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 Monday:An inside day ended in a bell shaped curve.
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.
– staying above the single prints of friday can bring 11519 later in the week.
– support for the week will be at 11125, the open drive level of 29/6
—————
– An initiative buer at the opn who held fort throughout the day
– profile is bell shaped which would mean a vertical move around the corner
– prominent poc at 11380 is support for the market rise.
Nifty :
– 5620 represents a failed auction point.
————–
– NF had a failed auction revisit and a double distribution
– single print selling at 5702-5684 will be resistance now
– Only a move above 5702 can bring 5742 and 5808 later in the week.
– poor lows at 5616
————-
– Auction in the upper incomplete bell of friday
– an inside day and a bell shaped profile
– 5666 and 5639 are the prominent poc for the 2 bells and imp ref points.
SBI :
– SBI shows poor highs at 2440 which needs to be repaired.
– single print buying between 2392-2400 at the open.
————-
– poor highs remain
– profile showing sideways 2 day distribution after a big upmove.
————-
– Random distribution above the poor highs of the last 2 sessions
RIL :
– a balanced distribution in the area of previous single prints.
– 907 is resistance.
——
– RIL shows a single print seller at 910
– profile is iregular with another seller at 880
– support should cone near 849 HVN during the week
————
– auction in the single prints of friday for the most part
LT :
– LT had a spike into the close between 1832-1840
– acceptance above the spike high will be bullish
————
– LT showed a seller at 1854
– single prints between 1854-1839
———-
– seller again at the open in LT
– single print seller at 1834-1824
ICICI Bank :
– AN NV day in ICICI where the bias moved lower during intra day
——-
– Profile is sideways after a 100 point up move last month
Tata Motors :
———-
– Sideways distribution within the value area of Thursday
——–
– auction around the previous HVN of 995
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 Monday:An inside day ended in a bell shaped curve.
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.
– staying above the single prints of friday can bring 11519 later in the week.
– support for the week will be at 11125, the open drive level of 29/6
—————
– An initiative buer at the opn who held fort throughout the day
– profile is bell shaped which would mean a vertical move around the corner
– prominent poc at 11380 is support for the market rise.
Nifty :
– 5620 represents a failed auction point.
————–
– NF had a failed auction revisit and a double distribution
– single print selling at 5702-5684 will be resistance now
– Only a move above 5702 can bring 5742 and 5808 later in the week.
– poor lows at 5616
————-
– Auction in the upper incomplete bell of friday
– an inside day and a bell shaped profile
– 5666 and 5639 are the prominent poc for the 2 bells and imp ref points.
SBI :
– SBI shows poor highs at 2440 which needs to be repaired.
– single print buying between 2392-2400 at the open.
————-
– poor highs remain
– profile showing sideways 2 day distribution after a big upmove.
————-
– Random distribution above the poor highs of the last 2 sessions
RIL :
– a balanced distribution in the area of previous single prints.
– 907 is resistance.
——
– RIL shows a single print seller at 910
– profile is iregular with another seller at 880
– support should cone near 849 HVN during the week
————
– auction in the single prints of friday for the most part
LT :
– LT had a spike into the close between 1832-1840
– acceptance above the spike high will be bullish
————
– LT showed a seller at 1854
– single prints between 1854-1839
———-
– seller again at the open in LT
– single print seller at 1834-1824
ICICI Bank :
– AN NV day in ICICI where the bias moved lower during intra day
——-
– Profile is sideways after a 100 point up move last month
Tata Motors :
———-
– Sideways distribution within the value area of Thursday
——–
– auction around the previous HVN of 995
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