Support and Resistance levels Nifty & Bank nifty Futures

Here are some quick reference levels for the Nifty Futures and the BankNifty Futures. These levels work as support and resistance and are derived from the Market profile charts. Nifty Monthly spot :         Nifty Futures Oct F:         Monthly Zones: The vwap of the  Oct series is  at 10490 spot and the POC is at 10323 The vwap of the Sept series is  at 11304 spot and the POC was at 11460 The new series Oct volume has been traded a 1000 points lower than the previous Sept series The settlement day (Sept) rollover volume point is at 11025 F. The settlement day…

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Market Profile analysis dated 25th Sept

The Buyers managed to get a toehold back into the auction today as they defended aggressively the region below 10950 which the sellers were trying to establish control on. There were 2 runs below 10970 twice in the day and buyers were able to push back the aggressive sellers on both occasions. They also managed a range extension above 11060 late in the session which they have to defend again tomorrow if they want to move towards 11180 and 11220 F again. A weekly outlook was updated on Saturday at –https://vtrender.com/market-profile-view-and-charts-for-the-week-of-24th-to-28th-sept/   Nifty Sept F: Intraday and swing trading view…

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Market Profile weekly outlook for the week dated 24th Sept to 28th Sept

Friday was a big down day in the Nifty and the range traded on Friday was about 485 points in a session. It made it the second biggest session after the big volatile drop of Nov 8 2016. To put that range into perspective the Nifty does an average of 480- 520 points in a month    Many people plot volume under a price bar and look at it as some kind of a confirmation indicator to what price is doing.   But when the day has already done 480 points between the highs and the lows what benefit are…

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Evening Market Profile report dated 19th Sept

We got another session which closed in imbalance today and a neutral extreme profile. One of the better ways to master Intra day Trading is to view the market from a Market Profile point of view and see who is doing a better job in the auction. There are many trading strategies involved in trading the market through a Market Profile chart and one such strategy is waiting out a neutral day profile. Such a profile can either close at the vwap or at one of the extremes of the day.   Whilst today’s profile closed at the lows, it…

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Evening Market Profile report dated 18th Sept

We have been pointing to the Failed Auction at 11298F as an important pivot for the rest of this series of September. There was no secure lows on the last visit below 11300 and we had got what we called a Failed Auction in Market Profile which is just an exhaustion of an existing move as sellers failed at an extension lower on  Thursday last. The Open drive of Monday was the first hint that sellers were back in full force and gaining in strength and thereafter a visit to the Failed Auction was almost a certainty. The trading strategy in Market…

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Market Profile charts dated 18th Sept

A “market profile” presents a number of basic elements from the market in an easily understood graphic format , when analyzed properly. The Market Profile offers a charting approach that is markedly different than bar or candlestick charts, which have been used historically to graph market activity. These charts are unique and different. When you trade with Market Profile, you in effect get a new and more powerful way to view the base market data. This base data is price, time and volume. Market Profile gives clarity to the volatility of the markets. If it is backed by volume, it’s…

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