The Prime Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
Broader Market of Thursday : A neutral extreme ( NE) day with a close at one end of the profile. A continuation is a bullish set up after a NE day.The Net orderflow was a positive 2.136 over yesterday’s 1.018
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from yesterday :
1) BN had an inside day
2) The 9435-9475 zone from the charts of yesterday was auctioned into and the market covered the profile which was previously ir-regular.
3) A move above day high can give a gap fill trade to 9625 and beyond that 9800 is possible.
Today’s charts :
1) gap at 9625 was covered today
2) spike into the close ( Rules for spikes in the NF chart below)
3) Upper re4sistance seen at 9800/ 10025
4) 9475 region should be an initial support
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chart speak from yesterday :
1) Inside day in NF too
2) a break above the day’s range can target 5018
Today’s charts :
1) NF fell short of 5018 by 18 points.
2) spike into the close ( details on charts)
3) support seen at 4975 then at 4935
Broader Market of Thursday : A neutral extreme ( NE) day with a close at one end of the profile. A continuation is a bullish set up after a NE day.The Net orderflow was a positive 2.136 over yesterday’s 1.018
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from yesterday :
1) BN had an inside day
2) The 9435-9475 zone from the charts of yesterday was auctioned into and the market covered the profile which was previously ir-regular.
3) A move above day high can give a gap fill trade to 9625 and beyond that 9800 is possible.
Today’s charts :
1) gap at 9625 was covered today
2) spike into the close ( Rules for spikes in the NF chart below)
3) Upper re4sistance seen at 9800/ 10025
4) 9475 region should be an initial support
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chart speak from yesterday :
1) Inside day in NF too
2) a break above the day’s range can target 5018
Today’s charts :
1) NF fell short of 5018 by 18 points.
2) spike into the close ( details on charts)
3) support seen at 4975 then at 4935
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