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NIFTY SPOT- Blue Print for 16 -Jun-2021
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Market Structure/Trend Analysis/Chart Pattern.
l Chart Pattern - Higher High structure
l DTF Pivot Trend - Higher High Structure
l WTF Pivot Trend - Higher High Structure
l MTF Pivot trend - Higher High Structure
l DTF Price Action - Doji
Daily Pivots Analysis.
l Weekly Pivot - Higher value Relationship - Trending day
l Daily Pivot - Higher value Relationship - Trending day
l Pivot Width Analysis - Trending day - 0.13
l Average Daily range - Trending day - 59.20
l GPZ - Weekly GPZ
Key levels.
l PDH/PDL - Done.
l PD Turning Points - None
l PD Supply and Demand Zone (1HR TF) - Done
l Swing High/Low - Done
l Gaps - Done
l Virgin CPR - Done
Summary
l HTF trend is still bullish but, there is a DOJI again which means, will need confirmation on Wednesday for direction. So, wait and watch before taking trade.
l Pivot analysis infers bearish bias and will be a very high probable trending day. If nifty sees resistance at CPR then, there will be very high chances of market breaking trend and again forming lower high structure. Watch out for 15800/15770 levels for support and 15900 for key resistance zone.
VERDICT
WAIT & Watch to infer direction. Market will SUPER TREND . I am BEARISH currently but, market open above CPR my view will be bullish and will be buy at dips market. direction can be confirmed from opening print. I want to highlight fear is extremely high in market and any bad news can shake confidence and market can fall.
My suggestion take trades at confluence or HTF support and resistance zones. Keep ur position size small.
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Step 1 - Strategies to be deployed -
l Open drive
l PPT.
l CPRRVL
Step 2 - Trading Plan
1. Any bullish PA at 15810 levels is a long with stop of 15791 and target of 15850.
2. Any bullish PA at 15875 is long with stop of 15856 and target of 15930.
3. Aggressive longs above 15900 only with stop of 15890 and target of 15950.
4. Any bearish PA below 15870 is a short with stop of 15890 and target of 15830
5. Aggressive shorts below 15812 with stop of 15838 and target of 15776 .
This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.
Have a nice day!!
@SacredMonkey
NIFTY SPOT- Blue Print for 16 -Jun-2021
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Market Structure/Trend Analysis/Chart Pattern.
l Chart Pattern - Higher High structure
l DTF Pivot Trend - Higher High Structure
l WTF Pivot Trend - Higher High Structure
l MTF Pivot trend - Higher High Structure
l DTF Price Action - Doji
Daily Pivots Analysis.
l Weekly Pivot - Higher value Relationship - Trending day
l Daily Pivot - Higher value Relationship - Trending day
l Pivot Width Analysis - Trending day - 0.13
l Average Daily range - Trending day - 59.20
l GPZ - Weekly GPZ
Key levels.
l PDH/PDL - Done.
l PD Turning Points - None
l PD Supply and Demand Zone (1HR TF) - Done
l Swing High/Low - Done
l Gaps - Done
l Virgin CPR - Done
Summary
l HTF trend is still bullish but, there is a DOJI again which means, will need confirmation on Wednesday for direction. So, wait and watch before taking trade.
l Pivot analysis infers bearish bias and will be a very high probable trending day. If nifty sees resistance at CPR then, there will be very high chances of market breaking trend and again forming lower high structure. Watch out for 15800/15770 levels for support and 15900 for key resistance zone.
VERDICT
WAIT & Watch to infer direction. Market will SUPER TREND . I am BEARISH currently but, market open above CPR my view will be bullish and will be buy at dips market. direction can be confirmed from opening print. I want to highlight fear is extremely high in market and any bad news can shake confidence and market can fall.
My suggestion take trades at confluence or HTF support and resistance zones. Keep ur position size small.
**********************************************************************************
Step 1 - Strategies to be deployed -
l Open drive
l PPT.
l CPRRVL
Step 2 - Trading Plan
1. Any bullish PA at 15810 levels is a long with stop of 15791 and target of 15850.
2. Any bullish PA at 15875 is long with stop of 15856 and target of 15930.
3. Aggressive longs above 15900 only with stop of 15890 and target of 15950.
4. Any bearish PA below 15870 is a short with stop of 15890 and target of 15830
5. Aggressive shorts below 15812 with stop of 15838 and target of 15776 .
This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.
Have a nice day!!
@SacredMonkey
Comment:
Plan 4 and 5 worked today. Cheers