The auction dropped early in the morning from 10700 but met a lot of responsive buying on the way down. It hit the 10600 mark which we pointed out in the weekly report and bounced to close at the halfway mark. For the duration of the week to come we maintain that it could be a flattish auction probing the zones around 10570 and 10740.
I’m speaking in depth on using MarketProfile the correct way in Hyderabad on July 7th. Details at – https://vtrender.com/marketprofile-in-hyderabad/
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-02nd-july-to-6th-july/
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 July F:
- The NF Open was an Open drive down
- The day type was a Normal variation day
- Largest volume was traded at 10658 F today
- Vwap of the session was at 10642 with volumes of 92.3 L in a session which traded a High-Low range of 10705-10595 for 110 points.
Monthly Zones:
- The vwap of June series is at 10737 spot
- The POC of June series was at 10760 spot
- The vwap of the May series was at 10669 spot and the POC was at 10736.
- The settlement day rollover volume point is at 10572 F.
Weekly Zones :
- Immediate supply at 10770 F for now.
- Second zone of supply would be at 10860 F
- The first layer of Support lower at 10570 F now
Daily Zones:
- Value zones ( volume profile) are at 10675-10655-10625 for tomorrow
Plan :
a)Holding 10640 in the IB likely to trade to 10674 and 10695
b)supply near 10696 may attempt a push lower to 10650 again
c) Below 10605 dips lower to 10580.
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 drive
- The Day type was a Normal Variation day
- Vwap of the day was at 26207 with Volumes of 32.2 L and a High – Low of 26349-26065 for a range of 284 points.
- Largest Volume was traded at 26130 F today
Monthly Zones :
- The vwap of June series is at 26522 spot
- The POC of June series was at 26544 spot
- The vwap of May series was at 26091 spot with POC of 25744
- The settlement day rollover volume point is at 26217 F.
Weekly Zones :
- The 26470 zone was broken and is now a supply
- The old seller at 26800 is still very active.
Daily Zones:
- Value zones ( volume profile) are at 26240-26132-26077 for tomorrow
Plan :
a) Holding 26130 the auction may attempt 26320 and 26400
b) The supply is firm near 26470- 26520.
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