Profile charts for 5th 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 Thursday : An unfinished double distribution.

Bank Nifty :




Back Ground : b shaped profile of the previous session.

Chart speak :

– DD looks incomplete
– we take a DD as two separate auctions
– single prints at 10645 separate the two auctions
– lower support is at 10500


Nifty :






Background : – poor lows and an unfinished lower auction from prev session

Chartspeak :

– A DD with 5388 as a single print seller
– 5388 also marks a visit of yesterday’s failed auction and now represents a new IPM



Reliance :





Back Ground :

– sideways bracket from 824 to 848

ChartSpeak :

– RIL has broken below the previous bracket
– single print at 818.

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