Evening report trade dated 04th Jan
On a Volume of 163 L we saw a swift rejection of the low volume profiles of the last 15 days and the close came just under the vwap of the December series.Whilst the selling did get emotional below 7850, fact remains that it was a high volume trend day sell off and we will […]
Levels and Plan for 4th Jan
We got a double distribution on Friday on very poor volume of 58L. 7958 is roughly the extension point and we look to Monday open to see if we stay above or below this point at the open to qualify the move seen late Friday
Levels and Plan for 16th Dec
We got further confirmation today of the balance forming and the market reluctant to auction below 7625F. However, selling was still seen at session highs and the seller seen to be persisting for now.
Levels and Plan for 15th Dec
Even though we dipped lower on Friday below 7625 and hit 7580 there was evidence in the market today that the move was emotional selling and the balance we have been speaking about since Thursday is upon us and now visible in the charts we track. The BNF which until Friday was looking as the stronger of […]
Levels and Plan for 14th Dec
Early in the morning session on Friday, the VAH of the 2-day old balance was broken comprehensively on good volumes and thereafter the NF trended lower to hit 7586 and we finished in imbalance again.
Levels and Plan for 11th Dec
We got a failed auction at the lows today and a neutral extreme day. And the broader market went sideways for the first time in 7 sessions. This could be the end of the IPM from 8005 and start of Step 2.
Levels and Plan for 10th Dec
The IPM continues lower from 8005 and in today’s trade we hit 7627 with no sign of a balance forming yet. Remember IPM gets over only when we see a sideways going value and the charts below will not show you one yet. We have used AMT to test the counter trend moves all through […]
Levels and Plan for 9th Dec
The IPM which started from 8004 has done 295 points so far and value is still pushing lower. We broke below 7764 F today in a spike putting 7624- 7650 F into play for the rest of this week. Yesterday’s VAL was rejected today and auction shows value lower. However spike rules apply at the […]
Levels and Plan for 8th Dec
A gap up was not utilised by the bulls to add long exposure and the market drifted back into the previous session lows and even probed lower. We saw a mix of long liquidation and short covering in the OrderFlow today but since bulls are not making an attempt to drive prices higher, the path […]
Levels and Plan for 7th Dec
A neutral extreme on Thursday was followed by a neutral center on Friday. The IPM from 8005 NF is steadily pushing value lower and by Friday close had shaved off 195 points in 3 sessions. we did get a balance on Friday which could signal a pause or a consolidation next. Remember we are coming […]