The Prime Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
Broader Market of Friday : A neutral day showing the presence of longer time frame buyers and sellers with a close around DPOC.
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from Friday :
1) Poor lows at 9467 which means that the day’s auction did not complete and a probe lower should come
2) HVN at 9415 is support
3) Single prints at 9548 will be visited in next 2-3 sessions.
Today’s charts :
1) Poor lows on a balanced profile
2) Lows were similar to the ones on 13/9 and 14/9 which also did not have buying tails.
3) Value created downwards and close at dpoc indicates that lower value has been accepted.
4) Trend remains lower.
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chart speak from Friday :
1) 4947/ 5004 are single prints and should be seen again
2) 4875 is support.
Today’s charts :
1) A neutral day
2) Value shifted lower
3) Dpoc was at the previous HVN of 4875
4) If 4875 holds, another move to the previous HVN of 4937 cannot be ruled out
5) Above 4947, the weak profile upto 5004 will be tested.
6) Support remains at 4839/4854
Broader Market of Friday : A neutral day showing the presence of longer time frame buyers and sellers with a close around DPOC.
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from Friday :
1) Poor lows at 9467 which means that the day’s auction did not complete and a probe lower should come
2) HVN at 9415 is support
3) Single prints at 9548 will be visited in next 2-3 sessions.
Today’s charts :
1) Poor lows on a balanced profile
2) Lows were similar to the ones on 13/9 and 14/9 which also did not have buying tails.
3) Value created downwards and close at dpoc indicates that lower value has been accepted.
4) Trend remains lower.
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chart speak from Friday :
1) 4947/ 5004 are single prints and should be seen again
2) 4875 is support.
Today’s charts :
1) A neutral day
2) Value shifted lower
3) Dpoc was at the previous HVN of 4875
4) If 4875 holds, another move to the previous HVN of 4937 cannot be ruled out
5) Above 4947, the weak profile upto 5004 will be tested.
6) Support remains at 4839/4854
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