The Power Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
Whilst using the OrderFlow charts, it is necessary to book profits at each of the levels mentioned. Thus a BUY signal can be booked at the closest PR1, PR2, PR3 with every preceding level becoming a stop loss for the existing order. Depending on how the smaller OF reacts , one can re-initiate the booked order
All levels are taken from that excel sheet. We will discuss auction theory, role of buyers and sellers and market structure in these next few lines.
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Friday: The expected break of range may have happened on Friday.A confirmation would be the IB of monday
Bank Nifty :
——
– BN has got a selling tail at top and poor low below
– the poor low of 10750 has to be visited and rectified
– profile of today filled the single prints of yesterday after being rejected near the POC
– 10700 is an HVN and good support below today’s lows
——
– Profile continues to show minor selling tail at top and poor lows at bottom
– 2 day structure is still incomplete at the lows with no signs of excess.
———
– The market closed at the HVN of 10700 mentioned above
– Profile shows single print selling from 10815 to 10765
– 10440 to 10510 is longer time frame support
Nifty :
– a balanced profile in NF would mean that break of the range is imminent
– exit of value is a proper strategy for tomorrow with a stop just below the edge of value.
————
– The market showed responsive buying/ short covering with minor sigle prints near 5450
– the single prints from 5438 to 5414 are the biggest support to the market now.
– Minor selling prints also near 5518 at the open
SBI :
———-
– SBI had a b shape profile indicating long liquidation
– 2286 and 2270 are the value areas and imp to see where the next auction takes place (above or below)
– the b may also indicate that step 4 vertical move may be beginning again in sbi
—————
– SBI dropped about 55 points after the b shape seen on thursday
– 2204 HVN is a support to be watched
RIL :
——-
– RIL was stuck today again between 964 HVN and 947 single prints
– there’s an easy 10-17 points either side to 979 or 930 intra day or in 2 sessions
————
– RIL created volumes in the single prints below 947 before closing right there
– 830 is an HVN to be watched for support
LT :
——————-
– LT had poor highs but high volume near the top
– 1740 represents the top of the recent 4 day trading range
– single print buyers at base of profile for the 4th day in a row would indicate that a break up upside is imminent
———–
– Large vol at Thurs close turned out to be sellers and upside breakout did not materialize
– The structure of friday is weak and the market can retrace right upto POC 1719
– 1673 is an HVN which is good support
ICICI Bank :
– profile of yesterday was balanced today
– overall past 3 days confined to the profile of 6/6 which has a poor low around 1039
– inside day today
——
– ICICI has a seller at the top near 1053 levels ( single prints)
Tata Motors :
– tata motors has a seller at the open for the past 7 in 10 days
– since results day, most of the profiles have been b which indicate longs moving out
– a close above vah will confirm a minor change in short term trend
——–
– TTM was locked in a small range and had a balance profile with normal distribution.
– an inside day on friday
Whilst using the OrderFlow charts, it is necessary to book profits at each of the levels mentioned. Thus a BUY signal can be booked at the closest PR1, PR2, PR3 with every preceding level becoming a stop loss for the existing order. Depending on how the smaller OF reacts , one can re-initiate the booked order
All levels are taken from that excel sheet. We will discuss auction theory, role of buyers and sellers and market structure in these next few lines.
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Friday: The expected break of range may have happened on Friday.A confirmation would be the IB of monday
Bank Nifty :
——
– BN has got a selling tail at top and poor low below
– the poor low of 10750 has to be visited and rectified
– profile of today filled the single prints of yesterday after being rejected near the POC
– 10700 is an HVN and good support below today’s lows
——
– Profile continues to show minor selling tail at top and poor lows at bottom
– 2 day structure is still incomplete at the lows with no signs of excess.
———
– The market closed at the HVN of 10700 mentioned above
– Profile shows single print selling from 10815 to 10765
– 10440 to 10510 is longer time frame support
Nifty :
– a balanced profile in NF would mean that break of the range is imminent
– exit of value is a proper strategy for tomorrow with a stop just below the edge of value.
————
– The market showed responsive buying/ short covering with minor sigle prints near 5450
– the single prints from 5438 to 5414 are the biggest support to the market now.
– Minor selling prints also near 5518 at the open
SBI :
———-
– SBI had a b shape profile indicating long liquidation
– 2286 and 2270 are the value areas and imp to see where the next auction takes place (above or below)
– the b may also indicate that step 4 vertical move may be beginning again in sbi
—————
– SBI dropped about 55 points after the b shape seen on thursday
– 2204 HVN is a support to be watched
RIL :
——-
– RIL was stuck today again between 964 HVN and 947 single prints
– there’s an easy 10-17 points either side to 979 or 930 intra day or in 2 sessions
————
– RIL created volumes in the single prints below 947 before closing right there
– 830 is an HVN to be watched for support
LT :
– LT had poor highs but high volume near the top
– 1740 represents the top of the recent 4 day trading range
– single print buyers at base of profile for the 4th day in a row would indicate that a break up upside is imminent
———–
– Large vol at Thurs close turned out to be sellers and upside breakout did not materialize
– The structure of friday is weak and the market can retrace right upto POC 1719
– 1673 is an HVN which is good support
ICICI Bank :
– profile of yesterday was balanced today
– overall past 3 days confined to the profile of 6/6 which has a poor low around 1039
– inside day today
——
– ICICI has a seller at the top near 1053 levels ( single prints)
Tata Motors :
– tata motors has a seller at the open for the past 7 in 10 days
– since results day, most of the profiles have been b which indicate longs moving out
– a close above vah will confirm a minor change in short term trend
——–
– TTM was locked in a small range and had a balance profile with normal distribution.
– an inside day on friday
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