Levels and Plan for 19th Aug
Another day when the Nifty lost a great opportunity to rectify the orderflow imbalance above 8510F. That region is now firmly in control of the sellers putting pressure on the responsive buyers at 8440 who may not be able to hold up for long . Auction however finished balanced at the close.
Levels and Plan for 18th Aug
The weakness evident in the OrderFlow of Friday’s trend day played out in the first 10 minutes of the day session which contained the range of the entire day. At the close, both NF and BNF got classified as Normal days.
Levels and Plan for 17th Aug
The big trend day of Friday came off a MO reading of -71. The McClellan remains by far our best indicator at tipping points to tell us which side the auction is getting driven by emotional players. It helps to manage risk on an existing position as well as prepare for a fierce counter trend […]
Levels and Plan for 14th Aug
The day was an inside day with a net 300 Lakh plus in volumes between 8457 and 8355 with clear signs of sellers at the highs and responsive buying at the lows. That kind of volume in that range calls for a breakout and odds are high to get one tomorrow. MO at -71 evens […]
Levels and Plan for 13th Aug
The Nifty broke the series vwap of 8446 today on above avg volumes ( day high of 8447) putting the ball firmly with the previous buyers at 8330- 8300 to lift the market up again. Support lower is at 8255 on the index . The BN continued the imbalance with another sharp trending move mid afternoon […]
Levels and Plan for 12th Aug
Once 8535F failed to hold in the morning session, the day started a downward spiral and the BN also confirmed the sell bias mid afternoon in a day which closed a bit weirdly near vwap. That close was not in the “normal” scheme of things for the auction and also a pointer as to why […]
Levels and Plan for 11th Aug
The NF closed in a spike today in a session which saw sellers come at the highs and dropped off quickly below 2 day lows. However OrderFlow showed buyers climbing back at the close. Nifty Aug F : Background / Previous Auctions : Weekly levels : We have done a review […]
Levels and Plan for 10th Aug
The Nifty closed the week near the prominent POC seen on wednesday. Early morning buyers seen near 8585-90 threw in the towel in a late afternoon move and the profile remained centered between the 2 distributions seen on thursday.
Levels and Plan for 07th Aug
We spoke about a bias at 8588F in yesterday’s post and the jump above that prominent POC came later afternoon taking the market to 8642 supply. EOD data showed pros selling into the rise but when they liquidate tomorrow that bias above 8588 will remain intact.
Levels and Plan for 06th Aug
The Nifty repaired the value aberration from yesterday’s move by climbing above yesterday range highs early in the session and creating value higher. However the BankNifty disappointed longs today and may have declared it’s intention to remain sideways for the rest of this week.We spoke about 19070 spot in the weekend post and whilst yesterday […]