SGX Nifty: Indicating a slight gap-up and look to apply Plan A1(i.e. Entry at CPR, SL at below BC, and Target is R1 or 50% of R1&R2)
This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.
Trade active:
A2 in progress
Trade active:
Update: Placed a BUY STOP Order above 1st 10 min candle which isn't triggered yet...
Comment:
No trades active. Market is fluctuating b/w R1 and S1. Hence mostly a side ways market is expected in this range. Will have a definite BEARISH trending move if S1 (and Camarilla L4) is broken down.BULLISH Trending Move if DAy's High 15877 (Camarilla H4 15884) is broken OUT.
Comment:
As expected, NIFTY is being traded in a tight range b/w R1/H3 and L3/S1. Stay away from NIFTY/Bank Nifty until H4 breaks out or S1 breaks down.
Comment:
Though nifty is showing the break out of H4 level, but the Features is taking resistance at H4. It's a good idea to go LONG when H4 in FUTURES also broken out decisively.