The spike down yesterday saw Initiative selling at the open and the auction drifted lower testing 11650 Aug F again where once again demand was seen rising and the auction closed at session highs. The series of August was closed at a vwap of 11444 and the clsoe of the series near 11676 spot today showed how much the Buyers had dominated the auction through August. The Banknifty closed at 28103 today and the series of August was traded with a vwap of 27923. Highest volume during August was traded at 11480 on the spot and at 28280 in the BankNifty . We are expecting a pullback to 11400 in the sessions of the coming series which would be a good spot to re-examine a long position for the month ahead.
A weekly outlook was updated on Saturday at –https://vtrender.com/weekly-outlook-for-the-week-dated-27th-to-31st-august/
Nifty Sept F:
- The NF Open was an Open drive down
- The day type was a Normal Variation day
- Largest volume was traded at 11723 F today
- Vwap of the session was at 11720 with volumes of 93.2 L in a session which traded a High-Low range of 11757-11694 for 64 points
Monthly Zones:
- The vwap of the Aug series is at 11444 spot and the POC was at 11400
- The settlement day (Aug ) rollover volume point is at 11739 F.
- Highest Rollover point was at 11772 Sept F
Weekly Zones :
- Immediate support at 11690F for now.
- second zone of support is at 11618
Daily Zones:
- Value zones ( volume profile) are at 11731-11723-11708 for tomorrow
Plan :
a) The auction has support at 11690
b) the second zone of support is at 11650
c) the objective of the rise is at 11776
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 Sept F:
- The BNF Open was an Open drive down
- The Day type was a Normal day
- Vwap of the day was at 28189 with Volumes of 18.6 L and a High – Low of 28343-28124 for a range of 218 points.
- Largest Volume was traded at 28170 F today
Monthly Zones :
- The vwap of Aug series is at 27923 spot with POC of 28280
- The settlement day rollover volume point (aug) is at 28232 F.
- Highest Rollover point was at 28232 Sept F
Weekly Zones :
- The 28000 is now a support
- The 28110 zone is a higher support
- supply still dominant near 28400
Daily Zones:
- Value zones ( volume profile) are at 28215-28170-28142 for tomorrow
Plan :
a) The 28180 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