Market Profile Analysis for 18th Jan 2021
Today Market sentiment is Negative, 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. One should look for price action around 32320 important level if any rejection from above level I will look for short side. 32330 is important level for Sellers they need to defend this above level. Open placement and IB will give more clarity will keep you posted any further changes in market condition.
Important level need to watch 32330, 32507, 32040 & 31860 are the important level need to monitor