The market sold off at the open with the seller once again dominating in the region he has been selling from in the past two weeks. But the difference today was that the buyers appeared from the POC of the previous session and the net result was that the market finished at the day's midpoint.
The chart shows value being created higher and fairly good distributions, but also a seller at the top.of the recent trading range.
Only an exogenous event can break this impasse now and we have plenty of those kind lines up starting with the Railway budget on Wednesday.
With that as a background, it may look that the market may operate on a lower note tomorrow, which puts a higher risk for directional plays tomorrow. So trade accordingly on any new signals generated tomorrow.
