Perspective : A normal distribution on Friday created a spike into the close, as the market failed to hold the 5702 level.Acceptance below the spike lows is a bearish continuation
Back Ground : A conventional 3 I day market profile asserted itself as a strong seller showed at the open. We mentioned 5702 as support, which broke down after a rally from that point of about 40 points earlier in the day.The result was that the market closed at it's lows.
Chart Speak :
- open drive down on a 3 I day ( O on top of d)
- larger distribution in the zone of the single prints of yesterday
- spike into the close from 5700-5658
- acceptance below the spike lows on Monday is bearish
- support is at 5638, the base of the previous single print buying
- auction zone can be between 5640-5673 or 5673-5705.
The above post is for purpose of education only. Similar charts are posted for the BN, LT, RIL, ICICI, TTM, SBIN everyday on our premium website http://www.vtrender-2.com
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