Evening Report dated 08th Jan ’18

Posted on Posted in Blog

The auction of Monday gapped up above the supply zone we have identified in previous posts between 10570 and 10600 F. It was an Open auction out of range which stayed that way through the close in a market which traded only 35 points all day and kept to a 20 point range. Sellers were not seen fighting for control today and Value Area was up on the day. We trade value not price, so the path of least resistance continues to be up. The only exception to that would be an Open drive down right at the open negating this profile and leaving behind an Island at the open tom. If that does not happen then any dip later to 10580 F should bring out responsive buyers again. 

To understand the short-term nature of the auction see our weekly Market profile report – http://vtrender.com/weekly-hypos-week-dated-08th-jan-12th-jan-spot-prices/

Nifty Jan F:

nf_compo1

 

 

 

  • The NF Open was an OAOR
  • The day type was a Normal Variation Day
  • Vwap of the session was at 10625 with volumes of 57.6 L in a session which traded a High-Low range of 110639-10604 for 35 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 positive above 10530 roughly
  • Value areas are at 10630-10626-10620– for the next session.
  • Support is placed at 10615  in tomorrow’s session with resistance at 10640
  • Projected range for a 100,000 contract day (+/- 15000) tomorrow is 10650-10600 extendable to 10670-10580

 

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

 

  • **Bullish Hypo: Above 10640 longs for 10663
  • **Bearish Hypo: Below 10600 shorts for 1080
  • ** Neutral Range: 10620-10640

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 OAOR
  • The Day type was a Normal Day
  • Vwap of the day was at 25741 with Volumes of 16.8 L and a High – Low of 25779-25685 for a range of 94 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
  • The Value areas are at 25755-25735-25720 for the session next.
  • The support is at 25680 for the next session with resistance at 25755
  • Projected range for a 60,000 contract day (+/- 7000) tomorrow is 25799-25670 extendable to25825-25646

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

 

  • **Bullish Hypo: above 25750 for 25799
  • **Bearish Hypo: Below 25680 for 25625
  • ** Neutral Range: 25690-25740

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.