The auction on thursday drove lower at the open and was noticeable at the end of C period that there was no new supply coming into the market. The BankNifty made new lows below C but it had more to do with the Thurs Opex than anything else. The path of least resistance remains upwards and the Nifty objective of 11660F above 11505 on shorter-term charts is still good.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-20th-to-24th-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 rejection reverse
- The day type was a Normal variation day
- Largest volume was traded at 11577 F today
- Vwap of the session was at 11580 with volumes of 65.5 L in a session which traded a High-Low range of 11622-11553 for 69 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 11350/ 11395 for now.
- The vwap of trend up on 03/08 at 11360 is also a support
- Supply could come back higher at 11660 F next.
Daily Zones:
- Value zones ( volume profile) are at 11588-11577-11573 for tomorrow
Plan :
a) The auction has support at 11551
b) the second zone of support is at 11500
c) supply expected higher for intraday at 11613 and 11627 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 28130 with Volumes of 32.2 L and a High – Low of 28336-28016 for a range of 320 points.
- Largest Volume was traded at 28110 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 27760 is now a support
- The vwap of trend up on 03/08 at 27670 is also a support
Daily Zones:
- Value zones ( volume profile) are at 28155-28110-28045 for tomorrow
Plan :
a) The 28010 zone is a support
b) supply expected to be back at 28210 and 28330
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