Levels and Plan for 20th Nov
The market gapped up today and on the expected retest of 7777 mentioned in yesterday’s report, the sellers failed to hold their edge ( low of 7771) and the auction rose in the opposite direction on old business covering positions. Into the close there was an absence of new buying and structure remains sideways for […]
Levels and Plan for 19th Nov
Yesterday was a Neutral Center ( NC) and we made a mention of the 7820 Buyers and the 7876 F sellers in yesterday’s report. Once again we trended out of the NC as the 7820 buyers gave up after early morning resistance and the NF trended lower rest of the session to meet the Buying […]
Levels and Plan for 18th Nov
The day after the trend day was 2-time frame in auction behavior and closed as a neutral center just above vwap and day midpoint. A neutral center after a trend day (which is domination by a single time frame), shows the market accepting the higher prices as value. Yesterday’s reference levels remain the same on […]
Levels and Plan for 16th Nov
We got a neutral center in the NF in Friday’s session. We also note an FA at 7742 which saw a huge buying order enough to push the index up 54 points during the session. However, the close was at vwap and just like last Friday resembled a pause.
Nifty/ BN Weekly View (spot) for 16 Nov- 20 Nov’15
Our last week’s view: “The Larger time frame has gone weak and we maintain 7830 as the immediate target below 7950 and a possibility of 7645 and 7545 before the Month of November runs out”. The index is still one time framing lower which in Market Profile means complete domination by one party viz. sellers […]
Levels and Plan for 10th Nov
The ORR played true to the textbook also helped by the MO which had printed -66 in Friday’s session. Given the high volumes seen at today’s open, shorts covered and the buyers could close the gap seen at the Open in traded volumes between the sessions.
Levels and Plan for 09th Nov
The support of 7950 was repeatedly tested and even though we found aggressive buyers at the lows in the first attempt, as the day panned out the buyers could not claim a successful defence of the level, leaving possibilities open for Monday Nifty Nov F: Background / Previous Auctions : Weekly levels: […]
Nifty/ BN Weekly View (spot) for 09 Nov- 13 Nov’15
Last week we spoke about a test of 7950 spot. The index tested the zone late Thursday and Friday eventually closing near it leaving the immediate 120 points uncertain. Whilst there is an event over the weekend which may dictate Monday Open prices, we are looking for an auction sustaining 8030 spot early in the […]
Levels and Plan for 06th Nov
Bears gave a lesson today to the Bulls on how to take advantage of a gap. As opposed to yesterday’s open above the 2-day range of 8128- 8050, the bear dominated the gap today in his favor and on the retest of the 8128- 8050 balance we have been pointing out, came back stronger to […]
Levels and Plan for 05th Nov
On a gap up Open, the markets lost a great opportunity to pull out of the 8050- 8128 range and reach for the expiry seller near 8180. We did sense opportunity for a long trade as long as 8085 was holding, but in the closing hour a sell-off followed which took the market down to […]