The Power Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
Whilst using the OrderFlow charts, it is necessary to book profits at each of the levels mentioned. Thus a BUY signal can be booked at the closest PR1, PR2, PR3 with every preceding level becoming a stop loss for the existing order. Depending on how the smaller OF reacts , one can re-initiate the booked order
All levels are taken from that excel sheet. We will discuss auction theory, role of buyers and sellers and market structure in these next few lines.
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Tuesday:A normal day
Bank Nifty :
– Profile shows single print selling from 10815 to 10765
– 10440 to 10510 is longer time frame support
————-
– A fat thick profile with a prominent POC at 10820
– selling prints from past 2 days have been erased
– 11000 and 10730 are the VPOC’s immediately
Nifty :
– The market showed responsive buying/ short covering with minor single prints near 5450
– the single prints from 5438 to 5414 are the biggest support to the market now.
– Minor selling prints also near 5518 at the open
———–
– A DD and a failed auction were the highlight of the day
– Failed auction at 5437 NF
– the upper distribution zone between 5510 and the single prints at 5478 will be in focus.
———-
– a balanced distribution with POC at 5516
– Mkt is being accepted back into the previous balance area
SBI :
————
– SBI had a fairly normal distribution with poc at 2234
– a normal distribution for second day today, with the bulk of the volume above yesterday’s poc
RIL :
——-
– RIL was stuck today again between 964 HVN and 947 single prints
– there’s an easy 10-17 points either side to 979 or 930 intra day or in 2 sessions
————
– RIL showed a single print seller at 941 near the open
– poor lows at 925 will invite a revisit to 925
– HVN at 915 to be watched on downside
———-
– RIL hit the HVN of 915 and consolidated
LT :
——————-
– LT had poor highs but high volume near the top
– 1740 represents the top of the recent 4 day trading range
– single print buyers at base of profile for the 4th day in a row would indicate that a break up upside is imminent
———–
– Large vol at Thurs close turned out to be sellers and upside breakout did not materialize
– The structure of friday is weak and the market can retrace right upto POC 1719
– 1673 is an HVN which is good support
———————-
– LT had a DD and a failed auction
– upper distribution between 1717 and 1700
————
– LT is again at top of the bracket near 1740 where it met sellers previously.
– single prints btw 1725 and 1718
ICICI Bank :
– Larger Profile is still balanced in ICICI
Tata Motors :
– TTM showed a normal distribution and a double inside day
———–
– TTM had a b shaped profile after coming out of 3 day balance.
– an auction below today’s lows will invite more sellers.
Whilst using the OrderFlow charts, it is necessary to book profits at each of the levels mentioned. Thus a BUY signal can be booked at the closest PR1, PR2, PR3 with every preceding level becoming a stop loss for the existing order. Depending on how the smaller OF reacts , one can re-initiate the booked order
All levels are taken from that excel sheet. We will discuss auction theory, role of buyers and sellers and market structure in these next few lines.
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Tuesday:A normal day
Bank Nifty :
– Profile shows single print selling from 10815 to 10765
– 10440 to 10510 is longer time frame support
————-
– A fat thick profile with a prominent POC at 10820
– selling prints from past 2 days have been erased
– 11000 and 10730 are the VPOC’s immediately
Nifty :
– The market showed responsive buying/ short covering with minor single prints near 5450
– the single prints from 5438 to 5414 are the biggest support to the market now.
– Minor selling prints also near 5518 at the open
———–
– A DD and a failed auction were the highlight of the day
– Failed auction at 5437 NF
– the upper distribution zone between 5510 and the single prints at 5478 will be in focus.
———-
– a balanced distribution with POC at 5516
– Mkt is being accepted back into the previous balance area
SBI :
————
– SBI had a fairly normal distribution with poc at 2234
– a normal distribution for second day today, with the bulk of the volume above yesterday’s poc
RIL :
——-
– RIL was stuck today again between 964 HVN and 947 single prints
– there’s an easy 10-17 points either side to 979 or 930 intra day or in 2 sessions
————
– RIL showed a single print seller at 941 near the open
– poor lows at 925 will invite a revisit to 925
– HVN at 915 to be watched on downside
———-
– RIL hit the HVN of 915 and consolidated
LT :
——————-
– LT had poor highs but high volume near the top
– 1740 represents the top of the recent 4 day trading range
– single print buyers at base of profile for the 4th day in a row would indicate that a break up upside is imminent
———–
– Large vol at Thurs close turned out to be sellers and upside breakout did not materialize
– The structure of friday is weak and the market can retrace right upto POC 1719
– 1673 is an HVN which is good support
———————-
– LT had a DD and a failed auction
– upper distribution between 1717 and 1700
————
– LT is again at top of the bracket near 1740 where it met sellers previously.
– single prints btw 1725 and 1718
ICICI Bank :
– Larger Profile is still balanced in ICICI
Tata Motors :
– TTM showed a normal distribution and a double inside day
———–
– TTM had a b shaped profile after coming out of 3 day balance.
– an auction below today’s lows will invite more sellers.
[learn_press_profile]