The Nifty put in an Open auction and the BankNifty was an open drive up which formed a P shaped profile. The auction consolidated on the gains made on Friday and the path of least resistance still remains up. Our intraday supply zone of Nifty gave the expected pullback as mentioned in the analysis made after the close of the session dated Friday.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-6th-aug-to-10th-aug/
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 Aug F:
- The NF Open was an Open auction
- The day type was a Normal Variation day
- Largest volume was traded at 11414 F today
- Vwap of the session was at 11416 with volumes of 47.4 L in a session which traded a High-Low range of 11447-11386 for 60 points.
Monthly Zones:
- The vwap of the July series is at 10900 spot and the POC was at 10967
- The settlement day rollover volume point is at 11156 F.
Weekly Zones :
- Immediate support at 11301 and 11155 F for now.
- Supply expected near 11440- 11455 during the week
Daily Zones:
- Value zones ( volume profile) are at 11426-11414-11404 for tomorrow
Plan :
a) The auction has support at 11350
b) Buy dips to 11355
c) supply expected higher for intraday at 11435-11455 on any probe higher
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 Drive
- The Day type was a normal variation day
- Vwap of the day was at 27960 with Volumes of 23.1 L and a High – Low of 28020-27825 for a range of 195 points.
- Largest Volume was traded at 27960 F today
Monthly Zones :
- The vwap of July series is at 26738 spot with POC of 26910
- The settlement day rollover volume point is at 27436 F.
Weekly Zones :
- The 27330 and 27450 zone is now a support
- The vwap of trend up on 26/07 at 27313 is also a support
- Supply expected higher near 26940
Daily Zones:
- Value zones ( volume profile) are at 27992-27930-27940 for tomorrow
Plan :
a) The 27900 zone is a support
b) supply expected to be back near 28090
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