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.

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.

BOI

Bank of India daily chart...CMP 456..looks Break out..but do check today's close.

About Bull call Spread proved out to be on wrong side..did some adjustments to it.

BOI

Bank of India daily chart...CMP 456..looks Break out..but do check today's close.

About Bull call Spread proved out to be on wrong side..did some adjustments to it.

Open Update

NF opened within Value area and Range..so looks balanced.
Open type looks Open Test drive ..opened 6064..tested Yesterdays VAL n turned around.
As mentioned im in bull call spread ..today likely to form range..Buy low..sell high strategy may work. i.e.Trading range 6050-6070-6080.

Happy Trading !!

' b ' shape - Long liquidation ??

Nothing much to post now as 3pm update covered all days action.
Profile shape looks like " b" today (yesterday was " P" :) )..does that mean longs getting liquidated..
Attaching Profile chart..inset is one of the contra trading system snapshot.. based on that i have created Bull Call spread today. sounds adventurous  ??? dunno..Risk : Reward looked good.
 Lets see tomorrow, how market opens.

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Nifty Fut ..3pm update

Here is today's profile.. every period separated to give clear picture ..looks trend Day so far..each period made new low..however now Nf trying to move up..creating SP in " J" period..and "K" period made high than I n J period..
Now price behavior near POC 6077 is key and crossing H period high 6083..can take  NF to 6115.
Taking longs here or creating Bull spread makes sense to me  ... take ur decision wisely . :)