Good trade facilitation on the upside, volume was somewhat ok. Profile structure shows an initiative buying tail. The anomaly at 5534 may be revisited. On the upside there is VPOC at 5590. On 6/3, NIFTY formed an excess at 5608.5 which is an important reference point on the upside.
NIFTY traded back through the single prints separating 6/3 double distribution. This opens the possibility of testing the excess created on that day.
1. Opens within VA and revisits the anomaly at 5534 and bounces from there.
2. Opens within VA and comes down to the tail and get rejected.
3. Opens Above VA and fails to auction above yesterdays high
4. Rejection from VPOC
5. Failure to auction above the excess
These are some of the scenario that may develop today.
NIFTY traded back through the single prints separating 6/3 double distribution. This opens the possibility of testing the excess created on that day.
1. Opens within VA and revisits the anomaly at 5534 and bounces from there.
2. Opens within VA and comes down to the tail and get rejected.
3. Opens Above VA and fails to auction above yesterdays high
4. Rejection from VPOC
5. Failure to auction above the excess
These are some of the scenario that may develop today.
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