Levels and Plan for 22nd July
he Markets spiked lower in afternoon trade and made it to our first weekly support of 8518 mentioned over the weekend ( day low of 8517) . However the BN weekly chart was technically damaged in the sell off today and reached 18700 by close. Since the auction was a spike we await new information […]
Levels and Plan for 20th July
The NF and BNF put in a Normal day again as market participants digested a 3% move seen in the main index during the week. Both Profiles are back to balance.
Nifty/ BN Weekly View (spot) for 20 July- 24 July’15
In the weeks of 06-10July and 13th- 17th July we had placed a pivot at 8370. Our OrderFlow tools did not pick up huge selling interest below this number and on Monday of the week gone by the bulls seized the initiative by climbing above weekly VAH on monday itself and hitting the 200 point […]
Levels and Plan for 17th July
The NF and BNF trended again today and were in imbalance at the close.The break above 8440 spot has yielded the 8620 spot we discussed in the weekend post last friday. The BNF also is in the heavy supply zone near 18300 spot. As mentioned yesterday the auction is not yet showing dominant sellers and […]
Levels and Plan for 16th July
If yesterday was a Normal day in the NF, today we had a normal day in the BNF as both indices moved differently. Off a strong Open the NF trended into supply where it remained for the rest of the day. The move above weekly VAH we mentioned in the weekend post is on track […]
Levels and Plan for 15th July
Post the trend day we got a Normal day and the market returned to balance. The beauty of knowing Market Profile as a study is it allows you to anticipate freely and correctly most of the time. Our bias remains bullish but we brought some protective puts and would be looking to clear some long […]
Levels and Plan for 14th July
The expected trend day we have been tracking since Thursday’s posts, came about as thursday buyers defending 8330 rigorously triumphed over sellers from 8394- 8399 in a double distribution trend day which came about through a news based move from Greece. The index was 134 points higher by close.
Levels and Plan for 13th July
The expected trend day we spoke of in Friday’s plan did not materialise in the day. Instead the Nifty probed early above VAH and failed and went to the other side below VAL where it failed again. Our OrderFlow showed strong hints of buying at 8330 again and the same selling seen at 8394 plus […]
Nifty/ BN Weekly View (spot) for 13 July-17 July’15
Last week we expected a sideways 8370- 8590 kind of week. The index fell 30 short of the previous supply seen around 8590 levels and dipped lower to close the week below 8370. However the dip below 8370 did not meet the expected selling response and the index drifted sideways for the rest of the […]
Levels and Plan for 10th July
The imbalance of yesterday was followed by a balance as the market hit the npoc of 30/06 and paused. The profile again shows a selling tail at the top as the Open was rejected again, now 3 days in a row. We are mentally ready for a trend day tomorrow.