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  • Sagar Prakash

Market Profile Analysis for 07 MAY 2020


Hi Team,


Today also I don't have not much clarity in the profile, Market sentiment is slight Positive in #Banknifty. Open placement and price action give more clarity. If price open above 19830 and sustain one can look for long trade. Traders can plan a long trade if price shows OTD up or Open- low above PDH keeping SL below the low of the candle. This scenario will change if the price shows open -high or if price started trading below previous day range.

Need to see the price action around 18900,19280, 19830 &20005 are important levels for the day.

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Yesterday #BN opened Slight Imbalance at the open seller took the control and able to breach PDL and move the price till 18900 from there price took the support and buyer pitched in and moved the price swift back to PDL with decisive break later price went for side way for enter day took resistance near 19800 (Prev POC ) forming medium IB and ended up with neutral day upside.

VAH 19780

POC 19650

VAL 19460


Market sentiment is Slight Positive for #Banknifty

After looking Market profile chart for Nifty all the Imp parameters ( RE is POS , VA is neu, EX is Neu & TPO is pos )

Team,

Just Nifty Mys

www.justnifty.in

9886171897

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