The first day of the new series of August saw an auction which was accepted well over the settlement volume point of July and gave a double distribution in the Nifty and a P shaped profile in the Banknifty. Bias continues to be up over 11155 Aug F which is the immediate support for a change in sentiment.
A weekly outlook was updated on Saturday at –https://vtrender.com/weekly-outlook-for-the-week-dated-30th-july-to-03rd-aug/
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 Aug F:
- The NF Open was an Open test drive
- The day type was a double distribution day
- Largest volume was traded at 11306 F today
- Vwap of the session was at 11272 with volumes of 72.3 L in a session which traded a High-Low range of 11313-11225 for 87 points.
Monthly Zones:
- The vwap of the July series is at 10900 spot and the POC was at 10967
- The settlement day rollover volume point is at 11156 F.
Weekly Zones :
- Immediate support at 11221 and 11155 F for now.
- Supply expected near 11350 and 11400
Daily Zones:
- Value zones ( volume profile) are at 11310-11306-11257 for tomorrow
Plan :
a) The auction has support at 11270
b) The second line of support is at 11240
c) supply expected higher for intraday at 11336 and 11366
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 July F:
- The BNF Open was an Open Test Drive
- The Day type was a Normal variation day
- Vwap of the day was at 27580 with Volumes of 22.9 L and a High – Low of 27660-27475 for a range of 180 points.
- Largest Volume was traded at 27600 F today
Monthly Zones :
- The vwap of July series is at 26738 spot with POC of 26910
- The settlement day rollover volume point is at 27436 F.
Weekly Zones :
- The 27330 zone is now a support
- The vwap of trend up on 26/07 at 27313 is also a support
Daily Zones:
- Value zones ( volume profile) are at 27650-27600-27555 for tomorrow
Plan :
a) The 27580 zone is a good support
b) upsides can continue to 27720 and 27760
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