Profile check- 21/02

Here's what was posted on Friday after the market closed at 3.30 pm : Weekly Profile

 

This morning we had an open which has been in value and range of the previous sesssion.The neutral day on Friday seemed to suggest that some longs were moving out of the system. That is not the same thing as shorts coming in Smiley This was also evident in the monthly profile where value did not catch up to price as in the weekly.

 

Actually value and Price play a game of cat n mouse always with either  value moving to price or price moving to value.We watch this through the movement of the DPOC which can tell us where value wants to go.

 

Let's look at last week's chart again.

 

Mp Profile Check- 21/02

The green region is the value created last week. Friday's value high is also in the top end of that zone. So any move above the green zone will give the edge to buyers as new money may continue to move this higher.

 

The region of 5668 NF has been defended thrice and marks the point where buyers are trying to get in the market again.

We've noted a low volume zone below this which can quickly bring the market to 5644.

5524 will be the third point where the buyer will look to buy the dip again.

 

 

Back to today's volume charts :

 

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