Evening MarketProfile report dated 30th April

We got a second P shaped profile in the Nifty in the auction dated 30th April with a POC of 10764. The earlier P with POC of 10723 is a support now and the market shows signs of short covering. Value is still higher and indicating that the path of least resistance continues to be higher. The short-term weekly outlook for the Nifty and the plan we intend to follow is at –https://vtrender.com/weekly-outlook-for-the-week-dated-30th-april-to-4th-may/ Nifty May F:       The NF Open was an OD driven by locals The day type was a Normal day Largest volume was traded at 10764 F…

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Evening MarketProfile report dated 27th April 2018

We auctioned above the spike highs early at the open in an Open test drive which converted to a P shaped Profile at the close. Quite clearly the late sellers of yesterday were caught off guard and the Nifty and the BankNifty closed at session highs. A P shaped profile has a reference area around the POC which at 10723 and 25420 would be the actionable point for the auction tomorrow. The short-term weekly outlook for the Nifty and the plan we intend to follow is at – https://vtrender.com/weekly-outlook-for-the-week-dated-23rd-april-to-27th-april/ Nifty May F:       The NF Open was an OTD The…

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Evening MarketProfile Report dated 26th April

Settlement of April series was done at the highest point in a spike which came later afternoon and ensured a close at the highs. Spike rules would apply immediately at the open for the intra day context and the idea would be to see if buyers respond if prices probe to 10603 May F again. We had anticipated an Inside day and trade was well within the range done yesterday. The April series closed with a vwap of 10420 in the Nifty (spot) and the highest volume of the series was traded at 10556 (spot). It was a series dominated…

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Evening MarketProfile report dated 25th April

Long liquidation set in the markets today and the Nifty retraced to the Buy zone near 10520 – 10530 where we had seen Buyers respond previously. However, there is weariness at the higher levels and settlement day tomorrow is most likely to be an inside day within the range of 10520- 10620 established today. Beyond that the Nifty may attempt a dip lower to 10385- 10410 F in the coming sessions to check for a firmer Buyer resolve The short-term weekly outlook for the Nifty and the plan we intend to follow is at – https://vtrender.com/weekly-outlook-for-the-week-dated-23rd-april-to-27th-april/ Nifty APR F:      …

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Evening MarketProfile report dated 23rd April

An auction which rose higher and hit 10623 was met with responsive selling and gave up most of the gains by the close. Our stated objective of the move was for the auction to do 10727 F by this settlement but the resistance building up, has forced us to clear our long positions near 10610F earlier today. Whilst we still believe that there are 100 points left on the table, but with settlement around in 3 days, we want to be chasing that last 100 points above 10630 F preferably with a new long position and a small stop of…

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Weekly outlook for the week dated 23rd April to 27th April

Last week the Nifty progressed higher again in terms of value with a close at the highest point. It was the third straight week where value progressed higher after the inside week broke higher at the start of the new series of April ( refer chart below). There is a clear indication of Initiative buying coupled with responsive buying in the Nifty which should keep the trend up as we look to close the month. The BankNifty OTOH built value sideways last week and was inside the previous week range. Quite clearly the banks are worried as the rising India…

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