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 Wednesday: A neutral day with range extensions on both sides, showing that larger time frame players are waiting to make a decisive move at current levels
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
————-
– A large b shaped profile which rectified much of the poor structure from yesterday
– A buer at the open who held his position at 10535
– Responsive sellers from near 10750 the previous POC
– single prints 10795-10740
Nifty :
———-
– Mkt stayed below value of yesterday
– single prints at the open
– a 3I day on poor structure
– 5437 FA point revisited
——————–
– The 3 I day concept was valid again until 2.30 as lows of the day were maintained
– Mkt rectified the poor lows of yesterday and stayed below the FA point for the most part
– large prominent POC at 5416-20 will be critical tomorrow
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
————
– SBi did the bulk of the volume in yesterday’s single prints with the prominent POC at 2212/ 2208
– Initiative buyers seen at 2170
– single prints between 2194-2170
RIL :
– High volumes at close near 905
– poor structure below 915
————–
– A normal distribution below yesterday’s lows
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 spike into the close
– failed auction point of 1681 got revisited today
– acceptance below the spike low and the HVN of 1673 will be bearish
ICICI Bank :
– Like LT, ICICI also had a ledge profile
Tata Motors :
– Tata Motors had another inside day
– single prints from yesterday weer protected
– responsive sellers at the top near 1000.
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 Wednesday: A neutral day with range extensions on both sides, showing that larger time frame players are waiting to make a decisive move at current levels
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
————-
– A large b shaped profile which rectified much of the poor structure from yesterday
– A buer at the open who held his position at 10535
– Responsive sellers from near 10750 the previous POC
– single prints 10795-10740
Nifty :
———-
– Mkt stayed below value of yesterday
– single prints at the open
– a 3I day on poor structure
– 5437 FA point revisited
——————–
– The 3 I day concept was valid again until 2.30 as lows of the day were maintained
– Mkt rectified the poor lows of yesterday and stayed below the FA point for the most part
– large prominent POC at 5416-20 will be critical tomorrow
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
————
– SBi did the bulk of the volume in yesterday’s single prints with the prominent POC at 2212/ 2208
– Initiative buyers seen at 2170
– single prints between 2194-2170
RIL :
– High volumes at close near 905
– poor structure below 915
————–
– A normal distribution below yesterday’s lows
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 spike into the close
– failed auction point of 1681 got revisited today
– acceptance below the spike low and the HVN of 1673 will be bearish
ICICI Bank :
– Like LT, ICICI also had a ledge profile
Tata Motors :
– Tata Motors had another inside day
– single prints from yesterday weer protected
– responsive sellers at the top near 1000.
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