Evening MarketProfile report dated 04th Sept

The NF opened in the spike of yesterday’s auction, the BNF much lower. The lower open forced long liquidation in the BNF which dropped a further 488 points on the day. The Nifty was a neutral extreme at the close with the POC of August series at 11488 close to the lows and a support for a bounce tomorrow.  The BanKnifty was a trend lower post-IB and the Initiative selling seen at 27740, 27850 and 27920 promises more lower levels ahead. The BN already finds itself near Aug lows and with bounces threatening to see more long liquidation and fresh supply…

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Evening MarketProfile report dated 03rd Sept

An open auction within the range of Friday’s profile saw a sudden spike down at the close and a test of demand at the VPOC from 24/08. It started with the initiative selling at 11735 and picked as the Nifty broke 11690, a level most participants had expected to hold. There is a trapped buyer near 11690 but towards the clsoe, we saw a lot of demand entering the market. Spike rules apply at the Open and the lack of sell-side pressure should create a bounce as long as the index trades above 11610 roughly. However, on the higher side, there are now 3…

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Weekly outlook for the week dated 03rd Sept to 07th Sept (spot prices)

The series of August which concluded on Friday was traded with a vwap of 11444 and highest volume during the series came at 11480. The Nifty trended up through the August series with buyers in total control of the auction and hence the vwap at 11444 will serve as an important pivot in the coming few months.   The BN traded August with a vwap of 27923 and highest volume was traded at 28280. Viewed against the uptrending profile of the Nifty, the Bank index was rangebound and the last 4 weeks were spent in the same range forming a…

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Evening MarketProfile report dated 31st Aug

On the first day of the new series of September, the auction swept up higher at the open to test the highs of the week, where responsive selling emerged to push the index lower and back to the open price. Near the lows of 11690, a second round of responsive buying was seen similar to the one we witnessed on settlement Thursday. The auction in the Nifty closed as a Normal distribution having tested the highs and lows of the previous 3 sessions. A weekly outlook was updated on Saturday at – https://vtrender.com/weekly-outlook-for-the-week-dated-03rd-sept-to-07th-sept-spot-prices/   Nifty Sept F:     The NF Open…

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Evening MarketProfile report dated 28th Aug

We got a Normal day in the markets today as balance returned to the auction especially in the Nifty after 2 sessions. The open rejection of the morning was met with sharp responsive buying/ short covering and once again the indices closed near their highest point. Into settlement week the theme remains short covering and all dips are likely to be met with short selling covering positions especially the calls. After the 11600 and 11650 call writers covered yesterday, it was the turn of the 11700 writers who have covered most of their short positions as of today’s close. The focus is…

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