Evening MarketProfile report dated 04th June

An open higher than the Friday close was swiftly rejected and the A period crashed through the profile of Friday in both the Nifty and the BankNifty creating value lower through the day. Through the day there were attempts made to “thin out” the supply and the best bounce of the day measured 60 points. But on the whole, the seller was dominant and closed the session near the lows. The Profile of today points to 10715 and 10685 as major resistance for the days ahead. The path of least resistance has flipped lower and we expect higher prices to attract selling and a retest of last week’s lows is a high probability event.

 

A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-week-dated-04th-june-to-8th-june-spot-prices/. 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:

 

Nf Compo1 3 Evening Marketprofile Report Dated 04Th June Auction Market Theory, Marketprofile, Orderflow, Value Area

 

 

  • The NF Open was an OD lower
  • The day type was a Normal variation  day
  • Largest volume was traded at 10600 F today
  • Vwap of the session was at 10646 with volumes of 96.4 L in a session which traded a High-Low range of  10732-10587  for 144 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 10746 F zone is supply for the week.
  • Immediate support lower at 10575F for now.
  • The second layer of Support lower at 10520 F now
  • Overcoming supply at 10746 can push the index higher to 10923 again.

Daily Zones:

  • Value zones ( volume profile)  are at 10664-10600-10589 for tomorrow
  • Pullback high of 10685 is resistance
  • 10720 F off the Open today saw sharp sellers step up.

 

Plan :

a) Holding 10577 an attempt to bounce to 10646 to be watched for OrderFlow

b) Above 10646 can show strength to 10670/ 10685

c) weak below 10576 for 10550 / 10520

 

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:

 

Bnf Compo1 3 Evening Marketprofile Report Dated 04Th June Auction Market Theory, Marketprofile, Orderflow, Value Area

 

  • The BNF Open was an Open drive down
  • The Day type was a Normal Variation day
  • Vwap of the day was at 26438 with Volumes of 48.1 L and a High – Low of  26899-26136  for a range of 762 points.
  • Largest Volume was traded at 26210 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 :

  • 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 26480-26200-26142 for tomorrow

 

Plan :

a) Holding above 26130 near the open an attempt to bounce to 26348 and 26440 .

b) Below 26130 selling continues for 26050 and 25956

 

 

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