The Prime Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
You can set a notification to update you as soon as the sheet is edited within the page itself.
The most important number to watch in the sheet is Prime Point Zero or (PP0) which is the level where the market is neutral for the day.A market below PP0 and moving lower is a weak market intraday and vice versa.
Whilst using the Order Flow 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
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Monday: A double distribution day with a incomplete upper structure.We consider a DD as 2 separate auctions and look to the next session for acceptance or rejection of either or both.
Bank Nifty :
Back Ground :
– support for the week is at 11180 and resistance at 11526
Chart Speak :
– A DD with single prints at 11345 separating the 2 auctions.
– Below 11345 rotaion to the POC’s at 11285/ 11275 is certain.
– upside target can be 11491 above VAH 11400.
Nifty :
Background :
– support for the week is at 5536 and resistance may be seen at 5742
Chart speak :
– An incomplete DD with single prints at 5661 separating the two auctions.
– Below 5661, poc at 5643 will be visited.
– resistance seen at the HVN of 5730.
SBI :
Back Ground
– A sideways POC for the past 5 days
– support for the week is at 2454 and resistance at 2532
Chart Speak :
– Open test drive created value higher than friday
– Value area 2518-2498 will be an important ref point.
RIL :
BackGround :
– 907 is resistance.
– RIL shows a single print seller at 910
– profile is irregular with another seller at 880
– support should come near 849 HVN during the week
– responsive buying near 845 seen.
Chart Speak :
– Open drive down ( o on top of d)
– Failed Auction at 879 ( day 0)
LT :
BackGround
– a sideways moving profile
– 1838 is resistance for the week and 1791 is support
Chart speak :
– Large single print buying after the p shape seen on friday
– profile has projected a barcket breakout.
– Target for the upmove in this week remains at 1885 above 1862
ICICI Bank :
Back Ground :
– a sideways moving profile
– region around 1058 is balance area currently
Chart Speak :
– ICICI still in a bracket with a seller at 1084
Tata Motors :
Back Ground :
– support for the week is 977 and resistance will be at 1030
Chart speak :
– TTM had another p shaped profile.
– Narrow value area btw 1008-1002 will be a ref point for tomorrow.
You can set a notification to update you as soon as the sheet is edited within the page itself.
The most important number to watch in the sheet is Prime Point Zero or (PP0) which is the level where the market is neutral for the day.A market below PP0 and moving lower is a weak market intraday and vice versa.
Whilst using the Order Flow 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
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Monday: A double distribution day with a incomplete upper structure.We consider a DD as 2 separate auctions and look to the next session for acceptance or rejection of either or both.
Bank Nifty :
Back Ground :
– support for the week is at 11180 and resistance at 11526
Chart Speak :
– A DD with single prints at 11345 separating the 2 auctions.
– Below 11345 rotaion to the POC’s at 11285/ 11275 is certain.
– upside target can be 11491 above VAH 11400.
Nifty :
Background :
– support for the week is at 5536 and resistance may be seen at 5742
Chart speak :
– An incomplete DD with single prints at 5661 separating the two auctions.
– Below 5661, poc at 5643 will be visited.
– resistance seen at the HVN of 5730.
SBI :
Back Ground
– A sideways POC for the past 5 days
– support for the week is at 2454 and resistance at 2532
Chart Speak :
– Open test drive created value higher than friday
– Value area 2518-2498 will be an important ref point.
RIL :
BackGround :
– 907 is resistance.
– RIL shows a single print seller at 910
– profile is irregular with another seller at 880
– support should come near 849 HVN during the week
– responsive buying near 845 seen.
Chart Speak :
– Open drive down ( o on top of d)
– Failed Auction at 879 ( day 0)
LT :
BackGround
– a sideways moving profile
– 1838 is resistance for the week and 1791 is support
Chart speak :
– Large single print buying after the p shape seen on friday
– profile has projected a barcket breakout.
– Target for the upmove in this week remains at 1885 above 1862
ICICI Bank :
Back Ground :
– a sideways moving profile
– region around 1058 is balance area currently
Chart Speak :
– ICICI still in a bracket with a seller at 1084
Tata Motors :
Back Ground :
– support for the week is 977 and resistance will be at 1030
Chart speak :
– TTM had another p shaped profile.
– Narrow value area btw 1008-1002 will be a ref point for tomorrow.
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