Profile charts for 2nd August

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 Monday
: Gap up open gave the highs of the day, before the market gave up all it’s gains through a range extension below IB lows.

Bank Nifty :

Bank Nifty Mp203 Profile Charts For 2Nd August

Back Ground : 2 balanced profiles in last 2 sessions.

Chartspeak :

– Value established higher, close above the previous day’s POC
– poor highs at 11070
– small bounce from previous day’s POC
– 10862 is support tomorrow

Nifty :

Nifty Mp Profile Charts For 2Nd August

Background : Outside day with 2 balanced profiles.

Chartspeak :

– selling from the HVN of 5553
– support was met at the previous day’s POC at 5490

– 5514 is critical for an upside auction tomorrow.

ICICI Bank :

Icici Mp Profile Charts For 2Nd August

BackGround :

– Single prints below 1015 to 1004 represent a failed auction.

ChartSpeak :

– A balanced distribution above the volume poc of FRIDAY
– prominent poc at 1050