Our reference level of 4887 will come into play and be a decider for moves in the Nifty.
Trend is 4825-4887 for the day. However a cross over above 4887 can bring 4925-4955.
Trade accordingly.
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10.32
4887 is the pivot around which most of the action has occurred in the past one hour.It's tricky call for a short term ( intra-day ) direction at these levels as we can clearly see two- time frame activity in the markets today.
So we'll watch. No point trading when you are not clear.
I have a meeting lined up in the afternoon, so I will be away for the afternoon session.
Viren and myself are compiling some educational material on Market Profile.We have decided against putting up an open link for the material, but will be happy to offer it to interested people on request. Those interested can send me a mail on vtrender@gmail.com with 'Market Profile' in the subject line.
Also Viren has suggested that he will author a weekly newsletter on Market profile strategies for Nifty futures and options ranging one week to a month. Those interested in receiving a copy from him can send a mail at the same ID as above with 'newsletter' in the subject line.
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12.00
Bias has turned up for the day above 4887 and with a stop below 4870.
Friday, May 21, 2010
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8 comments:
Shai it crossed 4887 did U consider to go long now?
hi shai
good morning.
thanks for the levels
Mok,
GM.
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Musti,
Levels need to be watched with vol. didn't sustain above
Dear Shai - waiting for some write up on volume and price which you had mentioned yesterday - Best regards Deepak
Perfect timing... great... 20 point raise in nifty
S(j)ai and Vir(u)en
done send me basanti(nifty) and dhanu(mp)
rest jai r u looking fr Gabbar(comaptive analysis) these days
Hei manu, you are ahead of me here :), but look above, i am already there ...:)
Shai, nice idea, both compilation of MP, as well the mode of delivery ...
I will send a request formally over mail.
Thanks in advance.
This is one real indicator without lag.
Thanks for bringing it, shai
I wil send viren a thank note.
have a nice weekend
dear shai
plz send the newsletter to me also and reading material regarding MP
thanx
saurabh
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