The Prime Levels for tomorrow are possible areas of demand and supply and the same are uploaded in an excel sheet here.
Broader Market of Friday : A normal variation day with a close at the opper extremes of the day today as opposed to Thursday .
Bank Nifty October series :
Background :
1) Markets above the previous resistance zone of 9380
2) FA Point of 9664 visited.
3) Balanced profile with a prominent POC at 9390
4) A breakout of this balanced profile can give a 320 point move in one direction.
Thursday’s charts :
1) A failed auction at 9664
2) A move above the FA point of 9664 is a new IPM.
3) Balanced profile with a prominent POC at 9390
4) A breakout of this balanced profile can give a 320 point move in one direction.
5) Exit of value n range is the best strategy for this market.
Friday’s charts :
1) Fa at 9664 revisited on day 1.
2) Movement above 9664 is a new IPM.
3) Profile is an open test drive with single print rejection of sellers below yesterday’s lows.
4) Target for the breakout is 320 points with a SL below the day’s POC.
Nifty Future October series:
Back Ground :
1) Market in a second bracket of 5060-5181
2) Larger bracket is 4725-5233
Thursday’s charts :
1) A normal variation day with bias going to the seller for day time control.
2) Auction still at the upper end of the previous 4900-5060 bracket.
3) A balanced profile to describe the day
4) the balanced profile breakout can project a 180 point move
5) exit of range n value is the better trading approach.
Friday’s Charts :
1) A Normal variation close at the upper end
2) An auction above 5157 can take it to 5233
3) The value created sideways now confirms the move from Wednesday’s close.
4) Target remains 180 points from the bracket low of 5060.
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