This chart is posted on Vtrender- 2 every evening after the market closes.
Some other observations about yesterday's auction :
Thursday's charts :
1) A normal variation day with bias going to the seller for day time control.
2) Auction still at the upper end of the previous 4900-5060 bracket.
3) A balanced profile to describe the day
4) the balanced profile breakout can project a 180 point move
5) exit of range n value is the better trading approach.
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4 comments:
can you please provide some details about your comment
"An exit of value n range will set up lucrative trade"
thanks
smit,
We found the market to be in balance at the close yesterday, hence pointed out that it would revolve around 5100.
Above VAH the buyer is in control. Hence the most lucrative position would have been to remain a buyer above day VAH which was at 5122.
What are your thoughts wrt to the failed auction near 5000?
My Life My Trade,
We give a failed auction revisit upto 5 days to play out.
Friday was day 2.One of the things we like to look out for is price acceptance below value low during the day.
It it does not revisit, then current auction is considered very strong.
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