Nifty spot- June July

Today is expiry of July contracts and if you are looking at your screen you can be forgiven if you think that the action is similar to last series as we have the same set of prices on the screen and the activity has been eerily similar in the past few sessions.


The difference is that in June we were coming into balance from below and in July we are in balance from above.


Spotmp 0 Nifty Spot- June July


The three composites are June, early July distribution and the current balance playing out on the right.


The current structure has balance and confined within the distribution of early June.


The green horizontal lines are the value areas and the market did well to rotate to the lower value area of June as expected when it entered the value area from above.


Lots of energy in the profile and the balance still developing.


We will wait for the exit of current value at 5090 – 5136 to play the next imbalance move which again will be a vertical drive from here,