Analysis 8th May – Market Profile

We gave 6 stocks to trade @8AM today Morning in our telegram channel.

Today’s performance of trade was little shabby as I have missed few points while trading I am sorry guys. But still we covered all the losses we made in the first two trade by reverse trading. Following is the analysis and my thinking while I was trading. I used to post these charts live when I trade in Telegram. So join my telegram channel to know how I visualize the market using Market profile and Volume Profile

I am available in DISCORD Channel for discussion

Each image will speak for itself

MOTHERSUMI

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We missed May 7th HVN while trading which made me to enter short . But the candle reversed exactly @ yesterday HVN perfectly and hit our SL. We again entered for long to cover out losses. The stock had good support from two days HVn and it went up 4 rs. I exited and found that the stock is getting rejected from YHVN @345 which was very strong with huge volume it had good distribution over there. We shorted again to fully capitalize the movement.

DALMIABHARAT

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We shorted the DALMIABHARAT after the price has breached the resistance but suddenly the price was marked up by sellers to flush buyers and test for buyers. They successfully flushed and resisted the price @ Yesterday HVN 2870,  We shorted again and covered all losses and booked nearly 30 rs. I also said the down fall will exist till 2817 in slack because the 2817 is a strong Virgin Value area high of March 13. As there is no support in between the price gave a good fall. If the sellers has not marked up the price then it would have been a great trade.

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Thanks

Team FIG

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