Do you want to trade Nifty Share Price and Banknifty Share Price like Smart Money does? Then you are at the right place because I’m going to show the best  way to analyse trade volatile markets like Nifty and Banknifty plus a few extra’s.

 

But before that lets go through the standard disclaimer – Derivatives Trading involves substantial risk of loss therefore is not suitable for all investors. Past Performance is not necessarily indicative future results. All information shared here is for educational purpose only. – Read Full Disclaimer

First see…..

Yesterdays Missed Report

Nifty and Banknifty both could not take out yesterdays high. This development looked like a ‘P’ if we combine the spike from 19th and yesterdays narrow development. Inability of the markets to trade above high of 19th did not speak well about trade facilitation at higher levels.

How Nifty and Banknifty traded today?

Slack Update 1

Banknifty opened lower and started developing value lower. The range was narrow but since the open was outside YR, there was a chance of a directional move later in the day.

Nifty too opened GAP Down. And moved sharply lower. Rejected lower levels and then started developing within the initial balance.

Nifty market Profile
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Slack Update 2

Later Banknifty started developing into a small ‘P’ shape. The rejection lower was being held at higher levels. There was a chance of test of demand lower, since we were getting exhausted trying to enter YR.

Nifty was consolidating below an imp HVN. An attempt to take it out gave us a Intraday Poor High. That is a sign of exhaustion. And an inventory adjustment was expected.

The order flow charts were inconclusive. Only Nifty showed a stop hunt at the bottom and lot of trapped sellers.

nifty order flow chart
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banknifty market profile chart
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banknifty order flow chart
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Slack Update 3

Prices did slide on account of inventory adjustment. but found buyers in the morning area of rejection. Once this test was done the stage was set for buyers to show their strength.

banknifty market profile chart
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Closing Update

Although the buyers were in firm control the profile shape today looks like a ‘d’. Where as Nifty looks like it is absorbing morning supply, Banknifty looks more like a conventional ‘P’.

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How to trade Nifty and Banknifty tomorrow?

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Nifty has a poor high above and late part of the profile looks like absorption. So we may target the HVN above and the PH.

Banknifty looks like a ‘d’ and is likely to test buyer commitment at 23634 and then take further course of action.

nifty potential auction paths [PAP]
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Todays Video


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