NIFTY analysis for 20 Mar 2019

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.

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.