This morning, we had an orderflow which asked us to reverse overnight longs at 5462 in Futures, something which we did and booked profits at PS1 which wasa pre market level generated through market profile charts.
Subsequently we got a long signal at day PP0 level of 5562, a a position which is up 50 points already!
We also looking at a failed auction in the Nifty Futures. You can learn more about failed auctions here
The market may visit 5437 again this week in a 75 % probability scenario based on previous results, but if it doesn’t then we will have a long term move on our hands, the roots of which we may have seen already.
