Evening report trade dated 04th July

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We got the first sign of an aggressive seller in the NF today for this up move from 8100 levels but he was not good enough to push the auction below 8380 reference. The day type was neutral and even though we are one time framing higher for the past 6 sessions we are beginning to see more and more evidence now of the second time frame getting active now leading to the start of Step 2 post this big IPM. However value still is being moved higher and there is no evidence that the shorts are getting a toe hold yet.

 

NIFTY July F: 

Nf_compo1

 

 

 

Weekly levels: We have done a review on weekly charts at:  http://vtrender.com/nifty-bn-weekly-view-spot-for-04th-july-8th-july/

 

Background / Previous Auctions :

#) The NF was a Neutral day

#) vwap of the session was at 8393  with volumes of 80 L in a session which traded a 8415-8376  range of 39 points

#) Day POC was at 8386 levels

#) Volume was under the  average of the past 5 sessions .The declining volumes at the highs of the range point to some long liquidation coming but big selling of the type we saw in June is still missing. 

#) We note an FA at 8186 on 29/06. It is on day T+3 now.

#) The auction was dominated by locals today and OTF was missing

#) The reference area up above is at 8415 and down below at 8360 for the session tomorrow. 

#) Value areas are at  8398-8386-8384– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/

#) Discl – When we mention Buyers/ Sellers we point to and infer aggressive players.

 

 

BankNifty July F:

 

 

BNF_compo

 

Weekly levels: We have done a review on weekly charts at:  http://vtrender.com/nifty-bn-weekly-view-spot-for-04th-july-8th-july/

Background/ Previous Auctions :

 

#) The BNF was a Neutral day which closed at vwap/ poc

#) vwap of the session was at 18145 with volumes of 20 L in a session which traded a 18193-18086 range of  107 points

#) day POC was at 18140 levels 

#) The POC’s are beginning to go sideways, an early sign that the IPM is completing and we are ready for step 2.

#) On the upside the reference zone is at  18230 zone and down below at 18070 again. 

#) Value areas are at 18163-18140-18119 for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

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