Evening MarketProfile report dated 28th Aug

We got a Normal day in the markets today as balance returned to the auction especially in the Nifty after 2 sessions. The open rejection of the morning was met with sharp responsive buying/ short covering and once again the indices closed near their highest point. Into settlement week the theme remains short covering and all dips are likely to be met with short selling covering positions especially the calls. After the 11600 and 11650 call writers covered yesterday, it was the turn of the 11700 writers who have covered most of their short positions as of today’s close. The focus is…

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Evening MarketProfile report dated 27th Aug

An Open drive changed the auction around and we go a break away from the 3-1-3 profile of last week with a close at the upper extreme. Settlement music is playing over 11650 call writers and even 11700 call writers who should fuel the next leg of this settlement move upwards. Destination objective of the break away from 11620 is at 11735- 11752 and the immediate outlook would be to see is we get volume over 11750 immediately. The 11650 zone is now a support.  A weekly outlook was updated on Saturday at –https://vtrender.com/weekly-outlook-for-the-week-dated-27th-to-31st-august/ It is the same MarketProfile view working for…

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Evening MarketProfile report dated 24th Aug

The auction on Friday was again different in both the Nifty and the BankNifty. The Nifty opened as an open auction and tested the zone below 11550 where it did not again see new supply . It closed near the DPOC/ Vwap of day at 11570. Incidentally, 11570 was also the weekly POC. The BankNifty opened as an Open Test drive and went on to test the Initiative seller from Thursday’s auction at 28170- 28200. Supply overwhelmed demand at this pivot and the inability of the open buyers to protect vwap on the test led to long liquidation and a…

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