Market Profile EOD analysis & Ref levels

Nifty future opened above prev day value area again met with responsive sellers pushed price inside the value area (Open drive down) and stalled at 8430 yesterday's Poc. A neutral day ( bell shaped) with value area overlapping suggest a temp pause to existing rally. The slow move either side suggest market likely to spend more time in this zone. On a composite profile it looks a triple distribution marking 8475 a key ref zone.

Key ref level to track here is 8520 / 8475 / 8400 / 8330 . We should look for faster move on price leaving this zone to catch the next trade. Poor structure at 8380 zone is a sign of caution to add longs at higher levels.

Happy trading !

Jay

Market Profile EOD analysis & Ref levels

Nifty fut opened above value area high had open test drive up which is bullish continuation of prev day development. Price scaled to 8475 CLVN zone met with responsive selling . Normal variation day  with value area completely developed higher. We have a anomaly at 8395 zone .

Trend is bullish here. 8415 & 8455/8475 Key ref levels to watch out. We have 8330 nearest VPOC & 8240 placed on downside.  Also a Failed auction at 8192 zone. One need to tighten the tsl for existing longs & Fresh longs need to be avoided at higher levels.

Happy trading !

Jay

Market Profile EOD analysis & Ref levels

Nifty opened above prev day value area had a OTD up. Value area completely developed higher with range extension on higher side.  We are not getting any shut off to this current higher side auction yet. So theme is bullish continuation here.

Key reference levels to track here are 8375 & 8310 . A bit of caution would be poor structure at 8285 zone. 8450 we have a pending POC at higher side where there is high chance to probe that going fwd. Till expiry it looks bullish here.

Happy trading !

Jay

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.