The Nifty was neutral extreme at the close yesterday. This morning opened in range but once IB was done found acceptance and value below the neutral extreme of yesterday which was an indication it itself that the bias had moved to a short. In the afternoon session we saw a Large Lot trader at 11470 who attempted to push the index back up again. The ensuing bounce from a low of 11437 to a high of 11531 measured 94 points and was the biggest one ahead of the one from 11578 to 11649 which measured 71 points and we saw on Friday. Quite clearly the trend is down from the 11775 highs of Monday and we have dropped 336 points in the Nifty already. Today the VPOC at 11440 was tested and as long as that VPOC holds we could see the formation of a balance between 11440 and 11550. In the BankNifty we dropped below Aug lows but 27320F put in a sharp bounce of 260 points to 27580F.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-03rd-sept-to-07th-sept-spot-prices/
The support at 11620 has failed in the index and the next support is near 11480.
Nifty Sept F:
- The NF Open was an Open test drive
- The day type was a Normal variation day
- Largest volume was traded at 11470 F today
- Vwap of the session was at 11500 with volumes of 125.7 L in a session which traded a High-Low range of 11579-11437 for 142 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 :
- Spike zone is 11620 to 11720F.
- the second zone of support is at 11490
Daily Zones:
- Value zones ( volume profile) are at 11530-11470-11450 for tomorrow
Plan :
a) The responsive buyer at 11470 to provide support
b) short is right below 11470 for 11420 and 11340
c) the 11565- 11580 zone may throw supply again.
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 test drive
- The Day type was a Normal Variation day
- Vwap of the day was at 27470 with Volumes of 42.2 L and a High – Low of 27650-27307 for a range of 342 points.
- Largest Volume was traded at 27550 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 :
- spike zone is 27960- 28130.
- supply still dominant near 28450-28476
- supply expected back at 27850 and 27960
Daily Zones:
- Value zones ( volume profile) are at 27560-27540-27390 for tomorrow
Plan :
a) The 27420 zone is a support
b)short is right below 27420 for 27300 again
c) 27630 expected to show higher supply
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