Evening Report dated 02nd Nov 17

Posted on Posted in Blog

The NF on Thursday was a balanced auction within the range of the trend up of Wednesday. As the market accepted the new prices above 10450 as value a double distribution was seen in the weekly profile with 10430 as the lower edge of the upper distribution. The auction for tomorrow should be capped with 10428 to 10482 per the DD structure visible. 

To understand the short-term nature of the auction see our weekly Market profile report- http://vtrender.com/weekly-hypos-week-dated-30th-oct-03rd-nov-spot-prices/

Nifty Nov F:

 

nf_compo1

 

 

  • The NF Open was an OAIR
  • The day type was a Normal Variation Day
  • Vwap of the session was at 10456 with Volumes of 50.4 L in a session which traded a High-Low range of 10473-10433 for 40 points.
  • On Settlement day the biggest inventory shift was noticed at 10328 Nov F and is our immediate reference level for a bias.
  • The weekly profile is a double distribution with the upper value between 10430- 10480.
  • We maintain a short-term bullish view above 10328 F.
  • The vwap of the Oct series is at 10052 spot. The POC is at 10016
  • Value areas are at 10465-10455-10451 – for the next session.
  • Support is placed at 10430 in tomorrow’s session with resistance at 10482

 

Hypos for the next  session: ( Prices are Nov F) 

 

  • **Bullish Hypo: Above 10482 longs for 10501
  • **Bearish Hypo: Below 10428 shorts for 10406
  • ** Neutral Range: 10470- 10440

Note – hypos are tradeable with a 1-1 ratio and are valid for the full session from Open to close. For example, a 50 point target would mean a stop of 50.

For tradeable ideas on these hypos and to check the OrderFlow live visit the trading room.

If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout

 

BNF Nov F:

 

bnf_compo1

 

  • The BNF Open was an OAIR
  • The Day type was a Neutral day
  • Vwap of the day was at 25501 with Volumes of 25.4 L and a High – Low of 25610-25413 for a range of 197 points.
  • An initiative Buyer is present from 25/10 at 24943F
  • We saw responsive buying again at 24940 on 27/10.
  • The vwap at 25448 is now the near-term support for the index
  • The vwap of Oct  series  is at 24348 spot with POC of 24122
  • The Value areas are at 25527-25470-25455 for the session next.
  • The Auction now has further support at 25400 for the next  session
  • The resistance may come around 25540

Hypos for the next  session: ( Prices are Nov F) 

 

  • **Bullish Hypo: above 25538 for 25600
  • **Bearish Hypo: Below 25390 for 25330
  • ** Neutral Range: 25480- 25530

Note – hypos are tradeable with a 1-1 ratio and are valid for the full session from Open to close. For example, a 50 point target would mean a stop of 50.

For tradeable ideas on these hypos and to check the OrderFlow Live visit the trading room.