The markets trended lower today and well below the 10740 and 10725 levels seen yesterday and in the auctions before catching dip buyers and existing long inventory off guard and forcing lows of 10651 in the day. Near the close heavy volume was transacted at 10676 June Futures which could be the pivot for a move tomorrow either down to 10596 for settlement or back upto 10750 and 10790.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-25th-june-to-29th-june/
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 auction which drove lower from B period
- The day type was a Trend day
- Largest volume was traded at 10676 F today
- Vwap of the session was at 10703 with volumes of 136.3 L in a session which traded a High-Low range of 10769-10651 for 118 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 June series is at 10744 spot
- The POC of June series was at 10812 spot
Weekly Zones :
- Immediate resistance at 10750 F for now.
- The second layer of Support lower at 10640 F now
Daily Zones:
- Value zones ( volume profile) are at 10722-10676-10657 for tomorrow
Plan :
a) auction pivot at 10676 for tomorrow
b)sustaining below 10670 can drop it down to 10636 and 10595
c) sustaining above 10676 for 10712 and 10753
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 auction which trended lower from B
- The Day type was a Double Distribution day
- Vwap of the day was at 26447 with Volumes of 43.2 L and a High – Low of 26598-26321 for a range of 276 points.
- Largest Volume was traded at 26430 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 June series is at 26533 spot with POC of 26544
Weekly Zones :
- The 26470 zone was broken today and is now a supply
- The 26260 zone have repeatedly shown demand
- The old seller at 26800 is still very active.
Daily Zones:
- Value zones ( volume profile) are at 26497-26428-26332 for tomorrow
Plan :
a) auction likely to be weak below 26530 tomorrow
b) an upmove to 26530 can meet long liquidation
c) below 26330 the auction can do 26240
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