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 Monday : A Open drive down back through the value area of friday and a close near the day’s developing point of control.
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.
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.
Monday’s charts :
1) FA Point was re-visited during the session today
2) Value was created higher and POC migrated higher
3) Breakdown below FA point of 9665 can quickly test 9590
Nifty Future October series:
Back Ground :
1) Market in a second bracket of 5060-5181
2) Larger bracket is 4725-5233
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.
Monday’s charts :
1) Friday’s attempt to auction higher at the close was rejected swiftly this morning, sending the markets back through the entire area.
2) 3 day profile is now completely balanced and the market looks to put in a move anytime now.
3) The balancing act confirms step 2 of the 4 part Steidlemayer auction process.
4) A move away from this zone with a POC at 5109, can set up a trend like day.
Broader Market of Monday : A Open drive down back through the value area of friday and a close near the day’s developing point of control.
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.
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.
Monday’s charts :
1) FA Point was re-visited during the session today
2) Value was created higher and POC migrated higher
3) Breakdown below FA point of 9665 can quickly test 9590
Nifty Future October series:
Back Ground :
1) Market in a second bracket of 5060-5181
2) Larger bracket is 4725-5233
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.
Monday’s charts :
1) Friday’s attempt to auction higher at the close was rejected swiftly this morning, sending the markets back through the entire area.
2) 3 day profile is now completely balanced and the market looks to put in a move anytime now.
3) The balancing act confirms step 2 of the 4 part Steidlemayer auction process.
4) A move away from this zone with a POC at 5109, can set up a trend like day.
[learn_press_profile]