Monday was a gap up in the Nifty and the BankNifty and a slow probe up on reducing volumes for the rest of the Opening hour. However, volume turned sluggish midday and a probe by sellers in the last hour managed to erase most of the gains made during the day. The auction looks locked and uncertain in the 10740- 10840 F zone for the next 2 sessions but if sellers are unable to push it below 10740 and below the path looks upwards t0 a 10920 F revisit.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-fo-the-week-dated-11th-june-to-15th-june-spot-prices/
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 June F:
- The NF Open was an Open drive up on poor volumes
- The day type was a Normal variation day
- Largest volume was traded at 10785 F today
- Vwap of the session was at 10804 with volumes of 71.5 L in a session which traded a High-Low range of 10835-10761 for 73 points.
Monthly Zones:
- The vwap of the May series is at 10669 spot and the POC is at 10736.
- The settlement day rollover volume point is at 10692 F and 10705 F.
- The vwap of April series was at 10419 spot
- The POC of April series was at 10556 spot
- The settlement day rollover volume point of April series was at 10632-10603 F.
Weekly Zones :
- The auction has moved into a new bracket between 10660 on the lower side and 10840 higher
- An 8-day mini composite range is 10750- 10550F.
- Immediate support lower at 10660 F for now.
- The second layer of Support lower at 10570 F now
- Overcoming supply at 10840 can push the index higher to 10923 again.
Daily Zones:
- Value zones ( volume profile) are at 10815-10785-10780 for tomorrow
Plan :
a) If 10785 is held near the open watch for a move to 10810 and 10835 again
b) some selling to watch for again at 10835 F
c) below 10760 the Nifty can drop to 10735 and 10710
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 June F:
- The BNF Open was an Open drive up on
- The Day type was a Normal day
- Vwap of the day was at 26374 with Volumes of 33.1 L and a High – Low of 26488-26282 for a range of 205 points.
- Largest Volume was traded at 26345 F today
Monthly Zones :
- The vwap of May series is at 26091 spot with POC of 25744
- The settlement day rollover volume point is at 26750-26770 F.
- The vwap of Apr series was at 25010 spot with POC of 25050
- The settlement day rollover volume point of April was at 25035 F.
Weekly Zones :
- Immediate supply for BNF is at 26770 F
- If it sustains above this can push to 27000 and 27300 F again
Daily Zones:
- Value zones ( volume profile) are at 26650-26572-26517 for tomorrow
Plan :
a) Holding below 26570 BNF can drop to 26400 and 26340 again.
b)below 26320 can drop to 26265
c) above 26635 can move to 26810.
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