Here is the composite chart of the NF showing the auction of last week and the current week.
All of last week was symmetrical a proper Gaussian setup maybe with a little more filling below required.
What was not right was the open on Monday away from the highly traded zone.The market rectified that anomaly over the past few hours of trading since the RBI news.
The net result is that the market is back at the heavily traded zone of 5117- 5120.
We always mention that these heavy volume zones attract price always. But even more importantly the move away from this zone will set up a high profitable trade.
Lots of energy in the profile. Wait for the release.
The banknifty is back at the level I had spoken about in my last blog post on the subject – http://www.vtrender.com/content/banknifty-profile-check
The lower distribution below the 9800 level, confirms the seller presence and underlines the importance of that level.
So with the NF at 5117 and BN at 9800 we should have an important session tomorrow.