Market profile Analysis for 12th June 2019
Today we are Bullish in #Nifty above 11970. If Price started trading below 11970 then my view was negated.
As expected, Nifty open above Value and within Rang, price open high above value and took support previous day POC sellers got trapped later price moved upside and broke the IB upside and took resistance at important level 12000 and ended up formed medium IB and ended up with forming NV day upside.
Need to see the price action around important level 11859, 11906, 11973, 11960 & 12000. #Nifty may open around 11950-11970.
Nifty Market Profile Values
Market sentiment is Positive for #Nifty.
After looking Market profile chart for Nifty all the Imp parameters ( RE is Pos , VA is Pos, & 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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