Nifty Future is currently trading at 5135 and the Bank Nifty is trading at 9610, both trades have logged in gains from the morning.
The reason for this post is that there is a fair bit of ambivalence regarding the next few moves in the Nifty from purely a market profile point of view.
Those who have been following my recent posting know the importance of the 5135 level.
There are two ways it can go from here ;
1) Go straight down to 5092-5080 levels
2) Up to the levels of 5220-5225.
Both of these are short term views and should be realised by tomorrow at the latest.
I would suggest partial booking of profits at these levels and bring Sl of the remaining to cost for those holding more than 1 lot. Targets are already given.
There would be no further updates for these 2 positions.
