Dotted Light Blue Line - CPR of Previous Timeframe
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Black Line - R1,R2(Standard Floor )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5
The third layer is BELOW the previous day's -> outlook
Both and third layer are narrower -> Trending
1.) If index opens above H3 and sustains for 15 minutes, upwards movement likely, H5 should be the target or beyond
2.) If index opens below L3 and sustains for 15 minutes, huge sell off. S2/L5 should be the target.
3.) If index opens between H3 and L3 and gets rejected at H3, L3 should be your target as it will touch once.