Inside day

Here is the updated profile chart of the NF.

 

Mp 42 Inside Day

 

We had an inside day in the NF today with the highs of yesterday resisting the upmove in the mornng and the lows holding during the sell off in the afternoon.

 

The 2 profiles above ( on the right) have a lot of energy and a breakout either Monday or Tuesday from the inside day can set up another good 40 point trade from the highs or the lows.

 

I'm beginning to veer around to the possibility that we will see the 5180- 5280 low volume zone addressed in the week to come.Since the market broke out from the balance zone between 4975 and 5165, it has not come back to test the level for unfinished business.. Alos volume activity in the 5180- 5280 zone is very poor not helping the market's move to efficiency. So we may seea roatation in this zone for the volumes to fill up.

 

The 5200 strike in options currently holds the max Time value for both calls and puts at 46.91 Cr followed by the 5300 strike at 34.49 Cr and the 5100 strike with 15.55 Cr.. This points to a market having a better chance of rotating either side of 5200 rather than both sides of 5300. The catalyst would be only if 5225 LVN is taken out in the futures.