End of day 10th June
A faulty internet connection robbed me of some precious blog-time from about noon and I apologize for the unanswered questions and my absence during an interesting move which unfolded. Here’s the profile chart of the Nifty Future The profile picture is again “b” shaped which speaks about shorts being covered.This can be checked with the […]
Estimates for 10th June
I am surprised to see the ES trade around 1052 level currently down 20 points from the time of my last post. The weakness seems to have been in the energy sector with the finger pointing done at BP yesterday !! Back to our markets, the price points which I have mentioned so frequently continue. […]
ES Update
Here is a chart of the Emini SPX futures also called ES. The chart is an intra-day chart of the past 30 days of 60 minutes duration currently reflecting an ES value of 1072 and we are 3 hours from the close. The volume profile on the right shows a high value zone at 1083 […]
Estimates for 9th June
Looks like a two-time frame market today. Volatility will be there as the tussle between time-frames would continue to define value for the short term. 4923-4964-5004-5027/39 are the levels for the day. ————–9.24 Grasim: 1775 now. Keep Sl at 1759 and exit the trade if it goes below this level. —————– 10.10 Above is a […]
Estimates for 8th June
At the time of this post markets are trading at 5040 levels above our 5027 level mentioned yesterday. This gives the market an even chance to hit 5070-5079 levels provided 5027 is maintained. Looking lower, 5002 needs to be protected on the downside as maintained yesterday, ——————— 10.53 Based on the activity so far, it […]
Estimates for 7th June
It is a foregone conclusion since the Dow and the S&P closed 3 % lower that Asian Markets and even our NSE would open much lower. What is important from a day trading and even a swing trading perspective is the market’s reaction to these low prices. Would dip-buyers emerge? or will it be sellers […]
The Market Open
In continuation of our series of updates to the ‘Market Profile classroom’, we look at the importance of the Market Open today. The open is a very critical aspect of the market Profile as it emphasizes the continuation or lack of continuation from the activity at the end of the previous trading day, even more […]
Estimates for 4th June
Nifty has opened around 5090 levels. Not much change in sentiment from yesterday afternoon. Watch for the response of buyers to selling activity in the 5103-5108 range. Similar levels in the bank nifty are 9295-9305. On the downside levels would be 5078 and 5060-65 ————- 10.30 Bank Nifty is above our reference level of 9310.I’m […]
estimates for 3rd June.
The gap-up has definitely compounded matters and put us in that zone where it is decision time. I’m watching the levels of 5065-5078 right here. Let’s see if the strength shown by buyers can take the market above that second level. ————————- 9.55 Early indications that the gap up has been accepted by players. I […]
Just Nifty
I have been surfing for the past thirty minutes on one of my favorite sites – Just Nifty catching up on market action there.Those of you not familiar with the site or it’s owner Mr. Illango, I would advise you to check this place out : http://tradeinniftyonly.blogspot.com/. Illango brings to the table a unique system […]