The Power Levels for tomorrow and possible areas of demand and supply are uploaded in an excel sheet here.
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 Tuesday: The Market moved into the upper part of the distribution from last Friday, thus negating that down move of that day. It will be interesting to see if sellers come back at Friday’s levels or buyers take over.
Bank Nifty :
– Bn exhibited an open drive and a p shaped structure caused by short covering early
– value areas 10905-10855 will be watched for tomorrow’s development
– single prints from 10820 to 10760
Nifty :
– NF covered today the single/ double prints from friday last
– the region of 5590 is the upper value area as well as weekly value high from last week. This will be watched for further auction
– single prints 5516 to 5508
SBI :
– SBI had open drive from 2304 single prints
– Minor seller at the top near 2342
RIL :
– OTF buying in RIL from 938 to 947
– 964 is an hvn from friday last
– 979/ 1003 are the HVN’s abv 964
LT :
– Minor seller near 1730 at open
– fairly balanced distribution in the value area of yesterday
– inside day
ICICI Bank :
– Minor single prints from 1052 to 1059
– distribution in the upper part of yesterday’s profile
Tata Motors :
– 3 day structure is looking like a b in TTM
– Unlike NF/ Bn and others, TTM did not auction in the upper part of friday’s distribution.
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 Tuesday: The Market moved into the upper part of the distribution from last Friday, thus negating that down move of that day. It will be interesting to see if sellers come back at Friday’s levels or buyers take over.
Bank Nifty :
– Bn exhibited an open drive and a p shaped structure caused by short covering early
– value areas 10905-10855 will be watched for tomorrow’s development
– single prints from 10820 to 10760
Nifty :
– NF covered today the single/ double prints from friday last
– the region of 5590 is the upper value area as well as weekly value high from last week. This will be watched for further auction
– single prints 5516 to 5508
SBI :
– SBI had open drive from 2304 single prints
– Minor seller at the top near 2342
RIL :
– OTF buying in RIL from 938 to 947
– 964 is an hvn from friday last
– 979/ 1003 are the HVN’s abv 964
LT :
– Minor seller near 1730 at open
– fairly balanced distribution in the value area of yesterday
– inside day
ICICI Bank :
– Minor single prints from 1052 to 1059
– distribution in the upper part of yesterday’s profile
Tata Motors :
– 3 day structure is looking like a b in TTM
– Unlike NF/ Bn and others, TTM did not auction in the upper part of friday’s distribution.
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