EOD update 21st June
A quick comment on the Nifty action of today. I had noted the action of today to form a “p” shaped profile. We have seen earlier how a “b” shaped profile results in a stalling of an upmove. A “p” shape on the other hand can be a pre-cursor to longs unwinding in a stock […]
Estimates for 21st June.
Good Morning all. I’m just returning to my office after a weekend trip. The market is giving us an open which is outside of value and range of friday. There are large possibilities for a directional move in either direction.Quite simply the gap up is a buying tail, indicating the presence of buyers who want […]
Estimates for 18th June
GM All. It seems we have another quite morning on our hands in the first session today. 5266-5271 should provide initial support below which value areas will have to be watched. Bank Nifty did not participate in the big run-up yesterday afternoon, so keep an eye on it for weakness and for short trades. Here […]
Estimates for 17th June
An open of 5232 against the close of 5223 yesterday, suggests that not much has changed in the way the market is looking at the short term picture. Whilst there is a bit of heaviness in the prices, as maintained yesterday the sellers have not been very aggressive to push the prices down. All that […]
Estimates for 16th June
The value area rule should come to play today, for all of you 80% rule lovers. Value area for today : 5217-5194-5174. Short below 5217 for 5194/ 5174. Chances are as good as 80 % if we get to 5217 by/ before 10.30. SL 5236. Happy trading. ——— 9.20 Levels to watch on the upside […]
Estimates for 15th June
Looks to be a narrow range morning session where the high value node at 5218 NF should put up some resistance for the Nifty. On the downside 5174 and value area high at 5182 are initial supports. ———— 10.51 Nearly 2 hours of trading have passed and the Nifty has traded a narrow 24 points […]
EOD 14th June
I had posed a question in the comments section in the morning today at about 9.45-ish, about the kind of day that awaits us. We had a normal variation day today. Such days are generally difficult to predict, as things can change a lot in the C, and D and E,F periods. But I found […]
Estimates for 14th June
A generally bullish day expected with an open of 5138 which is above value and Friday’s range. For the purists, it is also an open above previous resistances. To us, it signifies that buyers are back in control and ready to push the market up. 5156 and 5177 would be levels to watch on upside. […]
Profile Analysis
I hope regular visitors to the blog are getting an idea of how market profile is helping us to analyze the turns of the market and keeping us ahead in our assessment of order flow. I can think of no better example than the post made here yesterday which prevented us from going overboard with […]
Update 11th June
75 minutes after the day open the high of the day is near the open print. This open price needs to be monitored to see if buyers can push it above this level towards 5155. On the lower side a break of 5107, should bring 5082. Watch price volume reactions at both these points. ———————– […]