Levels and Plan for 30th Nov
In Friday’s session we closed above the series vwap of November but not strongly above the 7930- 50 zone we have been watching from July.We are carrying a bullish bias into Monday and looking for a move above 7999F to confirm the same.
Nifty/ BN Weekly View (spot) for 30 Nov- 04 Dec’15
Last week the settlement for the November series was just under the November vwap of 7926. The weekly close of Friday was at the 7930- 50 supply zone mentioned and did not give a decisive direction cue. However, we lean on the 7875- 7895 spot VAH to give us a support on any dip for a […]
Levels and Plan for 27th Nov
We got a P shaped profile in today’s market. The P shape came after a balance in last week’s value area. The Market Profile Guru Pete Steidlmayer considers a balance, then a P ( or a b) to be the starting point of a new move. Today was settlement day and it is always a […]
Levels and Plan for 26th Nov
After being pushed back into the balance zone again on Monday, the NF continued to trade the balance zone on Tuesday setting up a possibility of a trending move late in the expiry session of Thursday.Expiry week is not the correct time to talk about the bias of the market, but even then the reaction to […]
Levels and Plan for 24th Nov
The NF pushed back into the balance zone of 7820- 7860 today, effectively cancelling the spike of Friday. The seller of 7885 is seen marginally prevailing over the old buy business from 7777.
Levels and Plan for 23rd Nov
Friday was again a 2-time frame market with a Buyer at the lows and previous session’s vwap and a seller at the KRA and the extension high of 7924. Overall the Nifty had a better weekly close after a gap down on Monday earlier and we wait to see early in the week if it […]
Levels and Plan for 20th Nov
The market gapped up today and on the expected retest of 7777 mentioned in yesterday’s report, the sellers failed to hold their edge ( low of 7771) and the auction rose in the opposite direction on old business covering positions. Into the close there was an absence of new buying and structure remains sideways for […]
Levels and Plan for 19th Nov
Yesterday was a Neutral Center ( NC) and we made a mention of the 7820 Buyers and the 7876 F sellers in yesterday’s report. Once again we trended out of the NC as the 7820 buyers gave up after early morning resistance and the NF trended lower rest of the session to meet the Buying […]
Levels and Plan for 18th Nov
The day after the trend day was 2-time frame in auction behavior and closed as a neutral center just above vwap and day midpoint. A neutral center after a trend day (which is domination by a single time frame), shows the market accepting the higher prices as value. Yesterday’s reference levels remain the same on […]
Levels and Plan for 16th Nov
We got a neutral center in the NF in Friday’s session. We also note an FA at 7742 which saw a huge buying order enough to push the index up 54 points during the session. However, the close was at vwap and just like last Friday resembled a pause.