Market Profile weekly outlook for the week dated 24th Sept to 28th Sept

Friday was a big down day in the Nifty and the range traded on Friday was about 485 points in a session. It made it the second biggest session after the big volatile drop of Nov 8 2016. To put that range into perspective the Nifty does an average of 480- 520 points in a month    Many people plot volume under a price bar and look at it as some kind of a confirmation indicator to what price is doing.   But when the day has already done 480 points between the highs and the lows what benefit are…

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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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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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Evening MarketProfile report dated 12th Sept

A quiet open auction which was confined closely to the IB or the first hour of the trade broke away in the last 2 hours of trade again. The bounce was expected and played out on Wednesday From the auction of the day, we get an FA at 11297 which indicated tiredness on the path of bears to extend higher. The auction was an incomplete distribution at the close and again closed in imbalance for the second straight day. The 11430 zone is the first supply point and the 11465- 11480 is supply 2 for this auction where we expect…

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Evening MarketProfile report dated 11th Sept

The Nifty was a quiet auction, for the most part, today and rotational around 11465. But in the last 2 hours, it dropped from 11465 to 11322 on good volumes. There was no responsive buying seen during the fall and bears had no trouble to drive it below 11400 which would be an early hint of much much more lower levels ahead. Our 2 objectives for short-term at 11400 and 11320 have been met and whilst the chances of a bounce tomorrow are higher, the larger auction still points to sellers selling the high levels. We see great opportunities to…

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