Market Profile Analysis for 4th July 2019
Today also we are bullish in #Nifty above 11945. If price started trading below 11945 then my view is negated.
Yesterday Nifty open above Range, but in open itself initiative failed to maintain imbalance this shows the clear absence of the initiative buyers. but seller unable to defeat to 11925 this was very important level. this indicates that sellers are not interested in that price. Formed small IB and ended up with non trend day. Probability of trend day by today or tomorrow.
Need to see the price action around important level 11975, 11948, 11925 & 11900
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.
#Nifty may open around 11970-11950.
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 Pos, EX is Neu & TPO Pos.
Just Nifty Mys