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.
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 […]
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.
Levels and Plan for 9th July
We opened gap down today but unlike the past 2 gap downs this time the IB was not tested at the lows off the open and the market did not make a great attempt to stay above the Opening price. The result was that it went lower after IB before some buying at lows helped […]
Levels and Plan for 8th July
The imbalance of yesterday was followed by a balance but the auction shifted gears late in the closing hours and reached KRA from where an initial buying response was seen to close it back at vwap. We also saw signs of an excess at 8561 today in NF and liquidation near BRN of 19000 which […]