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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Weekly outlook for the week dated 17th Sept to 21st Sept

The weekly auction of 10th to 14th September played out exactly as the auction from 03rd to 7th of September. There was a drop in the first 2 and a half sessions of the week and a recovery in the last session. Friday was again an upmove day and with a close around marginally lower than the 11640 seen last  Friday. The August series vwap at 11444 broke during the week and as expected on the principles of Auction Market Theory, the Aug lows were tested. The lows measured 11250 spot against Aug lows of 11235. For the 2 weekly…

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Evening MarketProfile report dated 14th Sept

The Nifty futures opened gap up and the bounce we expected after hitting the objective of the down move at 11320 has played out. The higher open did not give sellers a chance to open shorts at the mentioned 11530 F levels, but there were attempts made to short near the 11490- 11500 zone as we have been mentioning. Into the close of the session dated Friday, our OrderFlow charts picked up significant sell side imbalances for the move above 11530 F and near the close at 11547 who may try to seize and drive an advantage on Monday at the…

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