Market Profile Analysis for 18th June 2019
Today we have Bearish in #Nifty below 11727. If Price started trading above 11727 then my view was negated.
Yesterday Nifty open above above Value within Range which indicates slight imbalance, at open price sellers are able to break PDL successfully. At one point of time buyer showed interest and took the control around 11750, but the failed to continue the momentum. This show the Sellers are aggressive in selling at this level. After formation Ib sellers are able to break IB low successfully ended up with medium IB and forming NV day upside.
Need to see the price action around important level 11640, 11708, 11735 & 1177.
Open price will give some more clarity.
#Nifty may open flat around 11690-11720.
Nifty Market Profile Values VAH 11765
Market sentiment is Negative for #Nifty.
After looking Market profile chart for Nifty all the Imp parameters ( RE is Neg , VA is Neg, & EX is Neg 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.
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