The bounce led by the responsive buying seen at 10600 yesterday hit the other extreme near 10740 today, where we saw liquidation happening of yesterday longs. Intent pointed to supply coming back at the highs today. Profile wise we finished as a Normal variation day would, at the highs.
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 test drive
- The day type was a Normal variation day
- Largest volume was traded at 10730 F today
- Vwap of the session was at 10694 with volumes of 88.4 L in a session which traded a High-Low range of 10733-10630 for 102 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 10735-10730-10690 for tomorrow
Plan :
a)Pivot near 10720 at the open tomorrow
b)Holding above 10720 attempts may be made to look for sellers at 10760/ 10780
c) Below 10720 the NF is weak and can drop to 10690 and 10655
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 26260 with Volumes of 31.1 L and a High – Low of 26344-26165 for a range of 180 points.
- Largest Volume was traded at 26240 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 26285-26240-26212 for tomorrow
Plan :
a) Holding below 26230 the auction may attempt a move down to 26130 again
b) above 26240 a retest of the supply at 26340 and 26430 is due
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