The Prime Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
Broader Market of Thursday : A normal distribution. Market has finished step 2 of the new IPM started at 5233 and may be ready for step 3 now.Imbalance to balance and back to imbalance.
Bank Nifty :
Back Ground : – Dominant seller at 10525.
Chart speak :
1) BN created value lower than previous 4 days which were in balance
2) Profile is b shaped ( bearish)
3) The New move has started from the POC of the previous bal area ( 4 day profile)
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
– FA at 4816
Chartspeak :
1) 5th day of sideways distribution
2) 5 day balance area is ripe for a break out
3) today’s profile was also bell shaped, indicating a new move about to start
Broader Market of Thursday : A normal distribution. Market has finished step 2 of the new IPM started at 5233 and may be ready for step 3 now.Imbalance to balance and back to imbalance.
Bank Nifty :
Back Ground : – Dominant seller at 10525.
Chart speak :
1) BN created value lower than previous 4 days which were in balance
2) Profile is b shaped ( bearish)
3) The New move has started from the POC of the previous bal area ( 4 day profile)
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
– FA at 4816
Chartspeak :
1) 5th day of sideways distribution
2) 5 day balance area is ripe for a break out
3) today’s profile was also bell shaped, indicating a new move about to start
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