The Power Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here. A market below PP0 and moving lower is a weak market intraday and vice versa.
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 Thursady :A normal distribution with range extension on both sides not followed through
Bank Nifty :
– responsive buying from 11175 which is the POC of the balanced profile from 29/6
– 11195-11175 single prints will support the market.
Nifty :
– 5620 represents a failed auction point.
– spike into he close between 5660-5668
– acceptance above the spike high will be bullish.
SBI :
– SBI shows poor highs at 2440 which needs to be repaired.
– single print buying between 2392-2400 at the open.
RIL :
– a balanced distribution in the area of previous single prints.
– 907 is resistance.
LT :
– LT had a spike into the close between 1832-1840
– accepatnce above the spike high will be bullish
ICICI Bank :
– AN NV day in ICICI where the bias moved lower during intra day
Tata Motors :
– Single print seller off the open at 988.
– 960 prominent POC can support
—————-
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 Thursady :A normal distribution with range extension on both sides not followed through
Bank Nifty :
– responsive buying from 11175 which is the POC of the balanced profile from 29/6
– 11195-11175 single prints will support the market.
Nifty :
– 5620 represents a failed auction point.
– spike into he close between 5660-5668
– acceptance above the spike high will be bullish.
SBI :
– SBI shows poor highs at 2440 which needs to be repaired.
– single print buying between 2392-2400 at the open.
RIL :
– a balanced distribution in the area of previous single prints.
– 907 is resistance.
LT :
– LT had a spike into the close between 1832-1840
– accepatnce above the spike high will be bullish
ICICI Bank :
– AN NV day in ICICI where the bias moved lower during intra day
Tata Motors :
– Single print seller off the open at 988.
– 960 prominent POC can support
—————-
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