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  • Sagar Prakash

Market Profile Analysis for 05 MAY 202



Hi Team,

Today I have Bearish to sideways view, Market sentiment is Negative in #Banknifty. I f price open below 19500 and sustain one can look for short trade.


Traders can plan a Short trade if price shows OTD down or Open- High below PDL keeping SL below the above of the candle. This scenario will change if the price shows open -Low or if price started trading above previous day range.

Need to see the price action around 19500,19676 & 19995 are important levels for the day. **************************************************************************************************************

As expected yesterday #BN opened highly Imbalance (Huge gap down) because of global weakness, from the open sellers took the control and able to clear the all odds in the Market which is created by short term buyers. Around 19800 buyer tried to pitch in and again they failed to sellers took the control.later IB got broke and sellers took control and moved the price further down forming Big IB and ended up with Normal day down side achieving both Targets.


Interesting to see the today's price action around demand zone 19500 levels

VAH 20300

POC 19870

VAL 19760

Market sentiment is Negative for #Banknifty

After looking Market profile chart for Nifty all the Imp parameters ( RE is Neg , VA is neg, EX is neg )


Team,

Just Nifty Mys

www.justnifty.in

9886171897

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