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 : This post is done at 6.00 pm Wednesday, and by the time we collect for the market open tomorrow, the fed news should be out.
Just like we saw on Monday, the market action was random with most participants on a wait mode. This should set up an exciting IB hour tomorrow off the opening prints.
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from Wednesday :
1) The longer time frame was visible through single prints at the bottom of the chart
2) Single prints in the middle of the profile are considered ” unhealthy” and are to be taken out.
3) 9793/ 9730 are the single prints
4) Prominent POC of 9674 may be visited again.
Today’s charts :
1) The BN auctioned above VAH all day
2) Large volumes at 9898 may decide the next auction
3) There is also huge volumes below at 9674
4) A break away move should begin above 10024
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chart speak from Monday :
1) Single prints upto 5080 are big support for the market from the longer time frame
2) Structure above 5130 needs a bit of repair and further auction.
Today’s charts :
1) A failed auction at 5173
2) The market stayed above the previous HVN of 5110
3) A fresh auction can bring above 5175.
4) Lower support will be at 5094.
Broader Market of Wednesday : This post is done at 6.00 pm Wednesday, and by the time we collect for the market open tomorrow, the fed news should be out.
Just like we saw on Monday, the market action was random with most participants on a wait mode. This should set up an exciting IB hour tomorrow off the opening prints.
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from Wednesday :
1) The longer time frame was visible through single prints at the bottom of the chart
2) Single prints in the middle of the profile are considered ” unhealthy” and are to be taken out.
3) 9793/ 9730 are the single prints
4) Prominent POC of 9674 may be visited again.
Today’s charts :
1) The BN auctioned above VAH all day
2) Large volumes at 9898 may decide the next auction
3) There is also huge volumes below at 9674
4) A break away move should begin above 10024
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chart speak from Monday :
1) Single prints upto 5080 are big support for the market from the longer time frame
2) Structure above 5130 needs a bit of repair and further auction.
Today’s charts :
1) A failed auction at 5173
2) The market stayed above the previous HVN of 5110
3) A fresh auction can bring above 5175.
4) Lower support will be at 5094.
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