April Series — Two Sessions Old

New week begins.

A quick Market Profile note on Nifty Spot using Monthly profiles.WE are at an important zone in the context of swing trades and all traders, inclusing short term derivative and intra day traders should take note

The most important level on the chart is is the big swing support zone at 22000- 22100.

The Nifty has bounced off this zone in March 25, Apr 25 and just before in June 24

The Profile chars show single print supports at this zone and single print support weigh higher than ormal support zones and cannot be ignored.

1) 22100 — Current market-defining zone
Exactly 1 year back we bounced off these levels during another time of geo strategic uncertainty. Those were Tariff Tantrums, these are Hormus Fue supply . Will we?

2) Orderflow data during Rollover and early April sessions
The Orderflow data as of today does not show shorts built for April around 22200 zones . This is important . On Friday the Nifty bounced off again smary from these levels with little supply and some new demand in tape

Smart money is the first mover in any price action and all moves begin in the micro time frame. The note - Unlike March which started off with aggressive shorts on the very first day of series, April has not.

3) 22900 — This week’s weekly VAH

This is the minium level for bulls to arrest the downside momentum seen in the last quarter. As you know already a market which stays above weekly VAH leans on a bullish outlook.

4) 22000 again

The xone at 22000 is also the 2 years old Balance lows defining price action of the past 2 years. Any break below this is new information in markets and the potentail start of a multi month new imbalance