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…..

How Nifty and Banknifty traded today?

Slack Update 1

Opened outside of YR on Banknifty, traded back inside YR. Found support at YPOC. Buyers defended and sent the price out of YR. We also could spot some absorption above YH suggesting continuation higher.

Nifty opened outside YT and stayed out and continued higher. That was a strong opening. The inside bar in E period was an early sign of potential weakness coming into the markets.

Nifty Market Profile Chart
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Slack Update 2

The absorption in banknifty did give higher price, but once again we had an inside bar suggesting lack of follow through to this absorption of supply by buyers.

Nifty formed consecutive inside bars, suggesting supply coming in at subsequently higher prices. Such exhaustion is likely to result in some sort of inventory adjustment falls in the markets.

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Slack Update 3

Whereas Banknifty hit the Range Estimation Technique Target, Nifty order flow chart was showing some trapped buyers. Both suggested at least a temporary cap on the upside.

nifty order flow chart
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Slack Update 4

Both the indices came down as a result of the exhaustion we discussed above. Prices tried to enter YR on both indices but buyers defended YH.

This opens up a retest of DH.

Nifty Market Profile Chart
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Closing Update

While Nifty did close above morning highs and near the DH Banknifty closed near the VAH. Both indices suggest that buyers were interested going into close. Whether this late buying spills over into tomorrows session remains to be seen.

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How to trade Nifty and Banknifty tomorrow?

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Nifty has given a strong close but it also looks like a ‘P’+spike pattern. So 9640 is an imp ref for a potential ‘P’+spike to happen.

Banknifty is also a ‘P’ and needs to find acc above 23400 for higher prices.

banknifty potential auction paths [PAP]
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Todays Video


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