In market profile the two most important factors which mark change are single prints and High volume nodes ( HVN's).
Both single prints and HVN's mark the end of one auction and the beginning of another. As you know in market profile we measure movement in market time by the above and not in days or minutes as is commonly done.
This across days one auction can continue whereas change can be best seen through one of the above.
Here's a chart which illustrates :
In the chart above the yellow prints are the single prints and we see them at the left of the chart at 5656 and the top at 5756 and today at 5768.
The current picture at the close today shows a seller in control who will meet the previous buying attempts made at 5684 and 5656.
A break of 5656 will give this seller new authority and he will look to target lower levels of 5592 NF.
What's also clear from the above chart is that 5774 and 5855 will be big resistance for the market going forward.
BankNifty :
The banknifty finds itself back in the balance zone we spoke about in an earlier post here- http://www.vtrender.com/content/nifty-and-banknifty-profile
The breakout move from the balance has been confirmed as a failure today though profile showed 11800 if not 12000.
The buyer of the breakout tried to defend prices at the lows on Friday as shown in chart.
However today's open drive down from that POC marks a rejection of that attempt.
The bracket lows and top of the single prints from 21/9 are now supports.