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

Banknifty opened inside YR and buyers got exhausted around YH. The auction then started moving down to find buyers.

On Nifty we got the ‘P’+spike above the 9640 levels. The spike suggested buyers were not interested in higher prices and the sellers now had responsibility to extend the range down.

banknifty market profile chart
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Slack Update 2

Sellers extended the range lower on Banknifty, but again formed a ‘b’.

Whereas on nifty we could not go much lower that the YPOC and YHVN.

banknifty market profile chart
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This alerted us to the fact that sellers were not doing a particularly good job on either indices.

The order flow charts also showed a lot of selling and potential stop hunt in the ‘b’+spike pattern. This negated the morning weakness.

nifty order flow chart
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Slack Update 3

We did get some good follow through higher. But Banknifty stalled in yesterdays LUA and started balancing there. A sign of potential sign of absorption of supply coming at that zone.

Nifty despite lackluster performance by the sellers could not tag DH.

Closing Update

 

The close was right at the POC for both the indices. So basically the auction is not yet sure which side to pick. We have weak refs above on both indices and some signs of rejection of lower levels. That tilts the scale slightly in favor of buyers.

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How to trade Nifty and Banknifty tomorrow?

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Nifty and Banknifty closed at the POC, suggesting the auction was balanced going into close. It looks more like indecision than anything. Probably the long holiday going on in the US causing the markets to shift to wait and watch mode. Lets see how it reacts when the international markets return to normalcy.

nifty potential auction path [PAP]
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Todays Video

 

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