The Nifty and the Banknifty put in an OTD which ensured that the auction of Monday was completely reversed and the close at the higher end. With a down move on Monday and an upmove on Tuesday, we look to be headed to the formation of a new balance in the zone. PLR ( path of least resistance) however remains up
A weekly outlook was updated on Saturday at –https://vtrender.com/weekly-outlook-for-the-week-dated-16th-july-to-20th-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 11023 F today
- Vwap of the session was at 10984 with volumes of 88.8 L in a session which traded a High-Low range of 11035-10938 for 98 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 11034-11023-10974 for tomorrow
Plan :
a) 11046-11055 zone has supply and should be watched for responsive selling
b) 11009 is a good support
c) second support at 10974
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 OAIR
- The Day type was a Normal Variation day
- Vwap of the day was at 26904 with Volumes of 32.8 L and a High – Low of 27113-26689 for a range of 424 points.
- Largest Volume was traded at 26845 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 26780 zone is now a support
Daily Zones:
- Value zones ( volume profile) are at 26987-26845-26790 for tomorrow
Plan :
a) supply looks to be firm around 27140
b) support is at 26910
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