The open of the morning was a test drive to check out the previous day’s POC, to see if their was any unfinished agenda there.
Price was quick to reject the lower value and orderflow confirmed a long at 9.45 which was valid right upto day highs !
As expected in the later part of the day and posted in my view on thursday, the rotation between 5955-5990 happened in the later part of the day. My last post on the subject of rotation is here
The Nifty future has to defend 5944 tomorrow for an upmove above 5990 to materialize. The target in that case would be 6070.
The bank Nifty was resisted at 11440, which was pointed out by Girish in the trading room as support from 26/11.
After two unsuccessful attempts, the Bank Nifty took the path of least resistance which in it’s case was downward.
In the process the BN put in an inside day today, which will call for a large move either tomorrow or day after.
The orderflow of the Nifty future is here :
