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
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.