Evening Report dated 03rd Jan ’18

Posted on Posted in Blog

The auction of Wednesday went back up and tested the scene of crime left behind by the spike of Monday. It met responsive selling on the upward probe and the sellers pushed the index lower to the POC of Tuesday’s profile at the close. We are seeing the current leg of the auction trapped between two volume zones at 10468 and 10546 and as mentioned yesterday a break below 10468 F is the trigger now for shorts to control the time frame beyond the intraday sphere. 

To understand the short-term nature of the auction see our weekly Market profile report –http://vtrender.com/weekly-hypos-week-dated-01st-jan-05th-jan-spot-prices/

Nifty Jan F:

 

nf_compo1

 

 

  • The NF Open was an OAIR
  • The day type was a Normal Variation Day
  • Vwap of the session was at 10491 with volumes of 91.6 L in a session which traded a High-Low range of 10543-10456 for 87 points.
  • The settlement day inventory is at 10533 F and hence the 10533 F zone is the reference area into Jan series.
  • The vwap of the Dec series is at 10296 spot. The POC is at 10477. This was a marginal series from Nov whose vwap was 10330 and POC of 10444
  • The auction shows a large volume zone at 10540 and another volume zone at 10468. Bias is now neutral between these 2 zones (  short-term swing)
  • But we also have a clear rejection of the auction dated 27/12 between 10570 and 10600. So this is the second round of supply.
  • Support lower exists at 10350 F
  • Value areas are at 10512-10496-10457– for the next session.
  • Support is placed at 10440  in tomorrow’s session with resistance at 10499
  • Projected range for a 100,000 contract day (+/- 15000) tomorrow is 10555-10437 extendable to 10579-10413

 

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

 

  • **Bullish Hypo: Above 10500 longs for 10530
  • **Bearish Hypo: Below 10440 shorts for 10410
  • ** Neutral Range: 10500-10440

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 Jan F:

 

bnf_compo1

 

  • The BNF Open was an OAIR
  • The Day type was a Normal Variation day
  • Vwap of the day was at 25440 with Volumes of 21.5 L and a High – Low of 25499-25370 for a range of 129 points.
  • The vwap of Dec  series  is at 25336 spot with POC of 25584
  • We have a large composite balance between 25600 to 25850 which forms the bulk of a P shaped profile with POC of 25720
  • This 25720 F is now a supply zone
  • Lower down the auction has support near the 25160 zone.
  • The Value areas are at 25487-25460-25410 for the session next.
  • The support is at 25340 for the next session with resistance at 25430
  • Projected range for a 60,000 contract day (+/- 7000) tomorrow is 25550-25370 extendable to 25580-25340

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

 

  • **Bullish Hypo: above 25428 for 25474
  • **Bearish Hypo: Below 25340 for 25298
  • ** Neutral Range: 25430-25340

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.