Remember this golden rule in Market Profile: the more time price spends inside the previous day's VA, the stickier it tends to get.
Look at NIFTY today. It was spending way too much time inside yesterday's VA. That's not a subtle hint; that's a loudspeaker screaming in your ears: NO LONGS.
@NCIBHQ Good one, it works on the same principle the way speakers work and it isn't new one, the only problem with that is that instrument has to be near to the fire to pu it out which isn't practical in most cases.
Some gentleman whose eyes were glued to 23,000 has now arrived saying, “I also called 23K, and I also predicted today’s downmove.” Congratulations, sir.
But here’s the difference: I’m an intraday trader. I change my views as price gives me new references. Today, NIFTY has been comfortably accepted inside yesterday’s VA. Ignoring that evidence just to stay loyal to yesterday’s view isn’t conviction; it’s stubbornness dressed up as analysis.
The market doesn’t pay you for being right yesterday. It pays you for reading what it’s telling you today.
Good put writing is emerging at lower levels, but the follow-through remains key. If NIFTY sustains above 22,600, 23,000 Fut could come into play by tmrw.
So, the funds getting unblocked today due to non-allotment in Jio Platforms IPO are expected to lift the market. Cute.
But where exactly was all this money before the IPO?
NIFTY is at a 2-year demand zone. I know the chart looks weak, If you're planning to short here, at least wait for the market to give you a reason. Don't make it too easy for the bulls.
NIFTY is at a 2-year demand zone. I know the chart looks weak, If you're planning to short here, at least wait for the market to give you a reason. Don't make it too easy for the bulls.
Market isn’t moving because you guys aren’t keeping enough stop-losses. Guys, please keep some stop-losses so the market has something to hunt and finally starts moving.
Good put writing is emerging at lower levels, but the follow-through remains key. If NIFTY sustains above 22,600, 23,000 Fut could come into play by tmrw.
Good put writing is emerging at lower levels, but the follow-through remains key. If NIFTY sustains above 22,600, 23,000 Fut could come into play by tmrw.