Well, the nifty futures remains one time faming up. However an excess formation may be underway. Inside day and Balanced Day. Volume is lower. A bracket formation is underway.
When u see a balanced profile, usually the asymmetric trade opportunity is breakout from balance. There is good probability that we had a short term excess on 1/7, but it is not a strong one.
1. Single prints, coincides more or less with the single prints from previous day. Upward breakout should be traded with extreme caution. Observe volume for clues of breakout failure.
2. Poor Low from previous day not repaired. We carry forward this information.
There is an anomaly on the shorter time frame profile chart. This area coincides with the single prints discussed in 1. So this level may be a strong resistance point and day high may be formed around this level.
If market opens higher and volume is not coming, then nifty will be attracted back to the prominent POC 5665. Same is true for a lower opening also.
When u see a balanced profile, usually the asymmetric trade opportunity is breakout from balance. There is good probability that we had a short term excess on 1/7, but it is not a strong one.
1. Single prints, coincides more or less with the single prints from previous day. Upward breakout should be traded with extreme caution. Observe volume for clues of breakout failure.
2. Poor Low from previous day not repaired. We carry forward this information.
There is an anomaly on the shorter time frame profile chart. This area coincides with the single prints discussed in 1. So this level may be a strong resistance point and day high may be formed around this level.
If market opens higher and volume is not coming, then nifty will be attracted back to the prominent POC 5665. Same is true for a lower opening also.
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