Here are the two day profiles of the NF and the BNF for March post the big breakout out of the consolidation last week.
We all know the Market flows from Imbalance to Balance.
In the NF we are seeing early signs of that balance beginning to form as market players start accepting the region around 6550 as fair value.
This is a lot of opportunity still as NF stays on track for the 6700 F expectation as well as a restest of the 6400 zone which is necessary for a further upmove.
Once the new balance is done it will be easy to play that move whichever way it tilts
The BankNifty is however not ready to balance as yet.
It has had 6 straight trend days and is a major re-alignment of prices.
If you have traded BNF long enough, this is not surprising to most. Besides the instrument now shows fewer players but deeper pockets holding.
Today also is looking up and almost at the 12244 target which was anticipated .
Key Take-away- wait for the end of the IPM( Initial price Move) before you look at chasing shorts in the market.