A gap up forced short covering and a P shaped profile emerged later in the day as bears tried to push back in the second half of the session. Along with the 10920 of yesterday, the bulls have managed another strong support at 11000 today along with the 10966 zone from yesterday which should keep the buyers interested as the auction moves ahead. Today’s early upmove was through short covering.
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 OTD
- The day type was a Normal variation day
- Largest volume was traded at 11054 F today
- Vwap of the session was at 11032 with volumes of 95.7 L in a session which traded a High-Low range of 11069-10976 for 93 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 10850F for now.
Daily Zones:
- Value zones ( volume profile) are at 11065-11054-11020 for tomorrow
Plan :
a) 11046-11055 has thrown up supply today
b) 11000 is a good support
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 OD
- The Day type was a Normal Variation day
- Vwap of the day was at 27053 with Volumes of 38.1 L and a High – Low of 27153-26873 for a range of 280 points.
- Largest Volume was traded at 27040 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 26677 zone is now a support
- The 26320 zone is a support
Daily Zones:
- Value zones ( volume profile) are at 27130-27040-27010 for tomorrow
Plan :
a) supply looks to be firm around 27140 and 27110
b) support is at 26993
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