February 4, 2013

Nifty Future For 5th Feb 2013

What a nice Trading day today from Open !!

This is what happens when everything goes according to your plan.

What Happened Today :

# Strong Conviction From sellers from open. Trend Day.

Wide IB , Continuous lower lows throughout session.

All one had to do is remain with your Trade. Such days are rare ,and we should make most of it.

Good Range today. Approx 72 Points.

Structure is Long elongated Profile with Multiple Small Balance Zones.
Which looks like Poor Structure  to me, expect Repair may be tomorrow or in  few days.

Today's Volume Profile Chart

Imp ref point is Orange line which is Vwap 6022.

As per Algo bar ref level is 6030. Better to Be on short side below this level.

For Tomorrow  if there is Continuation to today's move down, or Opens inside Value area.

For move down we need to look at Broader picture,

As you can see NF is rotating in balance zone , and now its near to Balance edge.
If there is Breakdown from this zone,i.e. Break of 5980 we can expect it to move into earlier Balance Zone.
Then One can expect Destination Trade, may be as Swing Trade.

For day Trade, One can Try Shorts near 6012 or  Vwap based on where it opens and how is Conviction @ Open.

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