Nifty Profile check

Here's a look at the composite profiles on NF and BN.


Mp 56 Nifty Profile Check


On Friday as we spiked lower at the close, the auction did not complete.


Today's move ( 2 hours of trade in the morning)  is to balance the big move down from Friday and the profile on the extreme right shows the volume building as price gets accepted at these lower levels.


The chart above is a composite profile chart of the different auctions and we can see the last attempt at value was at 5548 NF. This will be the minimum accepted level on a closing basis for the bulls to seize momentum again. Please note that it is considered "minimum" of the requirements.


After the balance or the normal distribution of the 8th of November we can  see value going lower .This drift of value lower on the daily shows the sellers in control.


We also monitor "Delta" in the trading room live which is the net difference in the buying and selling volumes. This delta figure is not yet green in the first two hours of the day which to us indicates the absence of big buying at these levels. We still have a few more hours in the day and that can still change.


Overall the profile is trying to balance here and we should get a sideways move developing here for this session and a move possibly tomorrow out of here, which should complete a double distribution from Friday.