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 Tuesday : A double distribution trend day with news flow mid-session reversing the gains made earlier and the auction.Such days are generally followed up with a distribution in the lower distribution zone ( if incomplete as a D) or a move into the middle part of the D to set up a balanced profile.
Also the market moved into a new IPM as the FA from Monday was reversed at 4914.
Bank Nifty October series :
Background : 4 day value area from 27/9 to 30/9 broken down. Market moving below the previous HVN of 9380
Today’s charts :
1) A double distribution day with a profile looking like 2 D’s below each other
2) The session was dominated by buyers in the value area of yesterday in the earlier part, but were unable to move it above the previous day’s high
3) As the previous distribution was a normal bell shaped curve, a break of value and range sets up a very good trade
4) The lower bell requires auction and is incomplete at the moment
5) Single print at 8939 is an anomaly and should get taken out.
Nifty Future October series:
Background : 4 day value area from 27/9 to 30/9 broken down. Market moving below the previous HVN of4896
Today’s charts :
1) On Monday we spoke about a break of the consolidation between 5010 and 5130 projecting 300-370 points as a target
2) Today’s move was divided into 2 different auction with news flow generally producing a day like today or a DD day
3) In the earlier auction the market moved away from value high of the previous day, but was unable to break over the previous day’s range
4) From failed moves, generally come fast moves in opp direction
5) The FA point of 4814 was violated and a new auction is underway
6) the FA point can be used as a SAR for swing trades on an hourly closing or daily closing basis
7) Auction looks incomplete in the lower half
8) There is evidence of a small buying tail at the base of today’s profile.