The Chart of the BNF shows a profile staying above VAH of friday.
It also stayed majorly over the 10260 level mentioned in the trading room.
Chart shows some blue delta at close but price at the 3SD band. In such cases it is normal for the market to retrace it’s steps a bit.
The profile chart shows BankNifty in a neutral extreme day with a failed auction at 10210 today.
Failed auctions get visited within 5 days . If not it will signal a start of a new trend with stops at 10210 over the next one month or so. There are sellers at 10410 from the profile of 13/02.
The nifty profile chart shows a filling up of low volume in the 5963- 5994 zone. We spoke of the need for this auction today. Profile stays above VAH which was a positive step all day.
Even though the NF closed at highs, the delta shows sellers operating at 6073- 6081. As we saw last week on thursday when price and delta move in opposite directions, it sets up a consolidation phase over most of the next session. We should see some of that tomorrow.