Get started

Pivotstrategy

NARROW CPR STRATEGY FOR 15mins ICICIbank Hello in this 15minutes chart of ICICI bank one can see the down and the up arrow marked in the chart. The area with blue dots and a pink dotted line in between is known as CPR(central pivot range). It is generally assumed that whenever you get a narrow CPR in day trading it is a trending day for the particular stocks. Look at the price action at the very start of the downward arrow part...clean shaved red candle in the opening itself.one can short intraday at the close of the red candle keeping SL at BCPR, CPR or the TCPR. according to the risk appetite. approx 10points trade took place in a downtrend . The target can be any major support like daily, weekly or monthly pivot. Do not wait while trading just the CPR. Book it once it touches any support or resistance as a trend can change anytime and the narrow CPR is also easier to break any side. Now, look at the last part of the chart where the up arrow sign is marked. Again a narrow CPR and especially look at the price action of the first 3 candles, taking support at the CPR. Look now how the stock got trending and gave a rally. So, whenever we find a narrow CPR its a trending day and when its a wide CPR it's going to be a range-bound day or a sell on rise day!!! My next example will be on wide CPR trades!!!
NSE:ICICIBANKEducation
by abhijitgujarathi15
12