raghavs1ngh

NIFTY analysis for 20 Mar 2019

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NSE:NIFTY   Nifty 50 Index
Dotted Dark Blue Line - CPR
Dotted Light Blue Line - CPR of Previous Timeframe
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5

Pivot width is inconclusive in telling whether tomorrow will be a trending or sideways market.
But, since NIFTY mimics BANKNIFTY a lot, tomorrow, in my opinion, will likely be a trending day.

Pivots were above the previous day's -> BULLISH

Trading plan:
1.) If index opens between H3 and L3 and is rejected at both end, it will oscillate between these two layers.
2.) If index breaches H4/L4, H5/L5 likely will be touched.
3.) If index opens below CPR and sustains for 15 minutes, strong selloff, L5 should be target.

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