We got a Normal day in the markets today as balance returned to the auction especially in the Nifty after 2 sessions. The open rejection of the morning was met with sharp responsive buying/ short covering and once again the indices closed near their highest point. Into settlement week the theme remains short covering and all dips are likely to be met with short selling covering positions especially the calls. After the 11600 and 11650 call writers covered yesterday, it was the turn of the 11700 writers who have covered most of their short positions as of today’s close. The focus is now on the 11750 call writers who had a bulk of their positions written around 15 and find themselves underwater with price at 36 now.
A weekly outlook was updated on Saturday at –https://vtrender.com/weekly-outlook-for-the-week-dated-27th-to-31st-august/
We have since moved away from the 3-1-3 view highlighted over the weekend and could close the series at the highest point subject to 11700 F holding.
Nifty Aug F:
- The NF Open was an Open rejection
- The day type was a Normal day
- Largest volume was traded at 11742 F today
- Vwap of the session was at 11738 with volumes of 103.5 L in a session which traded a High-Low range of 1171-11715 for 46 points.
Monthly Zones:
- The vwap of the Aug series is at 11408 spot and the POC was at 11400
- The settlement day (JULY) rollover volume point is at 11156 F.
Weekly Zones :
- Immediate support at 11646/11600 for now.
- vwap of trend day of 27/08 at 11670 also a support
Daily Zones:
- Value zones ( volume profile) are at 11746-11742-11726 for tomorrow
Plan :
a) The auction has support at 11720
b) the second zone of support is at 11700
c) the objective of the rise is at 11807 and 11873 above 11765
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 rejection reverse
- The Day type was a Normal day
- Vwap of the day was at 28245 with Volumes of 30.1 L and a High – Low of 28408-28160 for a range of 248 points.
- Largest Volume was traded at 28200 F today
Monthly Zones :
- The vwap of Aug series is at 27884 spot with POC of 28288
- The settlement day rollover volume point (JULY) is at 27436 F.
Weekly Zones :
- The 28130 is now a support
- The vwap of trend up on 27/08 at 28210 is also a support
- objective of the rise is at 28356 and 28448
Daily Zones:
- Value zones ( volume profile) are at 28285-28200-28162 for tomorrow
Plan :
a) The 28200 zone is a support
b) supply still prevalent at 28356.
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