Again Extreme volatile Day - Double NV day ??

Today's Profile ..charts speaks it all..what a volatility!! After weak IIP data market saw steep fall made low of 5711..and then rotated there for nearly tow hours D/E/F/G period low was 5711-12..finally giving upside break, moving away from previously formed Balance areas,closing near days high.
such days are rare , as had RE on both sides, hitting 200% of IB range ..so can we call this day Double Normal Variation day ?? Will discuss with fellow MP traders.
Notes for tomorrow,
Move away from last 2days balance area 5780-5834 (12 Dec) and 5827-5855 . so if 5850-5860 levels hold we can see some more upside.
Levels to watch on upside are 5927-5960.

Again Extreme volatile Day - Double NV day ??

Today's Profile ..charts speaks it all..what a volatility!! After weak IIP data market saw steep fall made low of 5711..and then rotated there for nearly tow hours D/E/F/G period low was 5711-12..finally giving upside break, moving away from previously formed Balance areas,closing near days high.
such days are rare , as had RE on both sides, hitting 200% of IB range ..so can we call this day Double Normal Variation day ?? Will discuss with fellow MP traders.
Notes for tomorrow,
Move away from last 2days balance area 5780-5834 (12 Dec) and 5827-5855 . so if 5850-5860 levels hold we can see some more upside.
Levels to watch on upside are 5927-5960.

Volatile Session !!

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,

Day Type = Normal Variation Day
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.

Volatile Session !!

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,

Day Type = Normal Variation Day
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.

No space for Bulls to Hide !!!

Nifty Fut closed today @ 5766 after breaking  major support of 5820.
This down move is very fast ,nearly loosing 7% in just 5 days
(5% in last 2days ).
On daily NF charts candle pattern looks like 3 BLACK CROWS , one of  Reversal pattern where three black candles appear consecutively, each one opening within the body of the other and closing at a new low,
Reflecting increased bearish strength.

Now supports to look at are 5720-5660.Not sure whether support levels  will hold or not.

Today only stock closed with strength is ACC.If tomorrow market get bounce it can b bought with stop of 1006 ..Trgt 1035-1045.
It might not sound very good idea to look for buy now..however we should have our stocks picked in case we see any technical bounce. 
charts for reference,

No space for Bulls to Hide !!!

Nifty Fut closed today @ 5766 after breaking  major support of 5820.
This down move is very fast ,nearly loosing 7% in just 5 days
(5% in last 2days ).
On daily NF charts candle pattern looks like 3 BLACK CROWS , one of  Reversal pattern where three black candles appear consecutively, each one opening within the body of the other and closing at a new low,
Reflecting increased bearish strength.

Now supports to look at are 5720-5660.Not sure whether support levels  will hold or not.

Today only stock closed with strength is ACC.If tomorrow market get bounce it can b bought with stop of 1006 ..Trgt 1035-1045.
It might not sound very good idea to look for buy now..however we should have our stocks picked in case we see any technical bounce. 
charts for reference,

Nifty Review

As title of 6th Jan NF update said- "b"shape long liquidation ??  Bears took control form the open of market, with no support coming from responsive buyers NF  closed 2.6% down with above average volume.Fall is too much too fast. Now whats next ?? I have marked Trend lines on chart.
In Market profile terms last week NF made overlapping higher Value area but closed well below last two weeks low.Very bearish,Hitting 3 VPOCs on the way down. @-)

Lets see on Monday, how market opens n whether it  continues its move down or get some Bounce to 5940-5960.
If we  see some recovery, stocks to watch are,
Bank of India @ 450 +1.6%(chart in earlier post ), Bank of Baroda @848 +1.2% are stocks which closed positive.

About earlier stock chart posts..ABAN hit stop loss of 772 on closing basis.