Here's a small update to a chart I had posted at the end of last month.
In that post titled institutional activity we had noted the imbalance from 5650 levels with a view that it was ending at 5900 and a balance would begin.
That post is here- http://www.vtrender.com/content/institutional-activity
Here's an updated view of that same chart :
The profile after several days is looking like a completed bell with a small pocket needing attention.
This pocket would be the market's main focus and we have already had two distributions in this zone on the past two days. This morning also the market is working this zone out.
Markets move always from a state of imbalance to a state of balance. The balance is now appearing in the charts and when done this balance will give way to a 200 point move from this zone currently.
It's still not complete though and one gets a feel that the market may stay here for the next two weeks as well.