Market Profile EOD analysis & Ref levels

#NF opened flat probed down & auctioned sideways for most of the time. Broke IB low & entered prev day single print buying zone. Took support at 7945 (VAL of 12/6/15) found responsive buyers there scaled up to yesterday's high making an neutral extreme up day. Its bullish here. Things to note down to be cautious as today's value area overlapped lower & POC below previous day's POC.

Key ref levels to look  going forward. 7995 Today's Value area high & 8080 (10/6/15 Value area low) . Bullish scenario continues till it auctions above 7995 for 8150 likely probe zone going fwd.

Happy Trading !!

Jay 

Nifty Future for 20th-Feb- 2013

##  Neutral Extreme Day in Nifty.

##  IB Low And High both gets Broken and Market closes @ one Extreme.

##  OTF stepped later in  a day and held Market in Trend into Close.

##  So Now we look for Continuation to this Positive Close.

##  Which makes it Buy on declines. Ref levels to watch out are 5917 and 5937.

## Upside targets Could be 5970-92.

## Another Possibility if Nifty Opens Below 5957-52 , may Rotate in today's Single prints. ( 5941-24), This
     could be Open Trade ( Strictly open Trade, as on daily structure bias is +ve ).
   
    Similar Trade is Possible in TataSteel Future @ Open. i.e. Opens below 388.50, Short Trade possible.
    If Opens above 390.50, negate this trade.

Here is Tatasteel Chart,

Happy Trading !!!

NIFTY FUTURE For 13-Feb- 2013

# Day Type for Nifty Today Neutral  Extreme .

i.e. IB High and Low broken but close is on one Extreme.
 Today  its Bullish closing . We look for Continuation Tomorrow.

Ref Point 5930 ( Algo Bar Level ), so as long as Market stays above it, 5960-70 Possible on upside.
For that major hurdle is 5946-48

# 5921-22 Remains PVP ( Volume POC ) For two days, so that level is important now.

# 5903 Failed Auction Today.


Here is Profile Chart,