Evening MarketProfile report dated 20th Aug

The auction on Monday in the Nifty opened higher than Friday’s profile and auctioned above the 2-week bracket the Nifty had been in. The close was in a P shaped profile at the highs. Support for the auction now has moved to 10500 with an objective set at 10653 and 10660 F A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-20th-to-24th-aug/ It is the same MarketProfile view working for a 1- 5 day period on the Nifty and the BankNifty spot without worrying about the movement of the premium which is a sticky issue now. Nifty Aug F:        …

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Weekly outlook for the week dated 20th to 24th Aug

Last week in the Nifty and the BankNifty showed a sideways profile with value going sideways confirming the presence of a bracket or a balance as we call in MarketProfile. The composite POC for this balance is around 11400 and we expect further rotations around this pivot for the week ahead.   The higher levels visualized are near 11550 if that pivot is held. Dips to 11300 would remain buys. We maintain what we said in the weekly update at the start of this new series of August – //As we move deep into the first week of the new series…

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