Here is the analysis posted last night on Vtrender-2 for the Nifty .
Monday, February 28, 2011
Profile charts for 1st march
Posted by Shai at 9:58 PM
– Nifty closed at the developing POC indicating balance for the day
– Buyers are holding the levels at 5304-5314, below which Nifty failed to auction today.
– 5304 will be a stop and reverse level for longs with target of 5229 below and 5391 above
– an auction back to 5391 will complete a balance profile for a directional 150 point (min) move either side.
When everybody was bearish, we played neutral as POC told us that buyers were in the market and longs with a stop n reverse at 5304 would have been an excellent risk/reward trade.
