Profile charts for 17 th August

The Prime Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.

The most important number to watch in the sheet is Prime Point Zero or (PP0) which is the level where the market is neutral for the day.A market below PP0 and moving lower is a weak market intraday and vice versa.A BUY signal can be booked at the closest PR1, PR2, PR3 and a sell signal at PS1, PS2 or PS3.

Broader Market of Wednesday : An inside day with a failed lower auction.Market is in neutral mode.



Bank Nifty :




Back Ground : – Dominant seller at 10525.

Chart speak :

1) Profile shows a normal variation day
2) large seller at open near 10185
3) minor buying near 9855
4) volumes were heavier than the preceding 4 sessions.

Nifty :







Background : – Huge gap between 5325 and 5233 which is a single print seller.

– single print buying from 4950 to 5010

Chartspeak :

– Neutral day with close at dpoc
– range extension was attempted above and below IB
– Failed auction at 5014
– 2 day profile is balanced with value area 5094-5028
– break of value and range is next best trade
– A move below FA low of 5014 is a new auction.

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