The Nifty dropped lower today as the Buyers failed to defend 10820- 35 F at the open and 26550 in the BankNifty, the levels we had mentioned in yesterday’s posts. But down at the end of the first hour there was a visible absorption of supply and responsive buying emerged a while later and the indices moved to session highs as a result. We believe in monitoring the movement of volumes Live and in itself it can produce a huge edge in knowing what price can do next.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-fo-the-week-dated-11th-june-to-15th-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:
- The NF Open was an Open drive lower
- The day type was a Neutral day
- Largest volume was traded at 10787 F today
- Vwap of the session was at 10802 with volumes of 76.1 L in a session which traded a High-Low range of 10834-10770 for 63 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 auction has moved into a new bracket between 10660 on the lower side and 10840 higher
- An 5-day mini composite range is 10760- 10865F.
- Immediate support lower at 10660 F for now.
- The second layer of Support lower at 10570 F now
- Overcoming supply at 10840 can push the index higher to 10923 again.
Daily Zones:
- Value zones ( volume profile) are at 10815-10787-10783 for tomorrow
Plan :
a) The 10787 buyer is the new support area
b) supply defined now at 10834 and 10857 higher
c) could be a quiet auction within the range
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:
- The BNF Open was an Open auction
- The Day type was a Neutral day
- Vwap of the day was at 26560 with Volumes of 32.6 L and a High – Low of 26647-26476 for a range of 171 points.
- Largest Volume was traded at 26670 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 26617-26570-26530 for tomorrow
Plan :
a) the 26650 zone has reshown supply
b) the 26520 and 26460 zones show buyers willing to absorb supply
c) plan is to trade the range
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