The Prime Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
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.
Bank Nifty :
Back Ground :
Chart Speak :
– Fairly well balanced profile after the B shape of yesterday
– prominent POC at 10920 can give an upward bias towards 10975 again
Nifty :
Background :
Chart speak :
– EOD data does nor show the FA discussed in the room
– Profile is balanced which can indicate a pause in the sell auction of past few days
SBI :
Back Ground
Chart Speak :
– seller at the open
– a B shaped profile which is a bearish indication.
RIL :
BackGround :
Chart Speak :
– a b shaped profile with single prints at top.
LT :
BackGround
Chart speak :
– a balanced profile which may indicate that the sell off may be over.
ICICI Bank :
Back Ground :
Chart Speak :
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.
Bank Nifty :
Back Ground :
Chart Speak :
– Fairly well balanced profile after the B shape of yesterday
– prominent POC at 10920 can give an upward bias towards 10975 again
Nifty :
Background :
Chart speak :
– EOD data does nor show the FA discussed in the room
– Profile is balanced which can indicate a pause in the sell auction of past few days
SBI :
Back Ground
Chart Speak :
– seller at the open
– a B shaped profile which is a bearish indication.
RIL :
BackGround :
Chart Speak :
– a b shaped profile with single prints at top.
LT :
BackGround
Chart speak :
– a balanced profile which may indicate that the sell off may be over.
ICICI Bank :
Back Ground :
Chart Speak :
[learn_press_profile]