A trend day in the Nifty and the BankNifty on Friday ensured a close near session highs and a revisit to the Failed auction ( FA) zone of 10838 on day T+5. Auctions have a way of working and the process looks complicated on the outside but trading setups like FA are a must in a Traders’s arsenal and you can only gain an additional advantage by knowing about it and incorporating it in a trading process.
A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-25th-june-to-29th-june/
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 auction
- The day type was a Normal Variation day
- Largest volume was traded at 10763 F today
- Vwap of the session was at 10765 with volumes of 93.7 L in a session which traded a High-Low range of 10849-10712 for 137 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 :
- Immediate support lower at 10706 F for now.
- The second layer of Support lower at 10640 F now
- Overcoming supply at 10840 can push the index higher to 10923 again.
Daily Zones:
- Value zones ( volume profile) are at 10809-10763-10713 for tomorrow
Plan :
a)Holding below 10860F the Nifty likely to test 10809 and 10777 again
b) Watch 10777 zone to see if buyers respond again
c) A move above 10860 can take it higher to 10896
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 drive down which met with failure
- The Day type was a Normal Variation day
- Vwap of the day was at 26536 with Volumes of 35.2 L and a High – Low of 26830-26360 for a range of 470 points.
- Largest Volume was traded at 26532 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 :
- To be updated ( watch for the weekly report due later)
Daily Zones:
- Value zones ( volume profile) are at 26698-26532-26365 for tomorrow
Plan :
a) Holding below 26860 near the open the BNF likely to test 26705 and 26600
b) watch for supporting buying to come near 26560- 26600 zone
c) Above 26860 at the open the BNF can run higher to 26995.
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