Bank Nifty daily profile

Here's a look at the bankNifty spot chart from the highs of 13303 to the lows of 7766.

 

Spot 2 3 Bank Nifty Daily Profile

 

The Profile on the left of the chart is very symmetrical and balanced.

 

The value area id shown in green.

 

It's currently at 11056 and 8950. This is roughly the zone the market has operated in from march of this year.

 

A smaller mini composte has been put in on the right within this value area.It shows a value high around 10700 which is first support should there be a pull back.

 

It need not be mentioned that a move below this level will eliminate the big move seen last week.

 

The pink lines in the charts are resistances should the market move towards them.