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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 Market Profile 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 Order Flow 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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