Here's a chart of the BankNifty spot showing the distribution of the past 2 months.
The Profile is a DD or a double distribution as it operates in the low volume zone in between the 2 distributions.
You can find a definition for DD at this link- http://www.vtrender.com/content/double-distribution-dd-0
The above chart is not for the day time frame, but the concept is still valid.
Under such situations, the market would move to efficiency by operating within the low volume zone for a few sessions.This zone is roughly 10370- 10530 on the spot and volume filling is required here.
A look at the option picture in BankNifty show that the 10500 strike is still call heavy implying g heavy resistance there, though there is evidence this morning of the strike cooling off a bit.
