July settlement was done on Thursday with aa vwap of 10900 and a POC at 10960. The BankNifty closed the July series with a vwap of 26738 and POC of 26910.
This is market generated information and allows us a glimpse of where the money and positions were created on a monthly scale and more.
The series vwap is expected to be a support into August series and dips to these numbers are Buy points.
As we move deep into the first week of the new series of August it would remain a Buy the Dips environment.
Nifty Weekly Profile ( spot) :
The week was traded in a range of 11283-11011 range with a POC at 11141
Early support can be seen now at 111187 and at 11138 in the Profile charts
Supply expected to come back around 111370- 11400 zone this coming week
Buy on dips would be the strategy for the week than chase strength
These are our weekly projections and broadly the setups we would look at to trade in the coming week subject to a confirmation from our OrderFlow charts. These plans can change depending on the change in the day auction.
To know more about how we use these setups to trade and to stay updated and get actionable trading advice subscribe to the VTR ( Vtrender Trading Room). More info at-https://vtrender.com/trading-room/. Pricing details at – https://vtrender.com/pricing/
BankNifty Weekly Profile ( spot) :
The banknifty traded a 27661-26670 range during the week.
Largest volume was traded at 27580 during the week
Support at 27300 is expected to hold in the coming week
These are our weekly projections and broadly the setups we would look at to trade in the coming week subject to a confirmation from our OrderFlow charts. These plans can change depending on the change in the day auction.
To know more about how we use these setups to trade and to stay updated and get actionable trading advice subscribe to the VTR ( Vtrender Trading Room). More info at-https://vtrender.com/trading-room/. Pricing details at – https://vtrender.com/pricing/