The Nifty and the Banknifty had a very quiet auction at the edge of yesterday’s range. Volume was average and the expected expansion in range and volume did not materialize. It could be a sign of a market waiting to get some more info. For the moment the buyers keep their advantage as long as they do not surrender 10820- 10832 F and 26550-570F in the 2 sessions ahead.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-fo-the-week-dated-11th-june-to-15th-june-spot-prices/
It is the same MarketProfile view working for a 1- 5 day period on the Nifty and the BankNifty spot without worrying about the movement of the premium which is a sticky issue now.
Nifty June F:
- The NF Open was an Open auction
- The day type was a Normal variation day
- Largest volume was traded at 10848 F today
- Vwap of the session was at 10852 with volumes of 61.1 L in a session which traded a High-Low range of 10873-10831 for 42 points.
Monthly Zones:
- The vwap of the May series is at 10669 spot and the POC is at 10736.
- The settlement day rollover volume point is at 10692 F and 10705 F.
- The vwap of April series was at 10419 spot
- The POC of April series was at 10556 spot
- The settlement day rollover volume point of April series was at 10632-10603 F.
Weekly Zones :
- The auction has moved into a new bracket between 10660 on the lower side and 10840 higher
- An 8-day mini composite range is 10750- 10550F.
- Immediate support lower at 10660 F for now.
- The second layer of Support lower at 10570 F now
- Overcoming supply at 10840 can push the index higher to 10923 again.
Daily Zones:
- Value zones ( volume profile) are at 10860-10848-10844 for tomorrow
Plan :
a) The 10832- 10820 zone is support
b) watch for buying to re-emerge above 10862
c) neutral between 10830- 10860 .
For tradeable ideas on these hypos and to check the OrderFlow live visit the trading room.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout
BNF June F:
- The BNF Open was an Open auction
- The Day type was a Normal day
- Vwap of the day was at 26670 with Volumes of 28.8 L and a High – Low of 26732-26573 for a range of 159 points.
- Largest Volume was traded at 26670 F today
Monthly Zones :
- The vwap of May series is at 26091 spot with POC of 25744
- The settlement day rollover volume point is at 26750-26770 F.
- The vwap of Apr series was at 25010 spot with POC of 25050
- The settlement day rollover volume point of April was at 25035 F.
Weekly Zones :
- Immediate supply for BNF is at 26770 F
- If it sustains above this can push to 27000 and 27300 F again
Daily Zones:
- Value zones ( volume profile) are at 26705-26670-26630 for tomorrow
Plan :
a) the 26640- 26730 is a neutral auction zone
b) above 26760 the BNF can be expected to do 26840/ 26880
c) weakness below 26560 again
d) the zone around 26700- 760 F has potential to flip the auction around, watch OrderFlow here.
For tradeable ideas on these hypos and to check the OrderFlow Live visit the trading room.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout