08-11-17 Market Profile Blog [Nifty Banknifty Stocks]

How Nifty And Banknifty Traded Today

Slack Update 1

Yesterday’s late rally was completely rejected with a nice gap down. While there was some rejection on Banknifty Nifty did not have any excess at the lows.  So all we had to do was to monitor the quality of the pullback.

Image Nifty 1 – https://goo.gl/photos/fX416Q5iFmCaRD8UA

Image Banknifty Market Profile 1 – https://goo.gl/photos/XfHmayhaW6jiFxQE6

Slack Update 2

Banknifty moved higher and tried to enter YVA, Nifty was struggling to enter the YR. This is what we were waiting for to look for shorting opportunities, as the trend is decidedly down.

Image Nifty Market Profile 2 – https://goo.gl/photos/BiiSwSuWo3dPELJN8

Image Banknifty Market Profile 2 – https://goo.gl/photos/QNxiGUC7WpPeEDfDA

Slack Update 3

Sharing the screen shot of my option trade in Banknifty along with the OF chart and my logic in brief. Not to brag but just to show that I am a trader who shares whatever small knowledge I have accumulated over a period of 12+ years.

Image Nifty 3 – https://goo.gl/photos/MJXu8bb9xveHJzkW9

Image Banknifty Order Flow 3 – https://goo.gl/photos/S5wthrnrJrQDxYoo9

Closing Update

By the time we close we had a rally again similar to yesterday. Both indices have closed below the DHVN so the control still rests with the sellers.

How To Trade Nifty And Banknifty Tomorrow

Banknifty had a wide swing day. Nifty could not close inside IB range. The trend is still down and so is today’s VAP for both indices.

Image Nifty PAP – https://goo.gl/photos/wQwFhKV4VA59p7Uf8

Image Banknifty PAP – https://goo.gl/photos/buWv3wUfWWC11g2c7

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08-10-17 Market Profile Blog [Nifty Banknifty Stocks]

How Nifty And Banknifty Traded Today

Slack Update 1

We had a nice gap down in accordance with yesterdays weak close. But post this initial sign of weakness we saw prices forming an overlapping sideways range. That is a sign of poor continuation. Promptly we got a sharp rally as sellers could not maintain the initial control over the auction. We got a pull back alright but we need to monitor the quality of that attempt before we draw any conclusions.

Image Nifty 1 – https://goo.gl/photos/5NhnCN1ora9LvcY66

Image Banknifty Market Profile 1 – https://goo.gl/photos/J6vnDPNxs6KySzUE7

Slack Update 2

Markets could not find any acceptance inside YR. An attempt to enter YR failed as sellers used higher prices to establish short positions once again. The DL became important reference now. We need to monitor how the auction behaves around DL.

Image Nifty Market Profile 2 – https://goo.gl/photos/9HWBfMyNxbg5FAgx5

Image Banknifty Market Profile 2 – https://goo.gl/photos/TkNrcpVQ5ByEVRjE7

Slack Update 3

We did break below the DL. The sideways move around the DL turned out to be an absorption of demand and resulted in a sharp fall.

Image Nifty Market Profile 3 – https://goo.gl/photos/4vg8x6tpQPq8EnRX8

Image Banknifty Market Profile 3 – https://goo.gl/photos/jLNjSWFGykRrnj9G9

Closing Update

The close was interesting as markets recovered smartly in the closing hour. Now we have a good rejection at the lows. A buying tail which indicates that the auction went too far to find the buyers. Now the onus is on the buyers to scale references to the upside.

 

How To Trade Nifty And Banknifty Tomorrow

The trend is down a strong tail is not sufficient to change our view of the current trend. But the tail came at an important reference. 9880 on Nifty 24200 on Banknifty. Both were shared well in advance in yesterdays post. Whether the buyers from the IT support prices here and reverse the current ST down trend remains to be seen.

Image Nifty PAP – https://goo.gl/photos/F9ZSvbhSfXKrBgfM6

Image Banknifty PAP – https://goo.gl/photos/2vQX6sC2qhRCz2QP7

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08-09-17 Market Profile Blog [Nifty Banknifty Stocks]

How Nifty And Banknifty Traded Today

Slack Update 1

Both the indices gave a quick dip below the important references below and started consolidation around the important references. There was a potential for a FA but it was too early to tell.

Image Nifty 1 – https://goo.gl/photos/DPSPYTdeUQaUzayP6

Image Banknifty Market Profile 1 – https://goo.gl/photos/mFJ2cVk1o4KY5ZUM7

Slack Update 2

As the day progressed the consolidation just became more pronounced and prices went nowhere. This lack of follow through suggested that sellers were not able to force the auction down, aka SM was from the buy side.

Image Nifty Market Profile 2 – https://goo.gl/photos/QgHmXyXwzMvefYmb8

Image Banknifty Market Profile 2 – https://goo.gl/photos/rbgQ6BNLRZikjhMd7

Slack Update 3

SM has a habit of testing before they move the price. Another important feature of Sm is they wont stand in the way of the mob. SM let the price slide down below morning lows to test if there was any new business to be done in that direction. On finding no new business prices snapped back up.

Image Nifty Market Profile 3 – https://goo.gl/photos/SahsB5S9eRtQAWkJ9

Image Banknifty Market Profile 3 – https://goo.gl/photos/RZERsXenGtJ2TYgx8

Closing Update

Not surprisingly the snap back rally could not sustain above the ref mentioned on the slack 9966 on Nifty and 24550 on Banknifty. Hence we again came back to lows.

 

How To Trade Nifty And Banknifty Tomorrow

Close at the lows puts the auction in complete control of sellers. Anything other than lower prices and elongation will put a question mark on todays seller strength.

Image Nifty PAP – https://goo.gl/photos/ik8wSEXYCiBhAF6V8

Image Banknifty PAP – https://goo.gl/photos/zN53epLux2k2U9eJ6

Note: Nifty MT level is 9880 and Banknifty MT level is 24210.

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08-08-17 Market Profile Blog [Nifty Banknifty Stocks]

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How Nifty And Banknifty Traded Today

Slack Update 1

To confirm the whether a trend has changed on not we monitor the quality of the pull backs. One can observe both indices showing lack of elongation going into important references. Todays sharp down move is a testament to sellers defending those levels.

Image Nifty 1 – https://goo.gl/photos/wPECzYj195aPkyDp6

Image Banknifty Market Profile 1 – https://goo.gl/photos/BLxv9HJcjMsa6iqQ6

Slack Update 2

We had good rejection at the lows, suggesting buyers accepting those lower prices. Markets the started rallying but the shape developing was a nice ‘P’. I was looking for potential absorption from the lower balance marked on the chart. But markets stayed too long at those levels and buyers finally gave up. The sharp move down from morning did not let the pull back goo too high.

Image Nifty Market Profile 2 – https://goo.gl/photos/FVAQPBC5GDJczf956

Image Banknifty Market Profile 2 – https://goo.gl/photos/WdRvHguM3Ho4YWWx7

Slack Update 3

So SM came back to test the morning lows on Banknifty and we saw IPL developing on Nifty. This exhaustion to the downside resulted in a late spike up on Banknifty. We need to monitor how this attempt to rally fares. If buyers get new business then we will move up but if they fail to get any elongation to the upside we will fall down again.

Image Banknifty 3 – https://goo.gl/photos/XG4jhqsGBj6gf7xf6

Closing Update

After struggling to move up in the first half, markets eventually scaled down. Banknifty closed right at the lows and had the familiar ‘q’ shape going into an important support. Nifty on the other hand moved higher in first half and then conceded all the gains by the time it closed.

 

How To Trade Nifty And Banknifty Tomorrow

We have some exhaustion at the lows today. Can the sellers push through this or we have an inventory adjustment rally on our hands.

Image Nifty PAP – https://goo.gl/photos/voPX3WbmZ2qpS2KZA

Image Banknifty PAP – https://goo.gl/photos/BGKx5swjGBWhofqb8

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08-07-17 Market Profile Blog [Nifty Banknifty Stocks]

How Nifty And Banknifty Traded Today

Slack Update 1

Today we saw prices again finding resistances around 3rd Aug on Banknifty and YH on Nifty. Where as Nifty was finding resistance in the prior supply zone but Banknifty was finding resistance in prior rejection zone.

Image Nifty Market Profile 1 – https://goo.gl/photos/zuebWPYu2oiAFjvh8

Image Banknifty Market Profile 1 – https://goo.gl/photos/3KDbqHEymtG52xHNA

Slack Update 2

Nifty had multiple attempts to mark the prices down but no follow through down. Banknifty was looking like a ‘P’ and we also had an inventory adjustment break. Buyers had the responsibility to move the price up on both indices.

Image Nifty Market Profile 2 – https://goo.gl/photos/5Xvoi1qTBZ11CtDM7

Image Banknifty Market Profile 2 – https://goo.gl/photos/6aBX4YK8kNGSKYDV6

Slack Update 3

For aficionados here is a chart where you can spot delta divergence and trapped sellers at the same time.

Image Banknifty Order Flow 3 – https://goo.gl/photos/YP94qcwQAsTq3rLj6

Closing Update

Despite these tell tale signs of buyers taking control we did not get a good upside follow through. Both indices failed to takeout the morning high even.

 

How To Trade Nifty And Banknifty Tomorrow

This lack of continuation up resulted in a fall late in the day. Mostly due to buyers giving up. Now we have to monitor how the auction does tomorrow.

Image Nifty PAP – https://goo.gl/photos/JUmRqkamQtgyYh8J7

Image Banknifty PAP – https://goo.gl/photos/CirWZHnAdX3Y9mRq9

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