he 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 Tuesday: A seller at the open converted the day to a 3I day, with a high possibility of lows being established in the first hour tomorrow
Bank Nifty :
– A seller at the open again at 10780-10835
– lows of the day were near the lows of 10/6 and 13/ 6
– Large volumes into the close at 10630
– Prominent POC ( price) at 10750
– poor structure in the day
Nifty :
– The market showed responsive buying/ short covering with minor single 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
———–
– A DD and a failed auction were the highlight of the day
– Failed auction at 5437 NF
– the upper distribution zone between 5510 and the single prints at 5478 will be in focus.
———-
– Mkt stayed below value of yesterday
– single prints at the open
– a 3I dayn on poor structure
– 5437 FA point revisited
SBI :
————
– SBI had a fairly normal distribution with poc at 2234
– a normal distribution for second day today, with the bulk of the volume above yesterday’s poc
————-
– Today was a double distribution with 2216 separating the 2 auctions
– we treat DD as 2 separate daya
-SBi will remain weak below the 2210-2190 lower distribution
RIL :
– High volumes at close near 905
– poor structure below 915
LT :
———————-
– LT had a DD and a failed auction
– upper distribution between 1717 and 1700
————
– LT is again at top of the bracket near 1740 where it met sellers previously.
– single prints btw 1725 and 1718
———–
– LT had a seller near the top again
– a normal distribution today will mean a directional move tomorrow.
ICICI Bank :
– Revisited poor lows from 13/6 today
–
Tata Motors :
– TTM showed a normal distribution and a double inside day
———–
– TTM had a b shaped profile after coming out of 3 day balance.
– an auction below today’s lows will invite more sellers.
————-
– TTM showed responsive buyers at the open
– single prints at 978 to be watched
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 Tuesday: A seller at the open converted the day to a 3I day, with a high possibility of lows being established in the first hour tomorrow
Bank Nifty :
– A seller at the open again at 10780-10835
– lows of the day were near the lows of 10/6 and 13/ 6
– Large volumes into the close at 10630
– Prominent POC ( price) at 10750
– poor structure in the day
Nifty :
– The market showed responsive buying/ short covering with minor single 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
———–
– A DD and a failed auction were the highlight of the day
– Failed auction at 5437 NF
– the upper distribution zone between 5510 and the single prints at 5478 will be in focus.
———-
– Mkt stayed below value of yesterday
– single prints at the open
– a 3I dayn on poor structure
– 5437 FA point revisited
SBI :
————
– SBI had a fairly normal distribution with poc at 2234
– a normal distribution for second day today, with the bulk of the volume above yesterday’s poc
————-
– Today was a double distribution with 2216 separating the 2 auctions
– we treat DD as 2 separate daya
-SBi will remain weak below the 2210-2190 lower distribution
RIL :
– High volumes at close near 905
– poor structure below 915
LT :
———————-
– LT had a DD and a failed auction
– upper distribution between 1717 and 1700
————
– LT is again at top of the bracket near 1740 where it met sellers previously.
– single prints btw 1725 and 1718
———–
– LT had a seller near the top again
– a normal distribution today will mean a directional move tomorrow.
ICICI Bank :
– Revisited poor lows from 13/6 today
–
Tata Motors :
– TTM showed a normal distribution and a double inside day
———–
– TTM had a b shaped profile after coming out of 3 day balance.
– an auction below today’s lows will invite more sellers.
————-
– TTM showed responsive buyers at the open
– single prints at 978 to be watched
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