Every evening, we go through charts with our market profile tools and analyze the markets for regions of demand and supply.
We keep 5 charts in the trading room : Nifty, Bank Nifty, RIL, LT and SBI.
Every night an update is sent to prepare the trading room for next day’s major moves.
Here is a sample post from Friday’s close
Bank Nifty Futures :
– 11580 had the largest volumes and the region of 11580/ 11625 will resist all up moves
– below 11450, Bn can see 11366 and if that does not hold then 11280/250.
Update at 11.30 :
– High of 11588 and low of 11290.
Nifty Futures :
– Large volumes at 5760 and 5794
– above 5795, NF can move to 5823
– below 5764, lows of 5733 and 5702/14 can be seen again.
– a close above 5827 will pit NF on track for a 120 point moves to bal highs at 5948
– a close below 5714 will bring 5630/ 5570 next.
Update at 11.30 :
– High of 5790 and low of 5730.
SBI Fut :
– The inside days have set up a powerful move in sbi and re-entry into a prev bal zone.
– Large volumes visible below prev support of 2850
-2772 and 2722 are supports on way down.
Update at 11.30 :
– low of 2727 made.
RIL :
– RIL formed an inside day around HVN of 976.
– 971 forms the lower extreme, below which it will vist 956.
– above 988, 999/ 1004 are possible.
Update at 11.30 :
– High of 985 and low of 974.( still inside)
LT :
– Like SBI, LT had an inside day and broke supports this week.
– large volumes visible at 1605.
– below 1596, 1582/ 1567 are possible.
Update at 11.30 :
– low of 1569 made.
