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S&P CNX NIFTY INDEX FUTURESS&P CNX NIFTY INDEX FUTURESS&P CNX NIFTY INDEX FUTURES

S&P CNX NIFTY INDEX FUTURES

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NIFTY1! trade ideas

NF volume profile levels....NF 3rd day of OTF up on daily charts. Last 2 days we had a composite P shape profile with VPOC skew. Bulls needed a gap or drive with this VPOC to stay higher. Today they got that gap up open to stay higher above PDH. It was an early short covering profile in making. When such short covering ( P profile ) breaks VWAP its time for liquidation. This happened in NF today around 12:15 when we broke the VWAP, the destination is to close the gap and then test the composite P references. Once gap got closed tested composite P profile VPOC at 19430 and closed as a neutral extreme down day. Today was all day balance and liquidation started in J period, so VPOC stayed higher making a 45 degree profile With this 45 degree Profile, sellers need to build value in the late extension to continue on the downside. Buyers on the other hand need in the next session quickly reject this late extension and test todays VPOC at the top
NSE:NIFTY1!
by tradeprosm