The NF opened in the spike of yesterday’s auction, the BNF much lower. The lower open forced long liquidation in the BNF which dropped a further 488 points on the day. The Nifty was a neutral extreme at the close with the POC of August series at 11488 close to the lows and a support for a bounce tomorrow. The BanKnifty was a trend lower post-IB and the Initiative selling seen at 27740, 27850 and 27920 promises more lower levels ahead. The BN already finds itself near Aug lows and with bounces threatening to see more long liquidation and fresh supply can drop to 26600– 26800 in the weeks ahead in this series. We see a bounce materializing in both the Nifty and the BankNifty in the next 2 sessions as the day lows of today are important pivots .
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-03rd-sept-to-07th-sept-spot-prices/
The support at 11620 has failed in the index and the next support is near 11480.
Nifty Sept F:
- The NF Open was an Open test drive
- The day type was a Neutral day
- Largest volume was traded at 11600 F today
- Vwap of the session was at 11605 with volumes of 103.3 L in a session which traded a High-Low range of 11650-11550 for 100 points
Monthly Zones:
- The vwap of the Aug series is at 11444 spot and the POC was at 11480
- The settlement day (Aug ) rollover volume point is at 11739 F.
- Highest Rollover point was at 11772 Sept F
Weekly Zones :
- Immediate support at 11530F for now.
- Spike zone is 11620 to 11720F.
- the second zone of support is at 11490
- The auction objective if 11650 is crossed is at 11690-11735
Daily Zones:
- Value zones ( volume profile) are at 11631-11600-11572 for tomorrow
Plan :
a) The auction has support at 11540
b) the second zone of support is at 11510
c) the objective of the rise above 11600 is 11640
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 Sept F:
- The BNF Open was an Open test drive
- The Day type was a Normal Variation day
- Vwap of the day was at 27768 with Volumes of 41.2 L and a High – Low of 28039-27550 for a range of 488 points.
- Largest Volume was traded at 27760 F today
Monthly Zones :
- The vwap of Aug series is at 27923 spot with POC of 28280
- The settlement day rollover volume point (aug) is at 28232 F.
- Highest Rollover point was at 28232 Sept F
Weekly Zones :
- spike zone is 27960- 28130.
- supply still dominant near 28450-28476
- supply expected back at 27850 and 27960
Daily Zones:
- Value zones ( volume profile) are at 27850-27740-27630 for tomorrow
Plan :
a) The 27450 zone is a support
b) supply still prevalent at 27766
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