The morning open of 4955 against a close below it, shows the conviction of bulls once again to hold the level.
Confirmation of this will be a trade above 4967.
The opportunities to look for shorts may come further up at 5004-5017 levels or below yesterday’s lows.
We have seen the ability of the seller to hold once again the 5065 levels. Till that is overcome the seller has the control over the short term trend.
Trade accordingly.
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9.38
Trade Alert : bank Nifty
Cost : 9005
Sl : 8965
Target : 9086
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10.10
Scratch out of bank Nifty trade here at 9000.
We will re-enter later.
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10.49
It’s a tough call at these levels to be short.Though the trend is with you, the risk reward does not favor a lot.
I see a stop at 4978 NF levels and at 5004NF +/-.
On the downside 4923 and 4882 can be your targets.
So it is equidistant and can swing either sides.
At the moment buyers have shown their hand and are willing to move the market up.
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10.53
I hope I am with you guys.
My methodology of trading revolves around bringing risk-reward in my favor.More reward than risk.
You have to be patient and let the market give you the opportunities.Don’t try to trade everyday, just becuase the market is open. Look for good set-ups and swing for the boundaries when you see one !
The markets are always there ! The people in the market change!
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12.25
Trade Alert : Nifty Fut
Cost : above 4975
Sl : 4960
Target : 4998
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12.38
Stop at 4960 taken. make an exit.
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12.41
range extensions on both sides have failed so far.
Markets trying to establish value here.Let’s see how the tussle resolves.
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13.58
Here is a consolidated volume profile chart of the past few trading sessions.
I had mentioned in a previous post yesterday, that the market may try to renegotiate value around the 4954 levels.
This is what is happening today as can be seen in the thickening profile in the lower part of the chart.
What are the inferences we can draw from this chart ?
Well it depends on how buyers and sellers agree on value here.
If the buyer thinks that the prices are undervalued here, he will quickly take it to 5023 levels.
On the other hand the seller will have a role to play below 4923 levels.
As an astute market profiler, you have to feel your way around these zones and let the market decide the plan of action.Your ability to recognise the developing profile will result in profitable trades for you.
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