Levels and Plan for 24th Aug
A nice developing balance was interrupted in the last 40 minutes of the session in a spike which had retraced fully by the close. Even though we saw nice buying at 8222 and 8250 levels earlier in the day, the OrderFlow showed sellers hitting the bids furiously in that spike.
Nifty/ BN Weekly View (spot) for 24 Aug- 28 Aug’15
On Thursday the NF broke away from a multi session balance as well as the weekly support of 8420 and July series Vwap of 8446 creating a huge imbalance which as we pointed out in our Friday 21st Aug update “had the potential to visit 8150 levels”.