It's a known fact in market profile that periods of imbalance produce big gains and are worth the wait, in the balance zones which produce sideways moves.
After over a month of sideways motion in a 150 points range, we have had two big days which have produced amazing results for day traders.
In the NF the OrderFlow printed shorts for us at 5262 last week, profits of which magnified as Greek voters plunged the index down to the 5000 level early this morning.The Hollande victory was already anticipated by the markets, but it was the Greek news and the fact that they could move out of the Euro which spooked sentiment at the open.
The 5000 NF level was a significant level as it was the low of the flash crash and the mind raced instantly to a tweet from Viren immediately after that incident :
Anyways we had an OAOR play out at the open which did not give a hint of additional selling and we were waiting for the NF to do a positive range extension above IB high to close out our balance shorts from the 5262 level.
The BankNifty had to be a leader if the NF had to break above today and it did not disappoint by printing a buy at 9577 today.
Today's trades were a classic example of the IB trades we had discussed in our post last week.: http://www.vtrender.com/content/nifty-daily-stats-2
If you had brought above the IB high of today, you would have had a multi bagger in your hands today.