[CORRECTED] BANKNIFTY analysis for 15 Mar 2019
Dotted Dark Blue Line - CPR
Dotted Light Blue Line - CPR of Previous Timeframe
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5
There is formation of Inside Value relationship which means there can be a very trending movement if Index opens above H3 or below L3.
CPR width is very narrow->Trending
Both third layer and CPR is above previous day CPR an third layer -> BULLISH
Trading plan:
1.) If Index opens below L3 and sustains for 15 min, index will be trending downwards and will likely touch at L5.
2.) If Index opens above H3 and sustains for 15 min, index will be trending upwards and will likely touch at H5.
3.) If index opens between H3 and L3 , it will trade between H3 and L3.
Dotted Light Blue Line - CPR of Previous Timeframe
Dotted Pink Line - H1,H2
Dotted Brown Line - L1,L2
Red Line - R1,R2(Standard Floor Pivots )
Green Line - S1,S2
Pink line - H3,H4,H5
Brown line - L3,L4,L5
There is formation of Inside Value relationship which means there can be a very trending movement if Index opens above H3 or below L3.
CPR width is very narrow->Trending
Both third layer and CPR is above previous day CPR an third layer -> BULLISH
Trading plan:
1.) If Index opens below L3 and sustains for 15 min, index will be trending downwards and will likely touch at L5.
2.) If Index opens above H3 and sustains for 15 min, index will be trending upwards and will likely touch at H5.
3.) If index opens between H3 and L3 , it will trade between H3 and L3.
And, it just went up!!!
Inside value relationship has helped in predicting explosive movement.