Nifty Futures – Market Profile Analysis

Nifty is trading on the verge of higher timeframe stop trigger zone. Contra players can argue that one can bet on longs with stop loss as current or previous swing low at 10055-10075 levels. But for most of the long position 10055-10075 zone could be a reference point for exit/reversal point. Last 4 days of trading session nifty is balancing in a broader 10075-10250 range.

Interestingly put writers at 10000PE and 10100PE are holding for this series. Both market profile sentiment and indicator sentiment now in sync and maintains in negative mode again. Volatility is largely mutued for this week and still 4 more days left for this expiry. Immediate resistance coming around 10187 and current swing low at 10075 is unsecured low so far. And Yet another day stops got built below 10100 reference

Trading Scenario

one have to maintain shorts if the is a follow through in price action below weaker ORR levels with immediate resistance at 10187. Short covering and temporary reversal isagainn a possibility if nifty sustains above 10187

Related Readings and Observations

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