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 Monday: A break of the balanced distribution set up a good ” exit of value and exit of range ” trade.
Bank Nifty October series :
Background :
1) 4 day value area from 27/9 to 30/9 broken down.
2) Market moving below the previous HVN of 9380
3) A big seller at 9380
Friday’s charts :
1) The market auctioned all day in the single print zone of 4/10.
2) Initiative buying seen at 8939
3) Inability to follow up above IB is short term negative and does not show presence of big buyers
4) A normal distribution resolves into a normal variation or a neutral day.
Monday’s Charts :
1) A p shaped profile with a spike into the close
2) Aceeptance above spike high is bullish
3) Overhead seller at 9370-80 will resist up moves
4) 9170 single print in the middle of the profile is an anomaly and should be taken out
5) Today’s close is at the Virgin POC of 3/10 and 4/10 at 9200 approx..
Nifty Future October series:
Background :
1) 4 day value area from 27/9 to 30/9 broken down.
2) Market moving below the previous HVN of 4896
3) FA from 4814 revisited and new auction tracked below it.
Friday’s charts :
1) A normal distribution within IB
2) The market placed delicately between 2 brackets 4907-5046 & 4984-4730
3) Auction was in the gap of the close on 30/9 and the open of 03/10
4) 4914 is prominent POC for the bell shaped profile and should get visited again.
Monday’s charts :
1) The market moved decisively in the previous bracket ( blue rectangle)
2) 5046 which is the bracket high is target 1 for this move
3) No big buying prints at the base of today’s move, though a gap area remains upto 4844-4873
4) The gap is considered to be buying
5) We had a spike into the close
6) 4986 is an anomaly and needs to be taken out.
Broader Market of Monday: A break of the balanced distribution set up a good ” exit of value and exit of range ” trade.
Bank Nifty October series :
Background :
1) 4 day value area from 27/9 to 30/9 broken down.
2) Market moving below the previous HVN of 9380
3) A big seller at 9380
Friday’s charts :
1) The market auctioned all day in the single print zone of 4/10.
2) Initiative buying seen at 8939
3) Inability to follow up above IB is short term negative and does not show presence of big buyers
4) A normal distribution resolves into a normal variation or a neutral day.
Monday’s Charts :
1) A p shaped profile with a spike into the close
2) Aceeptance above spike high is bullish
3) Overhead seller at 9370-80 will resist up moves
4) 9170 single print in the middle of the profile is an anomaly and should be taken out
5) Today’s close is at the Virgin POC of 3/10 and 4/10 at 9200 approx..
Nifty Future October series:
Background :
1) 4 day value area from 27/9 to 30/9 broken down.
2) Market moving below the previous HVN of 4896
3) FA from 4814 revisited and new auction tracked below it.
Friday’s charts :
1) A normal distribution within IB
2) The market placed delicately between 2 brackets 4907-5046 & 4984-4730
3) Auction was in the gap of the close on 30/9 and the open of 03/10
4) 4914 is prominent POC for the bell shaped profile and should get visited again.
Monday’s charts :
1) The market moved decisively in the previous bracket ( blue rectangle)
2) 5046 which is the bracket high is target 1 for this move
3) No big buying prints at the base of today’s move, though a gap area remains upto 4844-4873
4) The gap is considered to be buying
5) We had a spike into the close
6) 4986 is an anomaly and needs to be taken out.
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