Hope everyone had a good weekend.
Returning back, the markets will continue where they left off on friday with no news to alter sentiment as such.
Those who had taken long/ short trades over the weekend will not have much to show by way of profits, because the market profile gave us a neutral day on friday.
So the buyer keeps his advantage because he kept prices over value on friday, but he will be severely tested at 5045-5065.
The seller has shown that he is waiting to sell at the above mentioned prices.He will have control a bit, when prices break 4990.
Let’s see how it resolves.
Description : Sell Nifty Future
Cost : Below 5030
Sl : 5046
Target : 5005.
It seems like another quite day of trading today.
Notice the open of the future today and the close on friday. This shows that there is no major change of sentiment from friday and buyers/ sellers have more or less agreed on value.
So expect tight movements and a narrow range.
The resolution will happen only when we see some aggressive intermediate term selling/ buying happening during the course of the day.
Stop hit in Nifty sell below call.
Make an exit.
Loss = 16 points.
Markets moved between value area low and the major MP pivot of 5065 NF.
We lost out on a trade, but there were enough set-ups for the studious profiler, including a profitable shorting opportunity at 5050 levels
In the end it was a neutral extreme day, with a close on one side of the profile, though most of the moves were in the last 30 mins ( monthly window dressing again ?? )
Let’s see what the open shows up tomorrow.We will know for sure at the open, whether the move was a real one.