Looks like a two-time frame market today.
Volatility will be there as the tussle between time-frames would continue to define value for the short term.
4923-4964-5004-5027/39 are the levels for the day.
Keep Sl at 1759 and exit the trade if it goes below this level.
Above is a price profile chart of the Nifty Future.
Last week we had seen a breakdown till 4931 followed by value creation above 4955 and finally a breakout above 4983 which took the indices above 5065 levels.
The region between 4983 and 5065 is marked by Zone A in the chart.
From Early Monday morning right until the breakdown yesterday afternoon, we auctioned entirely in the zone A which is now represented by zone B in the chart.
This morning again we find ourselves at the base of these two zones.
I have notices the failure of the market to go above yesterday’s value low which is at 4993 levels.
The auction which we called for in the afternoon post yesterday, thus restricts itself to these two levels mentioned.
Shorts are therefore at an advantage, as long as prices remain below 4993 and by extension our pivot at 5004.
Hope everyone had a good day.
Value moved lower today and once again we saw the seller acting out at higher levels.
Points to a move downward in the coming sessions,
But everyday is a new day for us profilers and whilst the past is a good reference point, the order-flow of the moment is the most important !
See you later..