Month: April 2013

Here's an update to the charts posted yesterday-


We had a neutral extreme in the markets yesterday.


Nifty Mp 29 Profile Update


Bank Nifty Mp 3 Profile Update


In a neutral extreme the value areas are not important as buyers and sellers contended for value but the decision was made in favor of one party at the close.


In the case of yesterday it was the seller who took price lower.


But today's auction is slightly different in the sense that the seller has not pushed price below the neutral extreme low.


So in such cases we watch out for the 1/3rd retracement of the range or the second and third deviations of price from yesterday.


That comes down to 5536 and 11034 in the April futures.


The Buyers have to move price above these points to gain control lost yesterday.



Profile Update