The nifty continue to onetime frame up. However volume was lower on Friday and the gap up open was rejected back into Friday's range immediately. Nifty seems as if it needs to be balanced.
1 & 2 - Double Distribution. The lower distribution is overlapping with the Thursdays VA. This is a balance zone and breakout from this balance is next trading opportunity.
3. Single Prints and intra-day pull back high. This is a key reference point for Monday.
4. Selling tail, another key reference point for Monday
There is a poor low on Friday. A repair and pullback into Friday's range should be kept in mind while taking a break down trade. Also we have a previous excess high at 5608 which is significant now.
1 & 2 - Double Distribution. The lower distribution is overlapping with the Thursdays VA. This is a balance zone and breakout from this balance is next trading opportunity.
3. Single Prints and intra-day pull back high. This is a key reference point for Monday.
4. Selling tail, another key reference point for Monday
There is a poor low on Friday. A repair and pullback into Friday's range should be kept in mind while taking a break down trade. Also we have a previous excess high at 5608 which is significant now.
Hi,
ReplyDeleteYour post almost covers all points from profile charts..very helpful.
Plz if possible mark Anomaly.
Hope u try to post it regularly