The Power Levels for tomorrow and possible areas of demand and supply are uploaded in an excel sheet here.
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: The market is still in a sideways mode operating within the weekly value of last week.
Bank Nifty :
– Bn exhibited an open drive and a p shaped structure caused by short covering early
– value areas 10905-10855 will be watched for tomorrow’s development
– single prints from 10820 to 10760
——
– BN has got a selling tail at top and poor low below
– the poor low of 10750 has to be visited and rectified
– profile of today filled the single prints of yesterday after being rejected near the POC
– 10700 is an HVN and good support below today’s lows
Nifty :
– NF covered today the single/ double prints from friday last
– the region of 5590 is the upper value area as well as weekly value high from last week. This will be watched for further auction
– single prints 5516 to 5508
———-
– NF still within 5470-5608 range
– only break of this range can set a directional bias to the index
SBI :
– SBI had open drive from 2304 single prints
– Minor seller at the top near 2342
———-
– 5th day of sideways movement in sbi
RIL :
– OTF buying in RIL from 938 to 947
– 964 is an hvn from friday last
– 979/ 1003 are the HVN’s abv 964
————–
– RIL stayed abv the single prints at 947 mentioned yesterday
– 964 is an HVN which will resist upmoves
LT :
– Minor seller near 1730 at open
– fairly balanced distribution in the value area of yesterday
– inside day
——————-
–
ICICI Bank :
– Minor single prints from 1052 to 1059
– distribution in the upper part of yesterday’s profile
———–
– ICICI profile of today shows an incomplete distribution.
Tata Motors :
– 3 day structure is looking like a b in TTM
– Unlike NF/ Bn and others, TTM did not auction in the upper part of friday’s distribution.
———-
– Tata Motors filled the single prints of 3/6 profile but was not able to carry momentum upwards
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: The market is still in a sideways mode operating within the weekly value of last week.
Bank Nifty :
– Bn exhibited an open drive and a p shaped structure caused by short covering early
– value areas 10905-10855 will be watched for tomorrow’s development
– single prints from 10820 to 10760
——
– BN has got a selling tail at top and poor low below
– the poor low of 10750 has to be visited and rectified
– profile of today filled the single prints of yesterday after being rejected near the POC
– 10700 is an HVN and good support below today’s lows
Nifty :
– NF covered today the single/ double prints from friday last
– the region of 5590 is the upper value area as well as weekly value high from last week. This will be watched for further auction
– single prints 5516 to 5508
———-
– NF still within 5470-5608 range
– only break of this range can set a directional bias to the index
SBI :
– SBI had open drive from 2304 single prints
– Minor seller at the top near 2342
———-
– 5th day of sideways movement in sbi
RIL :
– OTF buying in RIL from 938 to 947
– 964 is an hvn from friday last
– 979/ 1003 are the HVN’s abv 964
————–
– RIL stayed abv the single prints at 947 mentioned yesterday
– 964 is an HVN which will resist upmoves
LT :
– Minor seller near 1730 at open
– fairly balanced distribution in the value area of yesterday
– inside day
——————-
–
ICICI Bank :
– Minor single prints from 1052 to 1059
– distribution in the upper part of yesterday’s profile
———–
– ICICI profile of today shows an incomplete distribution.
Tata Motors :
– 3 day structure is looking like a b in TTM
– Unlike NF/ Bn and others, TTM did not auction in the upper part of friday’s distribution.
———-
– Tata Motors filled the single prints of 3/6 profile but was not able to carry momentum upwards
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