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: Another range bound day with the profile remaining within the profile of 1/7.
Bank Nifty :
– responsive buying from 11175 which is the POC of the balanced profile from 29/6
– 11195-11175 single prints will support the market.
– staying above the single prints of friday can bring 11519 later in the week.
– support for the week will be at 11125, the open drive level of 29/6
—————
– An initiative buyer at the open who held fort throughout the day
– profile is bell shaped which would mean a vertical move around the corner
– prominent poc at 11380 is support for the market rise.
————-
– vertical move happened in the afternoon which took out the selling prints of the morning.
– poor highs at 11475
– 11520- 11540 represent a resistance zone.
Nifty :
– 5620 represents a failed auction point.
————–
– NF had a failed auction revisit and a double distribution
– single print selling at 5702-5684 will be resistance now
– Only a move above 5702 can bring 5742 and 5808 later in the week.
– poor lows at 5616
————-
– Auction in the upper incomplete bell of friday
– an inside day and a bell shaped profile
– 5666 and 5639 are the prominent poc for the 2 bells and imp ref points.
———-
– single print seller at 5670 to 5662
– profile within the profile of 1/7.
SBI :
– SBI shows poor highs at 2440 which needs to be repaired.
– single print buying between 2392-2400 at the open.
————-
– poor highs remain
– profile showing sideways 2 day distribution after a big upmove.
————-
– Random distribution above the poor highs of the last 2 sessions
————
– an incomplete DD
– poor highs at 2490
– resistance at 2492-2498
– single prints at 2458- 2474 are an imp ref point.
RIL :
– a balanced distribution in the area of previous single prints.
– 907 is resistance.
——
– RIL shows a single print seller at 910
– profile is iregular with another seller at 880
– support should cone near 849 HVN during the week
————
– auction in the single prints of friday for the most part
———–
– a DD
– 849 is an HVN
– we will look at 849- 860 and 863-874 as 2 separate auctions for bias for today
LT :
————
– LT showed a seller at 1854
– single prints between 1854-1839
———-
– seller again at the open in LT
– single print seller at 1834-1824
——–
– again single prints in LT at 1819-1813
– higher levels are getting sold.
ICICI Bank :
– AN NV day in ICICI where the bias moved lower during intra day
——-
– Profile is sideways after a 100 point up move last month
Tata Motors :
——-
– Tata motors shows a p shape profile above the HVN of 994
– 1-15 is resistance HVN
– accepatance abv 1015 can bring 1035 later in the week.
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: Another range bound day with the profile remaining within the profile of 1/7.
Bank Nifty :
– responsive buying from 11175 which is the POC of the balanced profile from 29/6
– 11195-11175 single prints will support the market.
– staying above the single prints of friday can bring 11519 later in the week.
– support for the week will be at 11125, the open drive level of 29/6
—————
– An initiative buyer at the open who held fort throughout the day
– profile is bell shaped which would mean a vertical move around the corner
– prominent poc at 11380 is support for the market rise.
————-
– vertical move happened in the afternoon which took out the selling prints of the morning.
– poor highs at 11475
– 11520- 11540 represent a resistance zone.
Nifty :
– 5620 represents a failed auction point.
————–
– NF had a failed auction revisit and a double distribution
– single print selling at 5702-5684 will be resistance now
– Only a move above 5702 can bring 5742 and 5808 later in the week.
– poor lows at 5616
————-
– Auction in the upper incomplete bell of friday
– an inside day and a bell shaped profile
– 5666 and 5639 are the prominent poc for the 2 bells and imp ref points.
———-
– single print seller at 5670 to 5662
– profile within the profile of 1/7.
SBI :
– SBI shows poor highs at 2440 which needs to be repaired.
– single print buying between 2392-2400 at the open.
————-
– poor highs remain
– profile showing sideways 2 day distribution after a big upmove.
————-
– Random distribution above the poor highs of the last 2 sessions
————
– an incomplete DD
– poor highs at 2490
– resistance at 2492-2498
– single prints at 2458- 2474 are an imp ref point.
RIL :
– a balanced distribution in the area of previous single prints.
– 907 is resistance.
——
– RIL shows a single print seller at 910
– profile is iregular with another seller at 880
– support should cone near 849 HVN during the week
————
– auction in the single prints of friday for the most part
———–
– a DD
– 849 is an HVN
– we will look at 849- 860 and 863-874 as 2 separate auctions for bias for today
LT :
————
– LT showed a seller at 1854
– single prints between 1854-1839
———-
– seller again at the open in LT
– single print seller at 1834-1824
——–
– again single prints in LT at 1819-1813
– higher levels are getting sold.
ICICI Bank :
– AN NV day in ICICI where the bias moved lower during intra day
——-
– Profile is sideways after a 100 point up move last month
Tata Motors :
——-
– Tata motors shows a p shape profile above the HVN of 994
– 1-15 is resistance HVN
– accepatance abv 1015 can bring 1035 later in the week.
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