Trading Room Charts n Plan for 12/03/14

Bn_Of

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

Bnf_Mar_Compo

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.

 

 

Mar__Nf_Compo

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.

Nf_Of

 

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.