The BankNifty broke away and hit the expected 28140 putting in a 3IB day. The Nifty also moved above the supply zone of 11435-11444 which now is a short-term support zone. PLR ( Path of least resistance) remains higher and is upto the sellers to Initiate moves to change the auction nature.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-6th-aug-to-10th-aug/
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 Aug F:
- The NF Open was an Open auction
- The day type was a Normal Variation day
- Largest volume was traded at 11455 F today
- Vwap of the session was at 11444 with volumes of 67.6 L in a session which traded a High-Low range of 11476-11398 for 77 points.
Monthly Zones:
- The vwap of the July series is at 10900 spot and the POC was at 10967
- The settlement day rollover volume point is at 11156 F.
Weekly Zones :
- Immediate support at 11301 and 11155 F for now.
- Supply could come back higher at 11497 and 11533 F next.
Daily Zones:
- Value zones ( volume profile) are at 11472-11455–11443 for tomorrow
Plan :
a) The auction has support at 11435 and 11402
b) Buy dips to 114355
c) supply expected higher for intraday at 11497-11508 on any probe higher
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 auction
- The Day type was a normal variation day
- Vwap of the day was at 28060 with Volumes of 29.9 L and a High – Low of 2810-27914 for a range of 245 points.
- Largest Volume was traded at 28140 F today
Monthly Zones :
- The vwap of July series is at 26738 spot with POC of 26910
- The settlement day rollover volume point is at 27436 F.
Weekly Zones :
- The 27330 and 27450 zone is now a support
- The vwap of trend up on 26/07 at 27313 is also a support
Daily Zones:
- Value zones ( volume profile) are at 28150-28140-28050 for tomorrow
Plan :
a) The 28040 zone is a support
b) supply expected to be back at 28290- 28307.
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