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Nifty opened in the prev days Range, Quickly tested yPOC and rejected from there and went down. The low was quickly rejected from B period and then started balancing in CDEFG Period. We had found our balance and fairest price at this level. The balance then rejected in H period towards upside which suggested us the long bias, however needed confirmation. we did not trade in H period but placed to go long at 8320 near the POC of the balance. We entered in the L period and exited in M period near the VAH
Chart-1 is the Days Profile
Chart -2 is the Split Profile showing the Balance in CDEFG
I trade ES in the US. However also have a passion to understand the Nifty. I see you use Ninja. Is there a way to get l2 or l3 data for nifty into ninjatrader without actually trading or having a brokerage account. I want to see what kind of l2 or l3 data and info available on tape from a order flow perspective for nifty. Any thoughts?
Unfortunately, Indian mkts are not so developed and there is less demand of l2,l3 data. The only provider is NSE which charges heavy to afford any data vendor. I don't know about e-signal but they claim to have l2 data for Indian Mkts, However when my friend tried he found that it was not available in e-signal.
Currently we use best bid ask on order flow, so that we can see the traded volume on each point. The usage of the OF is restricted due to poor data availability and hence i mostly depend on MP.
