Profile charts for 20th June

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 Friday
: A normal variation day with a range extension on the lower side

Bank Nifty :

Bank Nifty Mp241 Profile Charts For 20Th June




– A seller at the open again at 10780-10835
– Prominent POC ( price) at 10750

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– A large b shaped profile which rectified much of the poor structure from yesterday
– A buyer at the open who held his position at 10535
– Responsive sellers from near 10750 the previous POC
– single prints 10795-10740
————–
– An inside day in the BN with a normal distribution in the value area of 16/6
– break of value will set-up a high probability trade on Monday
-single prints at 10535-10565 and 10695-10735 needs to be monitored on break of value
– prominent POC at 10750 remains



Nifty :

Nifty Mp8 Profile Charts For 20Th June


– The 3 I day concept was valid again until 2.30 as lows of the day were maintained
– Mkt rectified the poor lows of yesterday and stayed below the FA point for the most part
– large prominent POC at 5416-20 will be critical tomorrow
————
– A large b shaped profile would indicate longs liquidation
– selling prints at 5424-5400
– poor lows at 5360 need to be revisited
– HVN at 5346 is the last support



SBI :

Sbi Mp8 Profile Charts For 20Th June

– Larger monthly trend is sideways
– lows at 2170 inviting short covering on 25/5, 26/5 and recently on 16/6.
– HVN of bal profile at 2244 is resistance to upside moves
– single prints between 2190-2170
– An inside day
– Break of value can set up a good trade to be monitored at the HVN and single prints




RIL :

Ril Mp9 Profile Charts For 20Th June



– High volumes at close near 905
– poor structure below 915
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– A normal distribution below yesterday’s lows
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– RIL will continue to be weak below those heavy volumes at 906
– We are waiting for sideways distribution ( step 2) to confirm a pause in the downtrend from 960.
– single prints 895-885
– a spike into the close
– acceptance below the spike will be a new auction.



LT :

Lt Mp9 Profile Charts For 20Th June


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– LT is again at top of the bracket near 1740 where it met sellers previously.
– single prints btw 1725 and 1718
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– LT had a spike into the close
– failed auction point of 1681 got revisited today
– acceptance below the spike low and the HVN of 1673 will be bearish
————-
– LT established value lower than 16/6
– A breakdown below 1673 was averted by responsive buying at the lows.
– The possibility of LT moving down to 1638 is still possible if it trades below the single prints & the HVN at 1673


ICICI Bank :

Icici Mp9 Profile Charts For 20Th June

– Larger monthly trend is still sideways
– An inside day sepnt in the value of 16/6
– break of value and then range will set up a good intra day trade




Tata Motors :

Tata Motors61 Profile Charts For 20Th June

– Tata Motors shows a sideways to a down trend
– Double inside day on friday

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