The auction on Friday was again different in both the Nifty and the BankNifty. The Nifty opened as an open auction and tested the zone below 11550 where it did not again see new supply . It closed near the DPOC/ Vwap of day at 11570. Incidentally, 11570 was also the weekly POC. The BankNifty opened as an Open Test drive and went on to test the Initiative seller from Thursday’s auction at 28170- 28200. Supply overwhelmed demand at this pivot and the inability of the open buyers to protect vwap on the test led to long liquidation and a BankNifty close at the lows of the multi day bracket and below the 27970 VPOC.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-20th-to-24th-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 11568 F today
- Vwap of the session was at 11573 with volumes of 67.7 L in a session which traded a High-Low range of 11605-11541 for 65 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 11495/11510 for now.
- The vwap of trend up on 03/08 at 11360 is also a support
- Supply could come back higher at 11650 F next.
Daily Zones:
- Value zones ( volume profile) are at 11586-11568-11558 for tomorrow
Plan :
a) The auction has support at 11550
b) the second zone of support is at 11500
c) supply expected higher for intraday at 11613 and 11627 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 test drive which failed
- The Day type was a Normal variation day
- Vwap of the day was at 27995 with Volumes of 27.6 L and a High – Low of 28176-27861 for a range of 314 points.
- Largest Volume was traded at 27908 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 27760 is now a support
- The vwap of trend up on 03/08 at 27670 is also a support
- supply can come back around 28080- 28110
Daily Zones:
- Value zones ( volume profile) are at 28020-27910-27862 for tomorrow
Plan :
a) The 27800 zone is a support
b) supply expected to be back at 28110 and 28200
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