The trend down which started from the composite balance yesterday continued lower today and the inventory adjustments on settlement day further fueled the move down to 10550 F today. The imbalance objective of the trend down sits at 10540 F ( 10514 spot) where we await fresh cues on what the auction wants to do next.
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 July F:
- The NF Open was an Open auction which drove lower from E period
- The day type was a Triple distribution day
- Largest volume was traded at 10572 F today
- Vwap of the session was at 10608 with volumes of 139.3 L in a session which traded a High-Low range of 10674-10550 for 123 points.
Monthly Zones:
- The vwap of June series is at 10737 spot
- The POC of June series was at 10760 spot
- The vwap of the May series was at 10669 spot and the POC was at 10736.
- The settlement day rollover volume point is at 10572 F.
Weekly Zones :
- Immediate supply at 10670 F for now.
- Second zone of supply would be at 10777 F
- The first layer of Support lower at 10530 F now
Daily Zones:
- Value zones ( volume profile) are at 10626-10572-10556 for tomorrow
Plan :
a)support expected at 10530. Watch for Buyers in the OrderFlow here
b)Holding 10530 can bounce to 10570.
c) Above 10570 likely to do 10610 where selling expected again
d) Below 10530 slips to 10485 vpoc.
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 which trended lower from E
- The Day type was a Normal Variation day
- Vwap of the day was at 26292 with Volumes of 21.8 L and a High – Low of 26439-26136 for a range of 303 points.
- Largest Volume was traded at 26217 F today
Monthly Zones :
- The vwap of June series is at 26522 spot
- The POC of June series was at 26544 spot
- The vwap of May series was at 26091 spot with POC of 25744
- The settlement day rollover volume point is at 26217 F.
Weekly Zones :
- The 26470 zone was broken and is now a supply
- The 26210 zone have repeatedly shown demand
- The old seller at 26800 is still very active.
Daily Zones:
- Value zones ( volume profile) are at 26322-26217-26155 for tomorrow
Plan :
a) The auction has support at 26130 F
b) The 26010- 26030 also a good support and likely to hold
b) an upmove to 26330 can meet long liquidation
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