Market Profile Analysis for 06 MAY 2020

Hi Team,

Today I have not much clarity in the profile, Market sentiment is slight negative in #Banknifty. Open placement and price action give more clarity. If price open below and sustain below 19150 one can look for short trade.

Need to see the price action around 19150,19340 & 19500 are important levels for the day.

As expected yesterday #BN opened balanced buyer took control in opening and price got rejected from 20098 which is ppoc, and unable to sustain above the single print zone(20000), from there price started movie sideways to downside, from PDL buyer took control and again price got rejected from the open price and seller took control and able to break PDL moved the price further down forming medium IB and ended up with neutral extreme day down side.

Interesting to see the today's price action around demand zone 19150 levels

VAH 19940

POC 19760

VAL 19580

Market sentiment is Slight Negative for #Banknifty

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

Team,

Just Nifty Mys

www.justnifty.in

9886171897