At 11.30 am the markets are trading at 5978 in the Nifty and 12260 in the BN.
5978 is the value low in the Nifty and 12260 is value high in the BN.
The BN is operating within range of yesterday which itself was an ‘inside day’.
Use 12260-12210-12200 to detrmine your direction in the BN as also 12147 & 12338 which represent the range.
In the Nifty, we have reason to believe that we are in step 3 of the Market profile 3 step process and we can expect a vertical move within the few sessions remaining for this expiry.
The direction is not resolved still, but we are using 5990 and 6010 as short term refrence levels to the downside and upside respectively.
5947 and 6048 beyond the above mentioned levels will shape up the trend for the remainder of this expiry.