The auction on Tuesday was in the same zone as Monday’s upper-value area and indicated an acceptance of the higher prices in the auction. The path of least resistance continues to be upwards till sellers initiate a new auction lower on volumes.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-20th-to-24th-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 day
- Largest volume was traded at 11586 F today
- Vwap of the session was at 11573 with volumes of 51.9 L in a session which traded a High-Low range of 11592-11553 for 39 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 11350/ 11395 for now.
- The vwap of trend up on 03/08 at 11360 is also a support
- Supply could come back higher at 11660 F next.
Daily Zones:
- Value zones ( volume profile) are at 11588-11585-11564 for tomorrow
Plan :
a) The auction has support at 11551
b) the second zone of support is at 11500
c) supply expected higher for intraday at 11613 and 11627 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 28260 with Volumes of 20.3 L and a High – Low of 28360-28189 for a range of 171 points.
- Largest Volume was traded at 28280 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 27760 is now a support
- The vwap of trend up on 03/08 at 27670 is also a support
Daily Zones:
- Value zones ( volume profile) are at 28290-28280-28245 for tomorrow
Plan :
a) The 28210 zone is a support
b) supply expected to be back at 28380 and 28440
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