Nifty/ BN Weekly View (spot) for 14 March- 18March

Last week the markets moved back to Balance from the Imbalance of the week prior. At the close on Friday it did look like the balance was complete and chances of a secular move out looked large. We are looking for an opportunity to trade the exit of value and prices of last week. Market Profile shows us directions and control exhibited. From all accounts the Buyers seen at 6825 are still in the driving seat and in control. So our bias remains for a move up though we will be quick to adjust if the market shows a quick long liquidation.

N_Weekly

 

 

  1. The levels around 7555 are the key for a possible run up to 7670 and 7785.
  2. Below 7410 the market is weak and can drop down to 7307 and 7240
  3. We have to break out of the 7470- 7555 range for a good directional trade

 

Bn_Weekly

 

 

  1. A move above 15420 can put the BN on course for 15700/ 15820
  2. Support is at 15130
  3. Below 15179 risk of seeing 14700 breakout point is higher