Here is the updated chart of the NF showing the individual profiles.
In my last post I had stressed the importance of 5174 as a support level.
That chart is here- http://www.vtrender.com/sites/default/files/MP_43.png
This morning we opened up right at the 5174 level and when buyers did not show at the open, the market drifted lower into a trend day.
Two important lows below 5177 are 5111 which were the lows of expiry week in June and the 5092 HVN.from 19th June.
The Nifty is expected to get support here, but will meet determined sellers once again if it reached 5172- 5190.
The BankNifty hit the high volume node at 10390 and closed there falling 200 points from the previous support.
It's making an extremely good job at all HVN's ( marked in purple) with it being either supported or resisted.
Short term inventory again got a little too short and the down auction is expected to take a pause tomorrow..
Swing remains down below 5240 NF now whereas levels of 5063- 5080 NF are expected to give support .