The Nifty and the banknifty opened as an OAOR and created value higher in the day. Volume became sluggish later in the afternoon as both indices coiled in a very thin range on reducing volumes. The auction at the close suggested a pause and caution on the path of both the long and the short view. It was clear that old business, as well as new business, was waiting for a clear path to emerge late in the session.
I like to work with a plan and a top-down approach to the market. A yearly and monthly outlook is updated on the blog.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-9th-july-to-13th-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 OAOR
- The day type was a Normal Variation day
- Largest volume was traded at 10858 F today
- Vwap of the session was at 10844 with volumes of 62.4 L in a session which traded a High-Low range of 10866-10801 for 64 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 support at 10715 F for now.
- Zone of supply would be at 10860 F
Daily Zones:
- Value zones ( volume profile) are at 10863-10858-10838 for tomorrow
Plan :
a) support at 10815 and 10844 looks good and established now
b)likely path above 10860 is to 10902 and 10920 tom
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 OAOR
- The Day type was a Normal Variation day
- Vwap of the day was at 26690 with Volumes of 24.4 L and a High – Low of 26740-26602 for a range of 133 points.
- Largest Volume was traded at 26713 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 26560 zone is now a support
- The old seller at 26800 is still very active.
- The 26320 zone is a support
Daily Zones:
- Value zones ( volume profile) are at 26737-26713-26662 for tomorrow
Plan :
a) Bullish above 27720 roughly for continuation to 26800
b) 26620 is a good support
c) 26520-40 is the next layer of support below 26620.
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