NIFTY analysis for 22 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
Black Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5

The third layer is BELOW the previous day's -> Bearish outlook
Both pivots and third layer are narrower -> Trending

Trading plan:
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.

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.