Today Nifty opened within yesterdays Value area and remained sideways for most part of day.It was Normal day till 2.30pm within Range of 5840-5780, getting reaction near YPOC level of 5830 it couldn't cross it decisively and later got range extension to the downside till 5700. 100 points down in half hour and immediate fast rebound of 100 points to 5807 ..finally closing within Value area@ 5807.(settlement price is 5770).
Creating Normal Variation day which hit Range extension target of IB X 2
Premium for NF increased from 3-4 points to 54 points (as per settlement price of NF its 16 points) ..extremely volatile day !!
Here is today's profile,
Shape looks like "P" indicating short covering.
So for any upside need decisive break of 5830-40 then we can see move to 5880-5900.
Lets see how market unfolds tomorrow.
Stocks: ACC mentioned earlier post did well..almost hit 1040 ( high 1042) closed @ 1029.Looking positive.