Nifty attempted to trade above the multi day bracket, but failed and came back into the bracket. Jan 25 th's double distribution may get completed today. Seems time has reached for the next phase.
The plan was to trade the open assuming a bracketing market. Which scenario will unfold at open ? You can get clues from the open. All these scenarios require immediate rejection from reference point. Open auction to complete the double distribution is marked with red curve. In this case fade the extremes where the distribution is expected to develop. Today's volatility linked SL is 11 points. The green line is POC and the red lines around the green line is VA.
The plan was to trade the open assuming a bracketing market. Which scenario will unfold at open ? You can get clues from the open. All these scenarios require immediate rejection from reference point. Open auction to complete the double distribution is marked with red curve. In this case fade the extremes where the distribution is expected to develop. Today's volatility linked SL is 11 points. The green line is POC and the red lines around the green line is VA.
Thanks Sir,
ReplyDeleteI am trying to learn MP and your analysis is an excellent eye opener for me. Really appreciate your effort to post your views everyday....
Please do keep up the good work...!
Linkon, Nice to c u
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