Derivative Data & Market profile based Nifty & BankNifty day trading levels are:( 14th Jan )
NIFTY:
EOD Stock Optiom,Fut and cash market data is showing consolidated day.
Index chain is showing that if we open near today's close or high then this then we may see smaller buying first then 2nd action in market for some consolidation.
Below are Market profile based Imp levels:
supports
14570,14505,14380
res 14660, above this need to check price acceptance during live market.
Banknifty:
If you see opening around today's spot close which is near 32574, then at open time you may see further buying of 100+ points
Rest it is expiry day, some short of consolidation may be there if we do not see all time high breakout.
Today's Derivative data were neutral to slightly positive but profit booking booking may also be there. No clear cut indication in case of neutral open.
Market Profile(fut) levels are:
Buying range 32200-32340
or above 32511 buying area
or above 32800
Note: These are my personal view and high probable levels, these are not trading tips.
If I find something high convicted then will comment in our channel during live market.
Regards: Neetesh Pathak
SEBI Reg. Research Analyst
Full time trader, Fund Manager