Evening MarketProfile Report dated 17th April 2018

Coming into the session, we knew of Buyers in the 10490- 10500 F zone who would support any move lower. The Plan played out perfectly and the dip of 50 points was bought into and the Nifty closes near the highs of the session in the upper quadrant. We are watching the volume action around 10555-10580 and the Nifty can attempt that 10599 F region tomorrow.  From a larger swing view for the series closing next Thursday, bulls are very nicely placed to take this to 10728 F by next Thursday. We are at 10550 F with the value placed…

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Evening MarketProfile report dated 16th April 2018

Coming into the session, we were aware that the Nifty was Neutral with a responsive seller at 10525 and responsive buying at 10460. The lower open of the Nifty on Monday was an Open Rejection reverse or an ORR type of Market Profile open. It was a lot more slower than other opens of these types and hence the auction was stagnant for a while floating around 10470. But once the extension was done the Nifty closed at it’s highest point. The 10470 zone and 10496 buy zone is the immediate support for the auction now. On the higher side,…

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