The purple dotted is value area low from yesterday and the large red PNF candle at 9.30 confirmed seller intentions.The initiative selling continued throughout the day and every rise was used to send the index even lower.Buying attempts at 11370 and 11300 were quickly decimated and the day belonged to the sellers by a margin !
For tomorrow as the market waits for the RBI news, it will be interesting to see responsive activity coming from buyers if there is an early morning sell off again.
The Nifty chart showed the presence of a buyer at 5925 levels.But once he was taken off it was difficult for the buyers to capture that level again.Prices however did make it to 5955 which was the previous days Point of Control as also the high of the day.
5868-5863 hold the key in the Nifty tomorrow.
Posts
9 comments:
Values :
5935-5920-5900 in Nifty
&
11410-11312-11228 in Bank Nifty
Viren/Shai,
My poor man's MP software Amibroker gives the following value area:
1151-11400-11282
I even checked in the RT charts posted on VT2 and saw VPOC @11400
Can you check the value areas in RT?
Or may be enable the Volume Profile value area (black lines that Shai had enabled couple of days back on VT Live) while posting the EOD charts on VT2?
Hello,
Today was a difficult day to trade. It is the day like today for which I am interested to have a look both of NIFTY and also BankNIfty Order Flow Charts.
Can you please post both of them, in their entirity, with both the slow and the fast and fast OB signals.
Any system is as good not by how good its signals are, but how well are th whipsaws contained / limited.
I look forward to your posts or an email to me.
Thank You
Girish
BNifty 12000 CE has traded hugely today and has seen humungous addition in OI. What is the implication for this.
Ashish,
Like you were surprised by 12000CE OI addition, I am surprised by the BN Futures 12% OI addition. That makes it about 14% OI increase in last two days for BN Futures.
My best guess taking both 12000CE (45k OI added) + BN fut OI addition (1.5L added) into account, my best guess is these are probably covered calls. And the call writers as of now seem to think that this expiry could be below 12000.
If BN rises to 12000+ in next few sessions, we should see these 12000CEs getting covered. On the other hand if BN starts going down we should see some of the BN futures OI unwinding.
Girish,
Charts with volume value areas posted on V2
That BN 12000 seem to have been written from early this morning, expecting a volatility decline for tomorrow.
That would be the logical thing to do considering that price went from 85 to 35.
Those guys will manage positions around VWAP of 54 tomorrow.
new post
Thanks Viren!
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