HDFCBank - Inventory Analysis using Market Profile - 14 Aug 2024
Hope you all are well and HDFCBank is showing signs of inventory accumulated around 1600. In this video i am sharing my process, how i use TradingView's inbuild TPO - Market Profile and Volume Profile indicators to understand the inventory development and how smart money is accumulating their positions in this stock.
Target 1 is 1650, followed by 1700 and the gap fill above 1700, and looking to acquire positions till 1500 in this stock.
This is a long term stock where Market Profile is helping me to understand how positions are being created based on the transactions that are happening.
Disclaimer: Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, do not forget to hit like and follow me, and please do share your thoughts in below comment box, as your response will help me strengthen my market understanding.
Thank you.
- 1600 is the line in sand and there are less transactions happening below 1600 - Question you should ask is why?
- Price is nicely chopping in a 1 month range of 30 points
- Below 1600 is where i am looking for responsive buying
Target 1 is 1650, followed by 1700 and the gap fill above 1700, and looking to acquire positions till 1500 in this stock.
This is a long term stock where Market Profile is helping me to understand how positions are being created based on the transactions that are happening.
Disclaimer: Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, do not forget to hit like and follow me, and please do share your thoughts in below comment box, as your response will help me strengthen my market understanding.
Thank you.
Note
Target 1 - 1650 reached today - 30 Aug 2024Note
1670 reached on 16 Sept 2024Note
1700 achieved on 18 Sept 2024
Studying inventory using technical tools like market profile, volume profile and others. Scalping ES & BNF Futures.
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