Trading Room Charts n Plan for 12/03/14


After a few sessions when the NF and the BNF were not together in balance ( BNF was still trending controlled by one time frame, and NF was 2 time frames)  we had a balance seen in the markets today


The BNF chart above is another 3-1-3. ( The glossary section has been updated with a 3-1-3 definition under P)


It does look like the BNF would want to remain inside the range for a few more sessions.


For tomorrow it could be a 12160- 11980 kind of range again. 12081 is today’s vwap and can be the centre of that range even for tom.




The NF was not inside in the true sense but largely remianed in the same region as the past 3 days.


we now see M,T. W developing as ac ceptance of last week’s big move and getting ready to move out as energy fills in the profile.



Conventional traders would wait for the inside day breakout for a new position which can fetch between 74 to 120 points.


However one possibility of such patterns is a neutral day emerging if the market moves in the balance or inside region again.


We have had one IBL lower breakout and one IBH higher breakout today, hence a neutral day cannot be ruled out.


VWAP and IB levels should be used wisely tomorrow to manage positions even for a breakout of inside day.