A quiet open auction which was confined closely to the IB or the first hour of the trade broke away in the last 2 hours of trade again. The bounce was expected and played out on Wednesday From the auction of the day, we get an FA at 11297 which indicated tiredness on the path of bears to extend higher. The auction was an incomplete distribution at the close and again closed in imbalance for the second straight day. The 11430 zone is the first supply point and the 11465- 11480 is supply 2 for this auction where we expect the sellers to strike back.
A weekly outlook was updated on Saturday at –https://vtrender.com/weekly-outlook-for-the-week-dated-10th-sept-to-14th-sept/
The support at 11620 has failed in the index and so has the aug vwap at 11444.
Nifty Sept F:
- The NF Open was an Open auction
- The day type was a Neutral extreme day
- Largest volume was traded at 11420 F today
- Vwap of the session was at 11351 with volumes of 117.9 L in a session which traded a High-Low range of 11430-11297 for 132 points
- FA seen at 11297 today
- 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 :
- The weekly profile is a large b with value lower indicating long liquidation
- Failed auction zone is 11650F
- The scene of crime dated 11/09 at 11455-11465
- The 11720- 11735 scene of crime zone is added supply above the FA point of 11650
- The FA at 11297 is a very important pivot for the next auction.
- Value zones ( volume profile) are at 11430- 11420- 11335 for tomorrow
a) The immediate auction now has a support at 11380 and at 11350.
b) short is right below 11350 for 11327 and 11297
c)above 11433 the NF may move to 11460 and 11510 if crossed
For tradeable ideas on these hypos and to check the OrderFlow live visit the trading room.
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BNF Sept F:
- The BNF Open was an Open auction
- The Day type was a Neutral day
- Vwap of the day was at 26860 with Volumes of 51.1 L and a High – Low of 27030-26706 for a range of 322 points.
- Largest Volume was traded at 26835 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 :
- Supply is heavy at 27760 F
- The 28170 F and 27900 F has also heavy sell side volumes
- spike zone is 27960- 28130.
- Value zones ( volume profile) are at 26910-26835-26720 for tomorrow
a) The 26870 zone is a support
b) the 27065- 27085 zone has old supply
c) Failure below 26870 can send it quickly down to 26760 and 26700
For tradeable ideas on these hypos and to check the OrderFlow Live visit the trading room.