An open auction within the range of Friday’s profile saw a sudden spike down at the close and a test of demand at the VPOC from 24/08. It started with the initiative selling at 11735 and picked as the Nifty broke 11690, a level most participants had expected to hold. There is a trapped buyer near 11690 but towards the clsoe, we saw a lot of demand entering the market. Spike rules apply at the Open and the lack of sell-side pressure should create a bounce as long as the index trades above 11610 roughly. However, on the higher side, there are now 3 supply points at 11687, 11706 and the big one at 11735. It will be difficult for the index to make a bigger move above 11735F and consolidation still remains the theme.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-03rd-sept-to-07th-sept-spot-prices/
Nifty Sept F:
- The NF Open was an Open auction
- The day type was a Normal variation day
- Largest volume was traded at 11760 F today
- Vwap of the session was at 11720 with volumes of 80.2 L in a session which traded a High-Low range of 11775-11620 for 155 points
Monthly Zones:
- The vwap of the Aug series is at 11444 spot and the POC was at 11480
- The settlement day (Aug ) rollover volume point is at 11739 F.
- Highest Rollover point was at 11772 Sept F
Weekly Zones :
- Immediate support at 11630F for now.
- Spike zone is 11620 to 11720F.
- the second zone of support is at 11580
- The auction objective if 11790 is crossed is at 11885-11910.
Daily Zones:
- Value zones ( volume profile) are at 11771-11756-11687 for tomorrow
Plan :
a) The auction has support at 11610
b) the second zone of support is at 11590
c) the objective of the rise is at 11690
For tradeable ideas on these hypos and to check the OrderFlow live visit the trading room.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout
BNF Sept F:
- The BNF Open was an Open auction
- The Day type was a Normal Variation day
- Vwap of the day was at 28161 with Volumes of 25.6 L and a High – Low of 28300-27961 for a range of 338 points.
- Largest Volume was traded at 28160 F today
Monthly Zones :
- The vwap of Aug series is at 27923 spot with POC of 28280
- The settlement day rollover volume point (aug) is at 28232 F.
- Highest Rollover point was at 28232 Sept F
Weekly Zones :
- The 28000 is now a support
- spike zone is 27960- 28130.
- The 27830 zone is a lower support
- supply still dominant near 28450-28476
Daily Zones:
- Value zones ( volume profile) are at 28215-28160-28100 for tomorrow
Plan :
a) The 28080 zone is a support
b) supply still prevalent at 28356.
For tradeable ideas on these hypos and to check the OrderFlow Live visit the trading room.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout