Market Profile Analysis for 9th July 2019
Today we can expect have Sideways to Down move in #Nifty below 11700. If price started trading below 11700 then my view is negated.
Yesterday Nifty gap down and open below Range, with Open high and sellers able took the control from the open and able to break 11735 level successfully and ended with trend day in negative side.
As yesterday and they before yesterday there was huge fall market will halt for some days high probability of Sideways.
Need to see the price action around important level 11400, 11575, 11635 & 11700.
Today I don't have any plans to opt for open auction trade.
Range would be 11700 to 11500. Key is apply mean reversion technique only in case of balanced open.
#Nifty may open around 11570-11545.
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 Neg.
Just Nifty Mys