MO at -30
Read MoreEvening MarketProfile report dated 05th Sept
The Nifty was neutral extreme at the close yesterday. This morning opened in range but once IB was done found acceptance and value below the neutral extreme of yesterday which was an indication it itself that the bias had moved to a short. In the afternoon session we saw a Large Lot trader at 11470 who attempted to push the index back up again. The ensuing bounce from a low of 11437 to a high of 11531 measured 94 points and was the biggest one ahead of the one from 11578 to 11649 which measured 71 points and we saw on Friday.…
Read MoreMarketProfile charts dated 05th Sept
MarketProfile charts dated 05th Sept MarketProfile charts of the Nifty and the BankNifty Sept Futures updated to trade date 05th Sept A “market profile” presents a number of basic elements from the market in an easily understood graphic format , when analyzed properly. A trader must first learn to understand how the market works. This is a great benefit, it actually forces a trader to learn and understand the key market concepts that lead to successful trading
Read MoreEvening MarketProfile report dated 04th Sept
The NF opened in the spike of yesterday’s auction, the BNF much lower. The lower open forced long liquidation in the BNF which dropped a further 488 points on the day. The Nifty was a neutral extreme at the close with the POC of August series at 11488 close to the lows and a support for a bounce tomorrow. The BanKnifty was a trend lower post-IB and the Initiative selling seen at 27740, 27850 and 27920 promises more lower levels ahead. The BN already finds itself near Aug lows and with bounces threatening to see more long liquidation and fresh supply…
Read MoreEvening MarketProfile report dated 03rd Sept
An open auction within the range of Friday’s profile saw a sudden spike down at the close and a test of demand at the VPOC from 24/08. It started with the initiative selling at 11735 and picked as the Nifty broke 11690, a level most participants had expected to hold. There is a trapped buyer near 11690 but towards the clsoe, we saw a lot of demand entering the market. Spike rules apply at the Open and the lack of sell-side pressure should create a bounce as long as the index trades above 11610 roughly. However, on the higher side, there are now 3…
Read MoreWeekly outlook for the week dated 03rd Sept to 07th Sept (spot prices)
The series of August which concluded on Friday was traded with a vwap of 11444 and highest volume during the series came at 11480. The Nifty trended up through the August series with buyers in total control of the auction and hence the vwap at 11444 will serve as an important pivot in the coming few months. The BN traded August with a vwap of 27923 and highest volume was traded at 28280. Viewed against the uptrending profile of the Nifty, the Bank index was rangebound and the last 4 weeks were spent in the same range forming a…
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