Whilst analysts have been busy alternating between buying and selling the market for the past 100 points, we have preferred to track the net difference between buyers and sellers for this week, which was neutral along with price two days back.
Here is an updated chart to the one that was posted two days back :
Yesterday's move down in the Nifty was not majorly supported on huge sell volumes, but effectively the sellers are more in control as the week has shown.
The reading at the close for the past four days is slightly lesser than the preceding four days of delta.
Overall the market is still confined within the green line and the red line as shown.
A break of either level this week will point to the presence of new selling/ buying activity this week.
We will continue to track the movement of delta real time in our trading room.
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From v2 lat night at 11.00 pm :
- Mkts broke below 5486 convincingly in second half of the day
-5462 is the level to watch tomorrow below which we can see 5433/ 5402
-resistance above is 5510-19
vwap for the series is 5490 and dpoc at 5500
Dear Shai & friends
Happy Holi!
Happy Holi RM.
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