► HTF is again is crucial demand zone. DTF has a "Hammer" candle, which infers "Positive" bias". ► Pivot analysis infers Trading Range DAY bias. ► ADR levels are below 0.50 hence, it infers trending day but, CPR width is not encouraging. So, be ready for double distribution day or mild trending day. ► Support levels 15793/15735 ► Resistance levels 15895/15850 ► Support levels has Multiple pivot point zones, which infers good support. Above 15760 we may see some buying. So, keep a watch, unless market gaps up or down. ► I want to highlight one thing, in DTF market is moving sideways which infers STAGE 3 as per Stan Weinstein methodology. Hence, expect some correction in medium term.
1. Any bullish PA above 15800 is stop of 15781 and target of 15830. 2. Any bullish PA above 15768 is quick scalp with stop of 15749 target of 15790. 3. Any bullish PA above 15749 is stop of 15729 and target of 15789. 4. Any bearish PA below 15840 is short with stop of 15860 and target of 15800. 5. Any bearish PA below 15790 is short with stop of 15809 and target of 15764.
This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.
I hope you guys are trading as per plan and benefitting from it. Soon, will give a monthly update on all calls that were traded and what's the accuracy percentage with risk to reward ratio.
If you have traded both, close your laptop and chillax.
Hi Again, In this you have mentioned ADR levels are below 0.50 hence, Which Advance Decline Ratio you're mentioning? Is this NSE or Nifty?
Sacredmonkey
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@enhancedtrader12, Hi there, ADR does not mean advance decline ratio.
ADR in pivot sense is Average daily range in this case i am talking about NIFTY. Its calculated by using last 20 days of daily range and then deriving an average from there. The idea here is to look for ADR contraction and if ADR keeps shrinking to the fact that it is less than 50% of ADR. Then chances of next day being trending day is very high probability.
This is only one of that parameter, there is more to this.