A quiet low volume low range auction in the Nifty and the Banknifty on Tuesday set up a Normal Variation in the Nifty and a Normal day in the BankNifty. The opportunity for a largish break away from balance is in the BankNifty tomorrow which is the index to watch closely from the Open.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-6th-aug-to-10th-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 auction
- The day type was a Normal Variation day
- Largest volume was traded at 11418 F today
- Vwap of the session was at 11414 with volumes of 53.6 L in a session which traded a High-Low range of 11445-11376 for 68 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 11301 and 11155 F for now.
- Supply expected near 11440- 11455 during the week
Daily Zones:
- Value zones ( volume profile) are at 11426-11414-11404 for tomorrow
Plan :
a) The auction has support at 11395 and lower at 11350
b) Buy dips to 11355
c) supply expected higher for intraday at 11435-11455 on any probe higher
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 auction
- The Day type was a normal day
- Vwap of the day was at 27937 with Volumes of 19.1 L and a High – Low of 28010-27873 for a range of 137 points.
- Largest Volume was traded at 27950 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 and 27450 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 27972-27950-27900 for tomorrow
Plan :
a) The 27900 zone is a support
b) supply is prevalent at 27990 and 28040.
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