Levels and Plan for 25th Aug

A sharp selloff accelerated by close after a gap down open which took apart weekly supports as well as year lows and dropped the Nifty to 7771 levels. With a volume which crossed 335 L just in Nifty today we saw a much higher time frame operating in the markets than otherwise seen.

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”.

Levels and Plan for 21st Aug

Finally the seller from 8510+ prevailed over the buyers from 8440 levels creating a 100 point drop in 3 hours of a range which was consolidating for 3 days in 100 points. It’s just the way the market works and we await a test of 8280 F in the coming 2 sessions to see where […]