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 : We had a neutral day in the markets, with both buyers and sellers managing range extensions beyond IB. A gap was closed from yesterday and the seller showed up at higher levels.
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from yesterday :
1) A gap down open from the broken 9690 region.
2) Auction is between two HV”s at 9490 and 9198
3) The gap is a single print seller
4) The area above the gap( 9625-9842) is now a minus development zone and may be visited again
5) There is also another minus development region below 9120
Today’s charts :
1) The gap was not covered in BN
2) Profile shows large volumes around 9485 which can decide the next swing trade
3) Expecting BN to be relatively flat around the center of today’s profile.
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chartspeak of yesterday :
1) a Gap down open, which is a single print seller
2) Auction between two HVN’s at 4974 and 4875
3) Auction also in the larger value area of the composte profile and may target 4831 on the lower side
4) A gap fill trade above 4979 can bring 5043.
Today’s charts :
1) The gap was filled upto 5040
2) Today’s charts are the entire composite between 5182 and the recent 4730 lows.
3) The purple areas represent the value area over time
4) Today’s move was on very poor structure, so we can expect a repeat of the range tomorrow.
Broader Market of Tuesday : We had a neutral day in the markets, with both buyers and sellers managing range extensions beyond IB. A gap was closed from yesterday and the seller showed up at higher levels.
Bank Nifty :
Back Ground : – Dominant seller at 10525./
Chart speak from yesterday :
1) A gap down open from the broken 9690 region.
2) Auction is between two HV”s at 9490 and 9198
3) The gap is a single print seller
4) The area above the gap( 9625-9842) is now a minus development zone and may be visited again
5) There is also another minus development region below 9120
Today’s charts :
1) The gap was not covered in BN
2) Profile shows large volumes around 9485 which can decide the next swing trade
3) Expecting BN to be relatively flat around the center of today’s profile.
Nifty :
Background :
– Huge gap between 5325 and 5233 which is a single print seller.
Chartspeak of yesterday :
1) a Gap down open, which is a single print seller
2) Auction between two HVN’s at 4974 and 4875
3) Auction also in the larger value area of the composte profile and may target 4831 on the lower side
4) A gap fill trade above 4979 can bring 5043.
Today’s charts :
1) The gap was filled upto 5040
2) Today’s charts are the entire composite between 5182 and the recent 4730 lows.
3) The purple areas represent the value area over time
4) Today’s move was on very poor structure, so we can expect a repeat of the range tomorrow.
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