Mkt is still in balance..waiting.

Before the last hour got underway, we were seriously looking at a close above value high , which would have given the buyer a small foot in the door to reverse the large downtrend we have been witness too.

The news driven last 30 minutes sell-off destroyed the balance developing in both the Nifty and the Bank Nifty in terms of market structure.

But a closer look at the weekly action so far in both indices reveals this :

Nifty :



Bank Nifty :



I last commented on the importance of balance in this post made on 26th Jan and also an earlier post

The action can be compared to a similar one between 5640 and 5840 earlier.In both cases the movement is random which can be frustrating if you are looking for a directional move in the market.

The balanced profile tells us that buyers and sellers are accepting the new price for auction and generally one can expect two way movements in the market during this period.

Also the profiler is on the watch-out for initiative activity out of the balance zone which are highly profitable trade set-ups.

To close, here is the updated Order Flow from the morning :

Nifty :



Reliance :



SBI :