Here is a live case study in Bank Nifty which explains the season behavior which provides exponential odds when comes to trading bank nifty. This tutorial explains how to understand the market generated information presented in Bank Nifty and how to convert that information into trading odds.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”3″ ihc_mb_template=”1″]Before getting into the market profile charts let me quickly narrate the trading sentiment which is going on. Worldwide global markets are selling on because of the trade war issues. And Indian market too on the sell side for the last four trading session since Monday post the GDP announcement
However, if you look into the structure of Bank Nifty it tells you a completely different story. They observations are 4 back to back prominent POC in a row which indicates a potential short-term players getting short to too short. And at the swing high there is a ORR (Open Rejected Reverse) which is weak it is weak because of not a strong rejection even it is coming at major swing high.
First of all the formation of 4 back to back prominent POC is very rare and seasonal. Last time it is observed in Nifty Futures during Oct 2017
The odds are there that all the Prominent POC are likely to clear with a possible stop hunting towards ORR levels above 27000. Expecting these things to happen less than a week or so.
How to Prepare?
1)Go and Play the Strength of the Buyers (Requires high buyers confidence)
2)Go and Play the Weakness of the Sellers (Requires low sellers confidence)
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