Interesting Development happening in Bank Nifty Futures on the daily charts. Bank Nifty Futures had broken the 15 days of consolidation movement with a strong breakout and also close below the bottom of the consolidation zone 18760. This post is to analyze whether the breakout is really strong or not. Market Sentiment is really negative and the last fridays sentiment continued on monday as well.
For many people price by itself not a key factor while making a purchase decision. No one will be buy a house or mobile phone just because of the price tag. Most of us understand the value (i.e offerings, features, benefits) before making any purchase decision and not solely based on product price. While making a purchase decision price is one of several variables which attracts buyers to evaluate when they mentally assess a product’s overall value.
Understanding who is dominating the market on a given day gives fair advantage and plays a crucial role in deciding trading strategy and executing the strategy at the better price. When the market participants behavior changes one can continually readjust his strategy and change his/her tactics depending upon who is in control.
Tradezilla is India’s first ever exclusive and intensive ever online trading mentorship program for budding traders. Event will focus on providing quality information to Traders, developing dynamic thinking ability , self sustaining under complex market conditions and ability to separate trading signal from the noise.
Welcome to Market Profile Series. In the last tutorial we seen Excess High and Excess Low. In this tutorial we will be seeing couple of examples on Halfback Reference. Halfback generally refers mid point of the previous days profile (prev days (H+L)/2). Halfback is a Weaker intraday reference or shorter timeframe reference where the weak day timeframe or shorter term timeframe traders are entering at that point mechanically at that reference level exactly or 1-tpo above/below halfback reference level.
Nifty Opened below previous day value area. We are attempting towards the previous weak high at 7794 zone. Twice my attempt ended in a failure and lost (net 61 points in Nifty futures). Initially we attempted for a mechanical buying reference at prev day low but later the mechanical buying reference taken out as market came down.
Nifty Daily Profile 1)Nifty Opened with a Gap up outside the previous days range. And cleared the Prominent POC at 7794 in the first few seconds after open. On the downside it cleared the Prominent POC reference zone – 7741. 2)The Opening Confidence was good. we thought of Open Test Drive initially but then later […]