The Prime Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
The most important number to watch in the sheet is Prime Point Zero or (PP0) which is the level where the market is neutral for the day.A market below PP0 and moving lower is a weak market intraday and vice versa.A BUY signal can be booked at the closest PR1, PR2, PR3 and a sell signal at PS1, PS2 or PS3.
Broader Market of Tuesday : A market which operated in the value area of Friday, with a spike to close the session
Bank Nifty :
Back Ground : – Dominant seller at 10525. A DD on Friday
Chart speak :
1) Large volumes in the single prints of Friday
2) overall volume was lower on sell off
Nifty :
Background : – Huge gap between 5325 and 5233 which is a single print seller.
– A failed auction at 5233
– single print buying from 4950 to 5010
Chartspeak :
1) Large selling volumes in the single prints of friday
2) spike from 5054 to 5004.
3) acceptance below the spike lows increases the bearish momentum
4) single print selling from 5055
The most important number to watch in the sheet is Prime Point Zero or (PP0) which is the level where the market is neutral for the day.A market below PP0 and moving lower is a weak market intraday and vice versa.A BUY signal can be booked at the closest PR1, PR2, PR3 and a sell signal at PS1, PS2 or PS3.
Broader Market of Tuesday : A market which operated in the value area of Friday, with a spike to close the session
Bank Nifty :
Back Ground : – Dominant seller at 10525. A DD on Friday
Chart speak :
1) Large volumes in the single prints of Friday
2) overall volume was lower on sell off
Nifty :
Background : – Huge gap between 5325 and 5233 which is a single print seller.
– A failed auction at 5233
– single print buying from 4950 to 5010
Chartspeak :
1) Large selling volumes in the single prints of friday
2) spike from 5054 to 5004.
3) acceptance below the spike lows increases the bearish momentum
4) single print selling from 5055
[learn_press_profile]