Evening MarketProfile Report dated 21st May

The highs at the open today in the Nifty futures found aggressive sellers and a bit of long liquidation pushing the index again lower by 100 points to 10521. Once more supply was seen drying up at 10520- 25 and at 25730 in the BankNifty. But the damage has been done to the structure today at 10590 and 10630 which could act as fresh supply points in the sessions ahead.   The short-term weekly outlook for the Nifty and the plan we intend to follow is at  –https://vtrender.com/weekly-outlook-for-week-dated-21st-may-to-25th-may-spot-prices/ Nifty May F:       The NF Open was an Open…

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Evening MarketProfile report dated 18th May

The nifty stayed below the spike lows on Friday establishing a sell-side bias early in the session. The late buyers seen on Thursday had to reverse their positions quickly and the Nifty dropped to 10586 by the close. There was also big responsive buying into the close as the Nifty tested the 10600 mark yesterday. The gains of May have been given up but there is a noticeable lack of supply near 10600 F . The auction should head back to 10650 and 10730 in the sessions ahead. The short-term weekly outlook for the Nifty and the plan we intend to follow is…

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Evening MarketProfile report dated 17th May

The nifty drove down below 10765 early at the open and stalled around 10728 for a considerable amount of time in a b shaped profile. There was a spike at the close from 10728 to 10680 F but we saw evidence of strong responsive buying in the spike. The 10660 vpoc from 04/05 is the immediate support on structure followed closely by 10596F. Buyers should respond closer to these 2 points if they want to keep the auction between 10600- 10900 for the rest of this series. A failure by buyers at 10600 F opens up 10440 and 10260 later this…

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Evening MarketProfile Report dated 16th May

The nifty gapped down at the open today and the responsive buying which was expected showed up at the end of the first hour to take the Nifty Futures to 10813 by 1 pm. But just around the prices of the last hour of trade in the Nifty, we saw a sharp responsive seller emerge who managed to push the index lower to 10740 again.  Whilst yesterday was a pure long liquidation play on the inability of morning longs to hold the vwap of a Drive, the sharp responsive seller of today at 10805 F marks a turn in the…

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Evening MarketProfile report dated 15th May.

As results poured in from the state elections in Karnataka, the auction in the Nifty and the BankNifty futures was a dual auction led by Buyers for the first hour and then sellers into the close . We saw a classic Open Drive in the morning which measured 160 points from the open. The expectation was that Buyers would hold vwap on such drives. But a mix of news and long liquidation forced the morning buyers off below vwap and the auction visited the day lows again. It was a classic auction which was measurable and non-volatile.  Having tested 10940 in…

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Evening MarketProfile report dated 14th May

I had mentioned in Friday’s report that the spike zone of Friday’s auction was an important reference area to pick up the day bias for the session dated Monday. The Nifty opened in the spike and crossed above the spike highs which it sustained for over 2 hours. But once it came into the spike it drifted quickly lower to spike lows where we saw responsive buying attempts. However, for the rest of the session, the spike highs were not crossed. The BankNifty also attempted a range expansion off the imbalance from Friday afternoon but that was met with failure…

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