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 : Another neutral day with a failed auction at 4877, the previous day’s POC
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from Monday :
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.
Today’s charts :
1) Still no long term excess visible on charts
2) Dominant trend remains in force
3) Value created sideways and POC remained sideways.
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chart speak from Monday :
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
Today’s charts :
1) Markets opened below the HVN of 4875 and stayed lower
2) The up auction later in the day could not move through 4875, resulting in a failed auction.
3) Value was created marginally lower
4) support near 4752 held barely and the market made an up move from there
Broader Market of Monday : Another neutral day with a failed auction at 4877, the previous day’s POC
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from Monday :
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.
Today’s charts :
1) Still no long term excess visible on charts
2) Dominant trend remains in force
3) Value created sideways and POC remained sideways.
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chart speak from Monday :
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
Today’s charts :
1) Markets opened below the HVN of 4875 and stayed lower
2) The up auction later in the day could not move through 4875, resulting in a failed auction.
3) Value was created marginally lower
4) support near 4752 held barely and the market made an up move from there
[learn_press_profile]