The Power Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here. The most important number to watch in the sheet is Prime Point Zero or (PP0) which is the level where the market is neutral for the day.A market below PP0 and moving lower is a weak market intraday and vice versa.
Whilst using the Order Flow charts, it is necessary to book profits at each of the levels mentioned. Thus a BUY signal can be booked at the closest PR1, PR2, PR3 with every preceding level becoming a stop loss for the existing order. Depending on how the smaller OF reacts , one can re-initiate the booked order
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Monday: A normal variation day marked by a low IB.
Bank Nifty :
Back Ground :
– responsive buying from 11175 which is the POC of the balanced profile from 29/6
– 11195-11175 single prints will support the market.
– 11520-11540 continues to be a resistance zone
– Open drive down with seller at open at 11490 ( 8/7)
Chart Speak :
– selling prints at the open at 11295-11240
– single prints at 11195, a previous reference level
– next level of support is at 11050
Nifty :
Background :
– 5617 represents a failed auction point.
– NF had a failed auction revisit ( 1/7) and a double distribution ( 1/7)
———-
– a 3I day which gives high odds for the day highs to be made during the first 90 minutes of trade
– open test drive with single prints at 5630-5654
– Minor single prints at 5714 and 5726 need to be visited in subsequent auctions
– open drive down on a 3 I day ( O on top of d) ( 8/7)
– larger distribution in the zone of the single prints of yesterday
– spike into the close from 5700-5658
– acceptance below the spike lows on Monday is bearish
– support is at 5638, the base of the previous single print buying
Chart speak :
– Market stayed below the spike lows and broke through the 5638 support to move lower
– support is at 5550 today
–
SBI :
Back Ground
– single print buying between 2392-2400 at the open.
– strong open drive at 2426
– single prints at 2426 to 2456 are big support
– overhead resistance at 2492
– – profile shows 2 developments , one with center around 2476 and the other at 2506.( 8/7)
Chart Speak :
– Open drive ( 11/7)
– auctioned largely in the single prints of 7/7.
– 2410/ 2388 are supports.
RIL :
BackGround :
– 907 is resistance.
– RIL shows a single print seller at 910
– profile is irregular with another seller at 880
– support should come near 849 HVN during the week
– responsive buying near 845 seen.
————-
– RIL had a spike into the close btw 873-879 ( 8/7)
– acceptance above the spike high of 879 will be bullish ( 8/7)
Chart Speak :
– 5th day of sideways development in RIL between 844 and 880
LT :
BackGround
– LT had an initiative buyer at 1800 today ( 6/7)
– profile is p which may indicate shorts winding up.
– LT had a big trend day after the p shape of yesterday ( 7/7)
– LT built volumes in the poor structure of yesterday
– 1828 is support for the current week.
Chart speak :
– Inside day in LT.
ICICI Bank :
Back Ground :
– ICICI moved lower after a failed open drive
– 2 day profile represents a DD
– single prints near 1070 are expected to provide strong support to the market( 6/7)
– ICICI found support near the single prints of 1070
– ICICI broke though support at close with minor single prints at 1069
– support now stands at 1052.
——–
Chart Speak :
– ICICI auctioned in the single prints of 8/7
– a Normal day with a balanced profile in ICICI would give rise to the possibility of a vertical move, some time in next 1-2 sessions.
Tata Motors :
Back Ground :
– Tata motors shows a p shape profile above the HVN of 994 ( 5/7)
– acceptance above 1015 can bring 1035 later in the week.
– TTM closed at 1015 after a bounce from the previous HVN of 994.( 5/7)
————
– TTM hit 1035 and made poor highs which means a bit more upside ( 7/7)
– single prints at 1008-1015 are support for the market.
– prominent POC at 1045
– 1026 is support now.
– 1060 would be resistance.
–
Chart speak :
– resisted at POC, supported at 1026
– a normal distribution.
Whilst using the Order Flow charts, it is necessary to book profits at each of the levels mentioned. Thus a BUY signal can be booked at the closest PR1, PR2, PR3 with every preceding level becoming a stop loss for the existing order. Depending on how the smaller OF reacts , one can re-initiate the booked order
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Monday: A normal variation day marked by a low IB.
Bank Nifty :
Back Ground :
– responsive buying from 11175 which is the POC of the balanced profile from 29/6
– 11195-11175 single prints will support the market.
– 11520-11540 continues to be a resistance zone
– Open drive down with seller at open at 11490 ( 8/7)
Chart Speak :
– selling prints at the open at 11295-11240
– single prints at 11195, a previous reference level
– next level of support is at 11050
Nifty :
Background :
– 5617 represents a failed auction point.
– NF had a failed auction revisit ( 1/7) and a double distribution ( 1/7)
———-
– a 3I day which gives high odds for the day highs to be made during the first 90 minutes of trade
– open test drive with single prints at 5630-5654
– Minor single prints at 5714 and 5726 need to be visited in subsequent auctions
– open drive down on a 3 I day ( O on top of d) ( 8/7)
– larger distribution in the zone of the single prints of yesterday
– spike into the close from 5700-5658
– acceptance below the spike lows on Monday is bearish
– support is at 5638, the base of the previous single print buying
Chart speak :
– Market stayed below the spike lows and broke through the 5638 support to move lower
– support is at 5550 today
–
SBI :
Back Ground
– single print buying between 2392-2400 at the open.
– strong open drive at 2426
– single prints at 2426 to 2456 are big support
– overhead resistance at 2492
– – profile shows 2 developments , one with center around 2476 and the other at 2506.( 8/7)
Chart Speak :
– Open drive ( 11/7)
– auctioned largely in the single prints of 7/7.
– 2410/ 2388 are supports.
RIL :
BackGround :
– 907 is resistance.
– RIL shows a single print seller at 910
– profile is irregular with another seller at 880
– support should come near 849 HVN during the week
– responsive buying near 845 seen.
————-
– RIL had a spike into the close btw 873-879 ( 8/7)
– acceptance above the spike high of 879 will be bullish ( 8/7)
Chart Speak :
– 5th day of sideways development in RIL between 844 and 880
LT :
BackGround
– LT had an initiative buyer at 1800 today ( 6/7)
– profile is p which may indicate shorts winding up.
– LT had a big trend day after the p shape of yesterday ( 7/7)
– LT built volumes in the poor structure of yesterday
– 1828 is support for the current week.
Chart speak :
– Inside day in LT.
ICICI Bank :
Back Ground :
– ICICI moved lower after a failed open drive
– 2 day profile represents a DD
– single prints near 1070 are expected to provide strong support to the market( 6/7)
– ICICI found support near the single prints of 1070
– ICICI broke though support at close with minor single prints at 1069
– support now stands at 1052.
——–
Chart Speak :
– ICICI auctioned in the single prints of 8/7
– a Normal day with a balanced profile in ICICI would give rise to the possibility of a vertical move, some time in next 1-2 sessions.
Tata Motors :
Back Ground :
– Tata motors shows a p shape profile above the HVN of 994 ( 5/7)
– acceptance above 1015 can bring 1035 later in the week.
– TTM closed at 1015 after a bounce from the previous HVN of 994.( 5/7)
————
– TTM hit 1035 and made poor highs which means a bit more upside ( 7/7)
– single prints at 1008-1015 are support for the market.
– prominent POC at 1045
– 1026 is support now.
– 1060 would be resistance.
–
Chart speak :
– resisted at POC, supported at 1026
– a normal distribution.
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