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.
Whilst using the Order Flow 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
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Friday: A larger distribution at the previous day’s POC, which remained in the value area of the previous day.
Bank Nifty :
Back Ground :
Chart Speak :
– large POC at 11250 projects a likelihood of the market auctioning in this zone on Monday morning or returning back to this place should it gap up/ down.
– break of value 11290- 11225 should setup a good trade
– support for the week is at 11106 and resistance at 11466.
Nifty :
Background :
– 5617 represents a failed auction point.
– A failed auction at 5594
Chart speak :
– large prominent POC at 5583
– value area at 5598- 5571 can project the next trade
– support for the week is at 5511 and resistance may be seen at 5675
– range bound environment.
SBI :
Back Ground
– single print buying between 2392-2400 at the open.
– large balanced profile with a prominent poc at 2410
Chart Speak :
– selling prints from the HVN of 2506
– prominent POC at 2478 can decide the bias
– above the HVN of 2506, sbi can target 2527 again, beyond which it should rise to 2580 again.
– support for the week is at 2425
RIL :
BackGround :
– 907 is resistance.
– RIL shows a single print seller at 910
– profile is irregular with another seller at 880
– support should come near 849 HVN during the week
– responsive buying near 845 seen.
– large volumes showing up at 851.
Chart Speak :
– inside day in RIL
– 9th day of sideways development in RIL between 844 and 880
– very prominent poc at 865 is a support.
– Value area high 876 confirmed by break of range at 884 can set up a lucrative long trade.
LT :
BackGround
Chart speak :
– Large volumes at 1812 can support any rise in LT
– profile can target 1847 and 1885 on the long side.
ICICI Bank :
Back Ground :
Chart Speak :
– a large b shaped profile with a very prominent POC at 1063
– b shape is bearish
– a break of 1060 can set up a trade to 1052
Tata Motors :
Back Ground :
Chart speak :
– large open drive down with single prints at 1031-1056
-profile is b shaped but balanced in the lower half of Thursday’s profile with single prints 1005-1014 below.
– a break of value 1027- 1014 can cause single prints either side to fill.
Whilst using the Order Flow 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
Today’s updated comments are displayed in bold. Comments from yesterday and the previous days are above the bold print.
Broader market of Friday: A larger distribution at the previous day’s POC, which remained in the value area of the previous day.
Bank Nifty :
Back Ground :
Chart Speak :
– large POC at 11250 projects a likelihood of the market auctioning in this zone on Monday morning or returning back to this place should it gap up/ down.
– break of value 11290- 11225 should setup a good trade
– support for the week is at 11106 and resistance at 11466.
Nifty :
Background :
– 5617 represents a failed auction point.
– A failed auction at 5594
Chart speak :
– large prominent POC at 5583
– value area at 5598- 5571 can project the next trade
– support for the week is at 5511 and resistance may be seen at 5675
– range bound environment.
SBI :
Back Ground
– single print buying between 2392-2400 at the open.
– large balanced profile with a prominent poc at 2410
Chart Speak :
– selling prints from the HVN of 2506
– prominent POC at 2478 can decide the bias
– above the HVN of 2506, sbi can target 2527 again, beyond which it should rise to 2580 again.
– support for the week is at 2425
RIL :
BackGround :
– 907 is resistance.
– RIL shows a single print seller at 910
– profile is irregular with another seller at 880
– support should come near 849 HVN during the week
– responsive buying near 845 seen.
– large volumes showing up at 851.
Chart Speak :
– inside day in RIL
– 9th day of sideways development in RIL between 844 and 880
– very prominent poc at 865 is a support.
– Value area high 876 confirmed by break of range at 884 can set up a lucrative long trade.
LT :
BackGround
Chart speak :
– Large volumes at 1812 can support any rise in LT
– profile can target 1847 and 1885 on the long side.
ICICI Bank :
Back Ground :
Chart Speak :
– a large b shaped profile with a very prominent POC at 1063
– b shape is bearish
– a break of 1060 can set up a trade to 1052
Tata Motors :
Back Ground :
Chart speak :
– large open drive down with single prints at 1031-1056
-profile is b shaped but balanced in the lower half of Thursday’s profile with single prints 1005-1014 below.
– a break of value 1027- 1014 can cause single prints either side to fill.
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