Evening report trade dated 05th July

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Two things happened in Tuesday’s auction – 1 is we got a continuation below the 8380F marker ( refer Monday evening notes)  and 2) we got value drifting lower confirming end of the IPM and start of step2 . As we know not every daily profile is related to the one from the previous session and sometimes it helps to step back and look at the bigger auction at play rather than just what the auction did or not do on a particular day. In the context of Tuesday’s trade, that big picture showed us that the composite high of June held through the session. Since it is a big picture and the auction got interrupted by session closing, we wait to see what happens in the next 2 sessions. 

 

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 Normal variation day

#) vwap of the session was at 8357  with volumes of 83.8 L in a session which traded a 8382-8342 range of 38 points

#) Day POC was at 8355 levels

#) Volume was at 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+4 now.

#) The auction moving lower paused at the composite balance of June near 8340F.

#) The reference area up above is at 8380 and down below at 8327 for the session tomorrow. 

#) Value areas are at  8363-8355-8349– 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:

 

 

 

 

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 :

BNF_compo

 

#) The BNF was a Normal Variation day

#) vwap of the session was at 18105 with volumes of 21.4 L in a session which traded a 18160-18036 range of  124 points

#) day POC was at 18070 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  18154 zone and down below at 17980 for the session tomorrow. 

#) Value areas are at 18122-18070-18067 for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/