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You are not really tape reading. What you have there is 1 tick + volume, this is very different from trades hitting the ask vs trades hitting the bid. From your chart, it's impossible to differentiate between trades hitting the bid/ask.
As has been said - people placing market orders are only part of the equation. Size will normally have a reaction and often it won't. Tape reading is not a 'snapshot' activity - you are looking at changes over time, an individual tick means nothing.
If you see 1000 at ask, uptick, 1000 at ask, uptick, 1000 at ask, uptick, 10,000 at ask, up tick - what does that tell you? That there are more buyers? Nope. It tells you that the guys sitting on the offer with limit orders are becoming more aggressive. Depending on the market, this may be significant.
1.As I said earlier, I've marked the block trades as red (at bid),green(at ask) and black(inside bid & ask). Please let me know if some more information is needed.
2.It seems that the sellers are luring in buyers by pulling the asks. Am I correct?
3. Please tell the names of good books/websites or any other useful resource where I can learn tape reading.
Lastly,please present your analysis based on my chart. If you need more resources/data for that purpose, please let me know.
I can't help you with what to look for in this case, as I don't base entries on block trades I see on T&S.
Why do you want to learn it so badly? Have you tried other methods and failed? I keep T&S up, but I don't center my trading around it because I feel that it's too difficult, especially in a market which has very high volume. If your tape shows 90 rows, then if a large order comes in, you will never even see the orders. I like to see if a large number of orders comes in and price doesn't move, for example--I find this helpful, but do not make primary trading decisions based off of that.
For modern-day computer age trading, I don't know any. Wyckoff has a book, "Studies in Tape Reading," but in his day he would see prints occur every few minutes, or seconds in a very fast stock, not milliseconds like today. There is a tape reading pdf/video that has the word "BS" in it, I'm sure you can find it if you look, but I wouldn't pay much for it, it's not very helpful to me personally, but then again I never put that much effort into watching it as it's based mostly on trading bonds.
Can you post a 5 minute chart of the stock for that same day, with volume at the bottom?
Yes, I will make some annotations either late this afternoon or when I get home tonight, I'm walking out the door in 5 minutes right now. I don't trade stocks, bear in mind, much less that stock, so I don't know how useful my chart will be.