Nifty fut opened above prev day value area high again and took support at 8095 ref level scaled up (Open test drive) pushing price above 8125 prev day high. A short covering (P shaped) profile developed for the day. Value area completely developed higher. we are near important level of 8200 where lastly we saw sellers initiating trades . Being a weekend longs need to place their sl below 8140.
We have VPOC's at 7975 & 8075. Till 8140 holds bullish scenario continues. 8195 & 8210 two imp key ref levels to look for at higher levels. Struggling to cross this zone can bring in some profit booking @ higher levels till 8075.
Happy trading !!
Jay
We have VPOC's at 7975 & 8075. Till 8140 holds bullish scenario continues. 8195 & 8210 two imp key ref levels to look for at higher levels. Struggling to cross this zone can bring in some profit booking @ higher levels till 8075.
Jay
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