The supply we had seen yesterday was overpowered by another round of responsive buying near 10680 early in the IB and the Nifty managed a trade above 10720 subsequently to finish at session highs. The day was again a Normal Variation day.
I’m speaking in depth on using MarketProfile the correct way in Hyderabad on July 7th. Details at – https://vtrender.com/marketprofile-in-hyderabad/
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-02nd-july-to-6th-july/
It is the same MarketProfile view working for a 1- 5 day period on the Nifty and the BankNifty spot without worrying about the movement of the premium which is a sticky issue now.
Nifty July F:
- The NF Open was an Open drive down
- The day type was a Normal variation day
- Largest volume was traded at 10770 F today
- Vwap of the session was at 10720 with volumes of 82.4 L in a session which traded a High-Low range of 10776-10671 for 105 points.
Monthly Zones:
- The vwap of June series is at 10737 spot
- The POC of June series was at 10760 spot
- The vwap of the May series was at 10669 spot and the POC was at 10736.
- The settlement day rollover volume point is at 10572 F.
Weekly Zones :
- Immediate supply at 10770 F for now.
- Second zone of supply would be at 10860 F
- The first layer of Support lower at 10570 F now
Daily Zones:
- Value zones ( volume profile) are at 10776-10770-10705 for tomorrow
Plan :
a)Pivot near 10782 which is the VPOC
b)Holding above 10783 attempts may be made to go up to 10806 and 10846
c) Below 10780 the NF can drop to 10737 and 10717 for a restest of wed buyers
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 July F:
- The BNF Open was an Open test drive
- The Day type was a Normal Variation day
- Vwap of the day was at 26270 with Volumes of 37.7 L and a High – Low of 26467-26121 for a range of 346 points.
- Largest Volume was traded at 26440 F today
Monthly Zones :
- The vwap of June series is at 26522 spot
- The POC of June series was at 26544 spot
- The vwap of May series was at 26091 spot with POC of 25744
- The settlement day rollover volume point is at 26217 F.
Weekly Zones :
- The 26470 zone was broken and is now a supply
- The old seller at 26800 is still very active.
Daily Zones:
- Value zones ( volume profile) are at 26466-26440-26205 for tomorrow
Plan :
a) Holding below 26510 the auction may attempt a move down to 26350 again
b) above 26555, shorts can be pushed over for 26675 and 26770.
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