Profile charts for 30th June

The Power Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here. A market below PP0 and moving lower is a weak market intraday and vice versa.

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 Tuesday :A normal distribution within the value area of yesterday for the most part.

Bank Nifty :

– support is at 10385 single prints.
– Single print buying tail from 10610.
– 10610-10705 buying tail will be big support for the market going forward
– Pull Back low of 10785 is another support for the short term.
– BN had a p shaped profile
– single prints at open are from 10810- 10915 and are another level of support after Friday’s single prints at 10610-10705
– poor highs at 11095 may suggest continuation
– technically a move to 11282 should be completed now once it sustains 11098

– BN had single prints above 11098 to 11130
– prominent POC at 11065 is support for tomorrow’s profile
– poor lows at 10995 represent an aborted downward auction below IB.
– BN spent the day in the single prints of 11098 to 11130 before moving higher into the close
– stayed above 11065 POC and the 11098 level mentioned above
– technically it should challenge 11282 next

Nifty :

Nifty Mp15 Profile Charts For 30Th June

– responsive buying at 5180
– single prints at 5180-5224 will support the market short term.
– Large single prints from 5334- 5382 are confirmation of the initiative buying seen the previous day
– pull back low is 5418 and new support for the market

– a p shaped profile with a minor selling tail near 5558.
– a buying tail from 5444 to 5512
– resistance at 5514 mentioned above turned into intra day support as the market bounced twice off that level intra day
– further continuation of the upmove will be above value area 5540-5516
– watch for resistance at 5558-5563

– Nf moved sideways in the value area of Monday
– The lows of today were the highs of friday where responsive buyers emerged again
-morning seller at 5558 is also the same as the seller from yesterday
– break of value and range will be the trade to take tomorrow.
– NF stayed above VAH and closed at resistance
– single prints at 5564-5576 are newest support for the market now
– Resistance at 5635/ 5650


Sbi Mp16 Profile Charts For 30Th June

– single prints 2170-2210 are new support for the market
– pull back low of 2230 should not be violated if rally has to continue in short term

– SBI showed single prints at 2264-2288
– poor highs at 2329 will suggest continuation
– 2366 is resistance to the market

– SBi repaired the poor highs of Monday
– Profile is balanced just below the 2366 resistance zone we are watching
– SBI had an open drive and closed above 2364
– single prints at 2336- 2350


Ril Mp18 Profile Charts For 30Th June

– High volumes at close near 905
– 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
– P shaped profile in RIL would indicate shorts coming out.
– auction still contained within the profile of 20/6
– RIL moved sideways again for the third day today
– RIL closed into the single prints of 17/6
– 897 and 905 are resistances

LT :
Lt Mp16 Profile Charts For 30Th June

– Initiative buyers at 1725-1758
– p shaped profile at close
– value created above 1740 previous balance high.

– LT consolidated the gains from MOnday
– swing traders can look for 1860 this week on a close above 1811.
– LT had a normal distribution and a balanced profile

ICICI Bank :

Icici Mp17 Profile Charts For 30Th June

– Large responsive buying seen at 1001-1017
– ICICI showed a p shaped profile which is indicative of short-covering
– single prints from 1036 to 1047 are support now.
– single prints at 1050-1065
– p shaped profile having value area at 1085-1071

– Balanced profile in ICICI at the top of it’s recent bracket
– 1098 is broken on closing basis can give 1122 this week.

Tata Motors :

Tata Motors13 Profile Charts For 30Th June

– Tata Motors shows a sideways to a down trend
– TTM seems to follow a pattern of a large move down followed by 2-3 days of sideways activity
– TTM was relatively quite on a day when other majors had large trend days
– range still contained in the profile of 20/6 which was 988-929
– TTM reaching the upper end of the profile of 20/6 at 988.