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 Wednesday : A neutral day with a failed auction at the lows and a close at the upper extreme. Such days if not followed up by a higher IB above the day’s close, will result in a pull back.
Bank Nifty October series :
Background :
1) 4 day value area from 27/9 to 30/9 broken down.
2) Market moving below the previous HVN of 9380
3) A big seller at 9380
Tuesday’s Charts :
1) A normal variation day with lower side extension
2) HVN of 9373 was tagged and the previous seller showed up again
3) A DD shaped profile which closed near the previous POC
Wednesday’s charts :
1) Market spiked into the close. We have to follow spike rules at the open tomorrow.
2) Open above spike high is bullish. A reentry in the spike region will take it back to spike lows at 9394
3) Value was created sideways- dpoc stayed down which means that the later buyers were not buying value and may not be strong to withstand pressure
4) 9562/ 9730/ 9917 are now overhead resistances.
5) Profile was B shaped- which meant short covering took place.
Nifty Future October series:
Background :
1) 4 day value area from 27/9 to 30/9 broken down.
2) Market moving below the previous HVN of 4896
3) FA from 4814 revisited and new auction tracked below it.
Tuesday’s charts :
1) A NV day
2) Selling by day time frame but no excess at the top
3) range movement looks to continue.
Wednesday’s charts :
1) A neutral day in NF with a FA below and close at extreme
2) Upper profile is non- symmetrical and having anomalies, which means that it will be revisited
3) Acceptance above day high is however bullish
4) Resistance above is 5151 and then 5235
5) Staying above 5062, the previous bracket high will mean that a new range will develop.
6) FA at 5001 will be revisited between 1-5 days
7) An auction below 5000 will change the trend to lower.
Broader Market of Wednesday : A neutral day with a failed auction at the lows and a close at the upper extreme. Such days if not followed up by a higher IB above the day’s close, will result in a pull back.
Bank Nifty October series :
Background :
1) 4 day value area from 27/9 to 30/9 broken down.
2) Market moving below the previous HVN of 9380
3) A big seller at 9380
Tuesday’s Charts :
1) A normal variation day with lower side extension
2) HVN of 9373 was tagged and the previous seller showed up again
3) A DD shaped profile which closed near the previous POC
Wednesday’s charts :
1) Market spiked into the close. We have to follow spike rules at the open tomorrow.
2) Open above spike high is bullish. A reentry in the spike region will take it back to spike lows at 9394
3) Value was created sideways- dpoc stayed down which means that the later buyers were not buying value and may not be strong to withstand pressure
4) 9562/ 9730/ 9917 are now overhead resistances.
5) Profile was B shaped- which meant short covering took place.
Nifty Future October series:
Background :
1) 4 day value area from 27/9 to 30/9 broken down.
2) Market moving below the previous HVN of 4896
3) FA from 4814 revisited and new auction tracked below it.
Tuesday’s charts :
1) A NV day
2) Selling by day time frame but no excess at the top
3) range movement looks to continue.
Wednesday’s charts :
1) A neutral day in NF with a FA below and close at extreme
2) Upper profile is non- symmetrical and having anomalies, which means that it will be revisited
3) Acceptance above day high is however bullish
4) Resistance above is 5151 and then 5235
5) Staying above 5062, the previous bracket high will mean that a new range will develop.
6) FA at 5001 will be revisited between 1-5 days
7) An auction below 5000 will change the trend to lower.
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