Evening Report dated 04th Dec 17

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We spoke in our last post on the evidence given by the Nifty on lack of selling below Friday lows and the same was seen in today’s auction as the Nifty returned to the expected balance. Visible in the OrderFlow of the day was also a sharp responsive buying in the BankNifty which should it carry tomorrow should set the ground up for a bounce in the next session. 

To understand the short-term nature of the auction see our weekly Market profile report – http://vtrender.com/weekly-hypos-week-dated-27th-nov-01st-dec-spot-prices/

Nifty Dec F:

 

nf_compo1

 

 

  • The NF Open was an Open auction.
  • The day type was a Normal Variation Day.
  • Vwap of the session was at 10166 with Volumes of 84.9 L in a session which traded a High-Low range of 10198-10126 for 71 points.
  • Today’s auction was a balance which brought an end to the imbalance of the past 2 sessions.
  • The vwap of the settlement day is at 10316 with a PBH of 10347 F ( also a trend day vwap dated 29/11)
  • The auction continues to trade below the FA point of 10393F  which is resistance for the sessions ahead.
  • We also saw another FA at 10465 F which is on day T+4
  • On Settlement day the biggest inventory shift was noticed at 10278 DEC F and is our reference level for a bias in the series.
  • The vwap of the Nov series is at 10330 spot. The POC is at 10440
  • Value areas are at 10177-10155-10143  – for the next session.
  • Support is placed at 10140 in tomorrow’s session with resistance at 10190
  • Projected range for a 100,000 contract day (+/- 15000) tomorrow is 10106-10204 extendable to 10087-10223

 

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

 

  • **Bullish Hypo: Above 10190 longs for 10215
  • **Bearish Hypo: Below 10141 shorts for 10117
  • ** Neutral Range: 10190- 10160

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 Dec F:

 

bnf_compo1

 

  • The BNF Open was an Open auction
  • The Day type was a Normal Variation Day
  • Vwap of the day was at 25225 with Volumes of 21.9 L and a High – Low of 25374-25086 for a range of 288 points.
  • We saw sharp responsive buying at 25145 F in today’s auction
  • The Settlement Day dated 30/11 was a Trend day with vwap of 25588 and Pullback high of 25660
  • The BNF is again poised at the edge of the lower composite in the chart above
  • The vwap of Nov  series  is at 25440 spot with POC of 25740
  • The Value areas are at 25287-25240-25165  for the session next.
  • The support is at 25145 for the next session with resistance at 25341
  • Projected range for a 60,000 contract day (+/- 7000) tomorrow is 25044-25435 extendable to 24966-25514

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

 

  • **Bullish Hypo: above 25341 for 25441
  • **Bearish Hypo: Below 25145 for 25050
  • ** Neutral Range: 25260- 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.