The market still is in balance operating now in a smaller bracket which is well within the large bracket we pointed out in the last post.
As profilers we understand this to be a period where the big money is on the sidelines and the reason for that could be many from the UP election results to the Budget session on the 16th.
Nevertheless the most important thing for us to watch is the value areas and the high volumes zones . The weekly value area is uploaded on FDN and the movement of the last week can be best viewed in this split profile.
The yellow shaded region is the value area currently between 5433-5361 and a move beyond this can set up good trading interest.
The possible targets can be computed by looking at this chart of the High volume zones.
The red shaded regions will act as magnets once price probes above/ below the value area mentioned above.
Bank Nifty :
Similar study of value area and High volumes zones-