Profile for 28/11 Mon

Nifty Mp9 Profile For 28/11 Mon

Nifty : The first day of a new series was divided equally between buyers and sellers and we had another neutral day in the markets. Neutral days are areas where the markets tell us that buyers and sellers are present in equal numbers in the markets and the market may begin a move in one direction shortly.

The last neutral day prior to the past two sessions was on 18/11 with the Nifty around 4925 levels and it is easy to see the kind of movement which develops after a neutral day, as one party is decimated and the other party takes control. In the context of the previous neutral day on 18/11, it was the buyer which gave up and the seller took over .

We also had a neutral day on Thursday and Friday’s action confirmed that the buyers and sellers were still equal as the resolution did not take place. In traditional terms, we also had an inside day.

For the day the Buyer moved the market from 4710 to 4777 for another 67 points of gain and the seller came back with 4773 to 4688 or 95 points.

The composite profile we track has been spilt into two to gauge the market movement better. The lower profile is now the auction of the past there days.

Nifty Mp241 Profile For 28/11 Mon
The 3 day profile is beginning to look like a D again and is on the verge of another move. Trading the break of value and range is the best strategy for the current neutral bias and may bring levels of 4906 on the upside and 4413 on the lower side.

The Prime levels for the Decemeber series are :

5029- 4906- 4783- 4660- 4536-4413-4290.

( to be read as PR3-PR2-PR1-PP0-PS1-PS2-PS3)

4660 is the PP0 and the market is expected to hold a positive bias for the series as long as this level is held.

BankNifty :

Bn Mp7 Profile For 28/11 Mon
The BankNifty put in a normal variation day with a buying tail below and a minor p shaped profile which spoke about some shorts covering their positions.

The profile however remained inside and unable to break above the “o” print of 8547 seen on 23/11.

As a fore-runner to the Nifty, it’s important to see if the BN can take out this seller as well as auction above the POC of the previous balanced profile at 8631 from where the previous buyers had liquidated earlier on 22/11.

The monthly prime levels for the December series  are :


( to be read as PR3-PR2-PR1-PP0-PS1-PS2-PS3)