#NIFTY #VSA Review on the 12th March

. Today it seemed that the strength was indeed returning to the Market. We saw a above average spread up Bar closing at the top. However the volume was just about average.  The overall market also showed more buying pressure than selling pressure. The overall market volume also remained just average. Now the index is back into the trading range.  The strength that was seen today lacks credibility as indicated by the mediocre volume. We need to wait and see what happens in the next few sessions to confirm if the strength has indeed returned to the market. More sideways moves or in other words more ranging is expected. Any big uptrend is ruled out for the present and neither any big downside is expected.

#NIFTY #VSA Review for the week ending on the 9th of March.

 Last week end we expected the market to show some strength provided nothing crawls out of the banking mess.  More news regarding the PNB scam sent the market down. Let us do some bar by bar analysis for some lessons in VSA.  It was on the 6^th we saw the market go down based on news and breaking the previous support to seek new lows. We saw a wide spread Bar closing at the low. (Bar marked “A”).  But the volume was just about average. Clearly the selling was not huge as indicated by the volume. The weakness was indeed limited. The next Bar (Marked “B”) was a down Bar closing down and the volume increased. However the spread was narrow. The increased volume could not push the index down much. Clearly there was strength in this Bar. This strength manifested in the next Bar, marked “C”.  The Bar “C” was an up Bar closing on the top. The spread was about average and the volume also just above average.  The lower tail of the Bar which was much more than the body of the Bar indicates that selling was still present.  The strength seen in the “C” Bar was mediocre and almost disappeared in the next Bar. The next Bar (marked “D”) opened above the previous Bar but closed slightly down. The spread was narrow and the volume was low. It is difficult to classify such bar as “No Demand” or “No Supply” bar.  This was more of a “disinterest bar” as neither the buyers nor the sellers showed much interest. But the down side seems limited.  The coming week could see more lack luster trading days till some real strength comes in.

#NIFTY #VSA Review of the Market for the week ending 1-3-18.

 As expected the Index has been moving sideways.  The overall Market has been also moving almost in sync with the Index.  Good consolidation is going on in the market. The price rejection level for the index is 10585 and the price support level is 10360.  The declines in the market have been at lower volumes. When we look at the wave chart the Buy waves seem to be gaining strength. The Sell waves has not been able move the index much. This is typically seen towards the latter half of consolidation ranges as the accumulation drains supply.  We could see some more accumulation including a possible shakeout. The coming week is likely to see some strength because of the northeast election results unless we see another scam  crawl out of the mess called Banking.