Market Profile Analysis dated 9th August

Nifty Aug F:  11123 [ 11187 / 11068 ] Previous report ended with this ‘The auction has left an extension handle at 10948 and has a huge spike to 11088 with immediate support at 11054-40 zone with the PLR (Path of Least Resistance) to the upside for the 1 ATR move of 11147 from that negated FA of 10993’ and NF opened with a gap up & stayed above previous day’s range to give a OTF (One Time Frame) move higher for the first half of the day leaving a buying tail from 11097 to 11063 in the IB (Initial Balance)…

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Weekly charts (5th to 9th August) and Market Profile Analysis

Nifty Spot Weekly Profile (5th to 9th August) 11109 [ 11181 / 10782 ] Nifty opened the week with a big gap down of 100 points and fell by another 100 inside the IB (Initial Balance) on Monday but confirmed a FA (Failed Auction) at lows of 10782 indicating that the imbalance to the downside could be coming to an end. The auction then made a balance for the next 3 days before spiking higher into the close on Thursday as it left a weekly extension handle at 11018 and almost tagged the 2 ATR objective of 11062 from the…

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