Estimates for 12th July
The Nifty future has opened at 5370 levels up above the reference line of 5367. If this level holds up during the day, look for a continuous move higher. The Bank Nifty’s open at 9716 puts it between the reference levels of 9715 and 9756. Again, buyers are in control as long as 9715 holds. […]
Week-end charts
We will start trading on Monday with the indices at major reference levels. I want to start with a chart of the Bank Nifty Future. This profile chart clocked from the 21st of June shows the downtrend till the 30th of June, the balancing of the profile from the 30th of June till the 5th […]
Estimates for 9th July
We have a Game On today between confident buyers and aggressive sellers. Hopefully they resolve the range of the past three weeks once and for all. The value areas for Nifty are 5339-5327-5314 and for the Bank Nifty they are 9631-9610-9581. Value high at 5339 and the seller at 5344 if overcome can mean an […]
Estimates for 8th July
Good Morning. Some firecrackers in the US markets last night. A quick look at the charts tell me that it was high frequency trading which carried the market all the way up from 1043 to 1059.Only Buyers. We got a gap.And we are near 5320 levels again.I posted a chart yesterday of an auction between […]
EOD -7th July
At the time of this post the US futures are trading near the high value node at 1043 levels.I doubt that there exists much upside for that market from here today, but the question which is open is whether it manages to close above that level. I’m going to turn my attention to the football […]
Estimates for 7th July
The markets have opened down as compared to yesterday’s close. The little weakness was there in the charts and we made a mention of it at the close yesterday. For today, we want to see 5270 being protected by the buyers, for the upmove to have any chance. On the upside, resistance is again at […]
Bank Nifty-6th July
We are still having problems with blogger. Evidently they are undecided whether they will allow comments from all commentators or only people with a blogger account. Hope they resolve it soon. Viren drew my attention to a set-up he has been back testing with volume profile charts. Have a look at this chart : . […]
Estimates for 6th July
I’m almost certain that we will have an eventful day in the markets after three lackluster days of trading. We have opened again within the 5231-5285 range mentioned yesterday. The safest thing would be to wait for the range to resolve. 5253 would be the pivot around which a move to either side should materialize. […]
Estimates for 5th July
Good Morning All. We are arriving at trading this morning with a fair bit of uncertainty whether the markets would be open this morning or not. The uncertainty would mean a drop in trading volumes during the day. Please trade in liquid counters only. The US markets are closed today, so it will be interesting […]
Week-end charts
Here are some updated charts from earlier this week. The weekly consolidated profile is here : The bank nifty chart: The US futures charts : My comments on all of these charts are documented in previous posts. Nothing in the action on Friday on any of the posted charts changed anything with the analysis. Looking […]