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…

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…

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…