Profile charts for Tues-29/11

Nifty Mp10 Profile Charts For Tues-29/11

Nifty : Coming into the day, we were waiting for a resolution of the neutral day seen in the markets on Thursday and Friday, and had noted that a break of value and range would setup the most rewarding trade as one party would give away control to the other.

30 minutes into the open, the single prints confirmed that buyers were in control and would force the other party to liquidate as we moved away from the 2 day range and the net result was that the market finished 140 points higher.

The biggest sell reaction the entire day did not measure more than 20 points confirming buyer domination over the day’s proceedings.

Into tomorrow, the first noticeable change in the market would be to see a sell side reaction of more than 20 points.Also there is an anomaly around 4848, which the market should repair by paying a revisit there.

4906 is a resistance zone as it is the “o” of the profile dated 21/11 and the POC of the profile dated 18/11.Acceptance above 4906 would send the market straight to 5029.

4906 and 5029 are also PR2 and PR3 for the month.

The broader short term trend will have an up bias as long as the single prints between 4840 and 4890 remain in subsequent profiles.

BankNifty :

Bn Mp10 Profile Charts For Tues-29/11


The BN had a normal variation day with the buyer in control and range extension above IB. The close was well above the POC of the balanced profile of 22/11.

However the market was not able to clear the “o” from the profile dated 21/11. We wait to see if the market finds acceptance above this level of 8823 for the up bias to continue.

The shorter term trend remains up above the single print lows of today and the market should look to target the high volume node of 8988 next.

For the day the largest sell reaction measured 47 points and any thing bigger than this would point to sellers getting back into the market tomorrow.


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