Market Profile Analysis for 8th July 2019
Today we are Bearish in #Nifty below 11900. If price started trading below 11900 then my view is negated.
Yesterday Nifty open above value and within Range, Nifty unable to maintain the imbalanced this shows absence of buyers and came to balanced area. As market is was waiting for News so it formed small IB, after the out come of the News nifty broke the IB and ended up with trend day in negative side reaching our target.
Need to see the price action around important level 11900, 11870, 11790 & 1170.
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.
#Nifty may open around 11970-11950.
Nifty Market Profile Values
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 Neu & TPO Pos.
Just Nifty Mys