Profile charts for 21st June

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 Monday :The market broke out of it’s recent range, but met responsive buyers at swing lows.

Bank Nifty :

Bank Nifty Mp242 Profile Charts For 21St June

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– An inside day in the BN with a normal distribution in the value area of 16/6
– break of value will set-up a high probability trade on Monday
-single prints at 10535-10565 and 10695-10735 needs to be monitored on break of value
– prominent POC at 10750 remains
—————
– BN broke out of Friday’s normal distribution by moving lower and creating value lower
– responsive buyers at 10335 swing lows from 25/5
– single print buyers 10285-10335
– minor selling tail at top


Nifty :

Nifty Mp9 Profile Charts For 21St June



– 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
————
– A large b shaped profile would indicate longs liquidation
– selling prints at 5424-5400
– poor lows at 5360 need to be revisited
– HVN at 5346 is the last support

———–
– A initiative seller at the open with single prints at 5348-5376
– responsive buying at 5180
– single prints at 5180-5224 will support the market short term.
– POC at 6264 is critical for the day



SBI :

Sbi Mp9 Profile Charts For 21St June


– Larger monthly trend is sideways
– lows at 2170 inviting short covering on 25/5, 26/5 and recently on 16/6.
– HVN of bal profile at 2244 is resistance to upside moves
– single prints between 2190-2170
– An inside day
– Break of value can set up a good trade to be monitored at the HVN and single prints

————–
– single print selling 2228-2206
– responsive buying 2154-2124


RIL :

Ril Mp10 Profile Charts For 21St June




– High volumes at close near 905
– poor structure below 915
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– A normal distribution below yesterday’s lows
————-
– RIL will continue to be weak below those heavy volumes at 906
– We are waiting for sideways distribution ( step 2) to confirm a pause in the downtrend from 960.
– single prints 895-885
– a spike into the close
– acceptance below the spike will be a new auction.
———-
– RIL stayed below the spike lows and continues lower
– prominent POC at 852
– profile looks incomplete in the lower part of the day


LT :

Lt Mp91 Profile Charts For 21St June


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– LT established value lower than 16/6
– A breakdown below 1673 was averted by responsive buying at the lows.
– The possibility of LT moving down to 1638 is still possible if it trades below the single prints & the HVN at 1673
———–


ICICI Bank :

Icici Mp9 Profile Charts For 21St June


– Larger monthly trend is still sideways
– An inside day spent in the value of 16/6
– break of value and then range will set up a good intra day trade
————-
– Large responsive buying seen at 1001-1017


Tata Motors :

Tata Motors6 Profile Charts For 21St June


– Tata Motors shows a sideways to a down trend
– Double inside day on friday
————-
– TTM rejected the balance area of the previous few days by moving lower
– a revisist to the bal zone of 877-1001 will be met with more selling.

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