Month: June 2012

I didn't get a chance to pen down levels for the USDINR chart, where 56.50 was marked as an important level in the future in my last post here – https://www.vtrender.com/content/usdinr-july

Hopefully many of our readers who follow Viren would have gathered the information from this tweet here : https://twitter.com/VirenRasquinia/status/218575076277231616

57.45 HVN and 56.45 is LVN + vwap for the rise.56.01 easy tgt below 56.45.

The market did 56.04 as an easy move below 56.45.

OrderFlow was short at 57.19 yesterday.

I’ve highlighted a small area in this chart below, but the original chart can be found here : https://www.vtrender.com/content/composite-and-orderflow

And here is the updated chart as of the close of trading on Fri day 28th June.

Now mark these words from the post made on 8th June, a full 14 sessions back.- https://www.vtrender.com/content/composite-and-orderflow

The green composite picture on the right is the cumulative volumes in the Nifty as it has traded in the 5600- 4500 zone.

4860 below had the largest volumes and the next big one is at 5205 which should be the next resistance for this move,

I feel that the market can stay in this 200 point band for the rest of the month as it requires trading volumes.

4970 on the lower side and 5212 on the higher side should be the range the market should consolidate in.

There’s no better study which can give you an insight in price behavior than the study of volumes.

Markets do not trend all the time and areas of consolidation in low volume pockets are a traders worst nighmare.Such zones can be easily found out through a study of volumes as a trending move ends in a balancing one and such areas meet the requirement of the SteidlMayer distribution theory as the market tries to move towards efficiency.

The move from 4770 to 5194 represents the first imbalance followed by a balancing act which the market ha been doing over this month.

Using the principles of the SteidlMayer distribution the balance zone roughly between 4990 and 5190 when broken out of will give us another trending move or a period of imbalance as we like to call it.

My last post on the subject is here- https://www.vtrender.com/content/nifty-profile-0

In that post we had seen the market coming back to the POC at 5117 since it got slammed down by the news from RBI.

The updated chart shows the NF taking the entire week to repair the single prints from Monday immediately after the announcement.

This is a bullish development as it shows that the seller from Monday was neutralized gradually.

Today was an inside day in the NF but a look at the structure of today ( extreme right profile) shows the distribution in the upper half of yesterday's move and in the thin part of the profile.It gain points to a strength building exercise.

The day was a neutral day with a close at the upper end of the range. We always keep an eye out for neutral days especially the ones which are coupled with an inside day built in.

On a week-on-week basis, little was changed.

The purple line running through the centre of the 2 profiles is the POC or point of control. It's been flat for the past 15 days now.

Once again it shows how the option writers have a big hold on the market.. The writers of the 5100 pair have been the biggest winners of this week.

That chart is here : https://vtrender.com/sites/default/files/Vt_gold.png

Here is the updated chart showing the Gold future tagging exactly the level mentioned.

The chart is locked between an HVN above and a LVN below. A sideways move may continue.