Nifty future opened above prev day VAH and met with responsive sellers (Open drive down) around 8095 HVN of 10 th july. Post initial balance formation those morning sellers cant able to push price down. Held the gap till afternoon and price scaled up to 8125 Zone VAH of 10th july found sellers again & price closed at 8075 POC for the day. Normal variation day with range extension upside & value area developing higher.8125 been probe zone for this leg started at 7930 had been achieved. Market might look for new clues here.
We see some good response by sellers at 8125 zone. This supply need to fade away for meaning full upmove from here. Struggling to cross that can make price probe to 7975 VPOC going fwd. Key ref levels to watch out for 8095 & 8010. 7975 being a composite HVN likely to get support.
Happy trading !!
Jay
We see some good response by sellers at 8125 zone. This supply need to fade away for meaning full upmove from here. Struggling to cross that can make price probe to 7975 VPOC going fwd. Key ref levels to watch out for 8095 & 8010. 7975 being a composite HVN likely to get support.
Happy trading !!
Jay
Thank You Jay for your analysis.
ReplyDeleteThanks Jay!
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