The auction of Friday had a lot of excitement in the form of a Failed auction at 10838 earlier in the Morning session, then a failed break away from a 5-day composite range and responsive buying again from lower levels catching shorts off into the close. The 2-way swings ensured above-average volume and range but the Nifty closed still at the highest volume traded zone of the week.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-18th-june-to-22nd-june/
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 testing supply
- The day type was a Neutral day
- Largest volume was traded at 10770 F today
- Vwap of the session was at 10792 with volumes of 113.6 L in a session which traded a High-Low range of 10838-10735 for 108 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 established a 10873- 10735 range last week with a POC at 10820.
- Immediate support lower at 10706 F for now.
- The second layer of Support lower at 10640 F now
- Overcoming supply at 10840 can push the index higher to 10923 again.
Daily Zones:
- Value zones ( volume profile) are at 10823-10770-10765 for tomorrow
Plan :
a) The 10770 buyer is the new support area and the Buyers are seen defending it.
b) supply defined now at 10834 and 10857 higher
c) could be a quiet auction within the range
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 Variation day
- Vwap of the day was at 26435 with Volumes of 35.4 L and a High – Low of 26569-23601 for a range of 268 points.
- Largest Volume was traded at 26350 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 :
- The BNF weekly is a triple Inside week.
- 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 26485-26350-26310 for tomorrow
Plan :
a) The 26420- 26460 zone shows fresh supply and some long liquidation
b) the 26570 has also shown supply
c) Minor support exists still at 26320F.
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