Market profile Analysis for 10th June 2019
Today we are sight Bullish in #Nifty above 11875. If Price started trading below 11875 then my view was negated. As expected on Friday, Nifty open within Range and price broke the PDH and price break Successfully and price tested the 11800 level and buyers took the control the from there, this show the rejection in lower level and formed medium IB and ended up with forming neutral day in Nifty. Need to see the price action around important level 11839, 11864, 11880, 11910, 11930 & 11960. #Nifty may open around 11920-11940.
Nifty Market Profile Values
Market sentiment is Slight Positive for #Nifty. After looking Market profile chart for Nifty all the Imp parameters ( RE is Pos , VA is Neg, & EX is Pos )
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.
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