Profile Update

Much before the selloff began today in the last hour the delta picture showed dominant sellers in both the Nifty and the banknifty today much unlike yesterday in the latter part of the session when the market was trying an upmove.


I like to see both NF and BNF respond in one direction from a delta point of view to tell me that the market is unanimous on the direction.


Here is the breakup of the delta bars we see on the screen with different panes showing the individual buying and selling taking place


Bidaskvol New Profile Update


Bidaskvol New 2 Profile Update


There was some short covering at the very close evident in the green bars and it will be important to see if the market stays below today's lows and the delta if it manages to do so tomorrow.


Here are the profile charts


Mp 61 Profile Update


Mp Bnf Profile Update


The late afternoon move is classified as a spike as the market did not have much time to respond to the new prices in terms of acceptance or rejection.


For tomorrow acceptance below spike lows will be bearish as per the spike rules. Check the glossary section .