I have a flexible view on #NIFTY today, and open auction is very crucial for entire day.
I am expecting price opening around 11900 level and most importantly price acceptance is crucial at this point. Read the complete analysis for more info…
10715,10770,10880 and 10935 levels are crucial for the day.
We witnessed an open drive formation in last session but bulls have taken complete control and able to close the price above 10760. this shows the decisiveness of buyers however, the overall trade facilitation is still not in the support of bulls. hence I have a flexible view today. Price acceptance above 11935 is very much essential to to expect any bullish movements.
And open auction is extremely crucial for the day (Specially first 30 min auction). If price able to accept the gap up for at least 30 min then I will look for bullish opportunities, else if there is immediate rejection in the open the odds of ORR is quite high in such cases.
Value is widened and it indicates there will be a big swings in the markets, Hence flexibility and proper position sizing is very important.
There is not much clarity in #BANKNIFTY , However open auction is very crucial here as well.
27390 is the significant level for #BANKNIFTY today.
26920, 27250 and 27390 levels are crucial for the day.
TRADE PLAN :
#NIFTY: I don’t have any plans for open buy trades. In case there is an immediate rejection with clear conviction by bears i will look for shorting opportunities in the open. acceptance above 11935 is very much essential to to expect any bullish movements so for any bullish opportunities i will wait for price acceptance.
#BANKNIFTY: I don’t have open trades plan here, However if there is good reward-able trades after the formation of open range then i may plan any trades in #BANKNIFTY.
Note: Volatility is shooting up significantly and this is when the big money is made. Position sizing and Risk management are the keys.
MARKET PROFILE VALUES:
Flexibility and patience are the keys in today’s trading session.
(Above information is my view of looking the markets and
there is nothing called Right or wrong in these dynamic markets,
Respect the risk, manage the money and plan your trades then approach with discipline)