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Those who followed out positive bias call from Friday afternoon should be a happy lot, by this morning.
We are at 5000 Nifty spot levels at the time of this post.
I see a possibility of a move down to 4954 Nifty spot, from where buying should re-emerge back to these levels and more.
Alternatively if we drift here for a few more hours, without going down, then we can see 5066 Nifty spot by tomorrow itself.So 4954-5003-5066 are my pivots ( all Nifty spot).
There is a problem with the mail delivery system due to which some mails have failed.We are working on it. Appreciate your patience.
Here is the email which was sent out last night. The link is to 4shared.
Sending across a power-point presentation on Market profile.
I am not the original author of this file, but it has been with me for such a long time that I have forgotten the person who had sent it to me.It’s now yours and the first step to understand the role of profile in charting.
This presentation covers most of the theory behind implementing the system and a solid understanding of this would help you in getting a foothold in this system of trading.
There has been suggestions that we provide another platform for the questions related to this topic. We already have a great platform at the blog and you are welcome to ask your questions over there in the comments section.Those with further doubts can correspond through email as well.
During the course of the next few weeks we will examine all the material in detail together with real time charts of our very own Nifty.
The link : http://www.4shared.com/document/hAZuo2CF/marketprofile.html
5026 NF is temporary halt and place for booking some longs from lower levels. At the moment, this upmove is safe above 4998 NF.
If it continues towards 5066 Nifty spot levels, then it presents an excellent opportunity to buy into some shorts with good risk : reward ratio.
Break of 4972 NF to be watched.Should bring 4945 NF or our 4954 spot from morning.
Aggresive trade :
Buy Bank Nifty at current levels ( 9125-9135)
Target : will update
Bank Nifty aggressive trade stop hit.
Make an exit.
Saw 9170 after my entry at 9126