Market Profile Analysis for 26th July 2019
Today we have Bearish view in #Nifty below 11296 if price started trading above 11296 my view is negated.
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.
As expected yesterday #Nifty opened Slight imbalance with providing OTD Up, moved strongly upside and started consolidating below the important reference level, sellers are strong enough to reject the price and again moves against and successfully able to break the initial extreme, this shows It was ORR (Open rejection reverse) drive with clear decisiveness of sellers presented from the important level, this kind of open has a lower conviction and easily indicates 2 sided price auction within previous day Range and forming medium IB and ended up with neutral central day.
#Nifty may open around 11320-11280.
Nifty Market Profile Values
Market sentiment is Slight Negative for #Nifty.
After looking Market profile chart for Nifty all the Imp parameters ( RE is Neg , VA is Neu, EX is neu & TPO is neg
Just Nifty Mys