Weekly outlook for the week dated 16th July to 20th July

In the week gone by the Nifty and the BankNifty made decisive moves above the June composite profiles and the supply which was so dominant at 10820- 10840 zones. We have already seen an Open Drive UP at the start of the series and an Open Rejection Reverse at the start of the week which pointed to the longer time frame positioning themselves for a move higher.   The immediate objective of the imbalance has been met already and the Nifty and the Banknifty should put in another balance and consolidate in the week to come. The previous supply zone around 10820-…

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Evening MarketProfile report dated 12th July

A gap up forced short covering and a P shaped profile emerged later in the day as bears tried to push back in the second half of the session. Along with the 10920 of yesterday, the bulls have managed another strong support at 11000 today along with the 10966 zone from yesterday which should keep the buyers interested as the auction moves ahead. Today’s early upmove was through short covering. I like to work with a plan and a top-down approach to the market. A yearly and monthly outlook is updated on the blog. A weekly outlook was updated on…

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Evening MarketProfile report dated 10th July

The Nifty and the banknifty again gapped up and through an Open Test drive managed once more to finish in the upper quadrant in a repeat of the kind of auction we saw yesterday.Value was built higher again and one-time frame up behavior continued. I like to work with a plan and a top-down approach to the market. A yearly and monthly outlook is updated on the blog. A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-9th-july-to-13th-july/ It is the same MarketProfile view working for a 1- 5 day period on the Nifty and the BankNifty spot without worrying about the…

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Evening MarketProfile report dated 09th July

The Nifty and the banknifty opened as an OAOR and created value higher in the day. Volume became sluggish later in the afternoon as both indices coiled in a very thin range on reducing volumes. The auction at the close suggested a pause and caution on the path of both the long and the short view. It was clear that old business, as well as new business, was waiting for a clear path to emerge late in the session. I like to work with a plan and a top-down approach to the market. A yearly and monthly outlook is updated on…

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Evening MarketProfile report dated 06th July

The Nifty and the Banknifty put in an Open Rejection reverse ( ORR) right at the open. The ORR would tell a MarketProfiler that the longer time frame is again active in the markets and would defend the lows of the auction. The ORR of Friday showed non-acceptance of the auction below 10718 and is our short-term support headed into the coming sessions.

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Evening MarketProfile report dated 05th July

The Nifty and the Banknifty consolidated on the gains made yesterday. The profile was gaussian at the close indicating acceptance of the higher value. Bulls would be happy to drive prices above the value of today. However, a failure would mean some major long liquidation coming up. I’m speaking in depth on using MarketProfile the correct way in Hyderabad on July 7th. Details at – https://vtrender.com/marketprofile-in-hyderabad/ A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-02nd-july-to-6th-july/ It is the same MarketProfile view working for a 1- 5 day period on the Nifty and the BankNifty spot without worrying about the movement of…

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