Evening Report dated 13th Jan ’18

Posted on Posted in Blog

The markets on Friday saw a sharp mid-afternoon drop n NewsFlow but once again the responsive buying we saw at 10615 managed to push the index back to its highs and the index closed near the highest point. We continue to see the extension of this leg up in Nifty capped around 10720/ 10730 F and a pullback due to 10540 which should show buying again.  What’s not comforting is that the broader market has built shorts or hedged cash longs as evident in the Nifty futures premium which current is at 3 in the middle of the series. Thus we should stay open to a short covering run above 10730F also which should be a leg up of 200 points to 10900F.

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 and the 3IB highs of the previous session was not visited
  • 3IBL extension lower on Friday was at 10602 and would make a case for that low to be defended for next session or 2.
  • Vwap of the session was at 10664 with volumes of 109.5 L in a session which traded a High-Low range of 10695-10602 for 92 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 10689-10680-10660– for the next session.
  • Support is placed at 10655  in tomorrow’s session with resistance at 10717
  • Projected range for a 100,000 contract day (+/- 15000) tomorrow is 10745-10620 extendable to 10770-10594

 

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

 

  • **Bullish Hypo: Above 10717 longs for 10749
  • **Bearish Hypo: Below 10655 shorts for 10623
  • ** Neutral Range: 10660-10690

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 Variation Day
  • Vwap of the day was at 25682 with Volumes of 29.5 L and a High – Low of 25764-25568 for a range of 196 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 25762-25740-25660 for the session next.
  • The support is at 25678 for the next session with resistance at 25808
  • Projected range for a 60,000 contract day (+/- 7000) tomorrow is 25876-25607 extendable to 25926-25554

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

 

  • **Bullish Hypo: above 25810 for 25876
  • **Bearish Hypo: Below 25665 for 25610
  • ** Neutral Range: 25805-25675

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.