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 : Another neutral day with a Failed Auction at 5355.
Nifty Future Nov Series :
Back Ground :
1) The Gap between 5244 and 5340 approx now stands closed.
2) Market auctioning above the previous bracket high of 5181.
Thursday’s charts :
1) A neutral extreme day with a range extension on 2 sides
2) a neutral extreme day shows the presence of longer time frame buyers and sellers
3) There was responsive activity on both sides today
4) An auction below the previous lows of 5240 was not successful in finding new sellers
5) The low of 5221 does not show high volumes or excess
6) At 5311 some very high volumes were traded
7) 5261 again showed big volumes
8) 5349 is the POC of the balanced profile, above which the bias will be largely positive.
Friday’s Charts :
1) A FA at 5356 which is also the HVN of the previous Balanced profile
2) Movement above 5356 is a new auction and a new IPM and can give approximately 100 points immediately
3) Excess at lows of 5280 on Friday, shows presence of buyers
4) Highest volumes at POC 5334, followed by good volumes at 5303, 5285 and 5317 at the close.
BankNifty Future Nov Series :
Thursday’s charts :
1) Chart show value being created lower
2) The upmove of the afternoon was a result of shorts covering
3) the spike at the close, if accepted at the open tom may result in a positive day
4) Large volumes seen at 9720 and 9790.
Friday’s Charts :
1) A small thick balanced profile in a neutral day
2) POC is sideways from 24/10
3) Large volumes at 9885.
4) Buying volumes noticed at 9848.
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