Evening report trade dated 06th Jan

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A swift rejection of VAH early in the afternoon set up the trending move we were expecting and mentioned in yesterday’s post. The Profiles finished as neutral extremes.

Nf_compo1 1

 

Background / Previous Auctions :

Weekly levels: We have done a review on weekly charts at:  http://vtrender.com/nifty-bn-weekly-view-spot-for-04-jan-08-jan16/

(based on Fut prices)

#) The NF was a neutral extreme day

#) Vwap of the session was at 7781 with volumes of 121.5 L in a session which traded a 7824-7730 range of 94 points

#) Day POC moved to 7747 in the closing 10 mins of the session

#) We are noting heavier volumes in the selloff than the corresponding rise in Dec from the same points

#) The NF shows rejection of Friday’s upper distribution and a reconfirmation of the selling seen near 7980 spot last month

#) The composite POC at 8022 from dec still holds the bias 

#) If the auction continues lower below 7754 it can drop to 7637 within the next 2 sessions.

#) Value areas are at  7794-7746-7737– 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.

 

 

K.R.A is 8032 F ( K.R.A= key reference area) 

and the trend is down on the shorter time frame

 

 

BankNifty Dec F:

 

 

BNF_compo

Background/ Previous Auctions :

Weekly levels: For Banknifty we have updated a spot auction view with a chart at:  http://vtrender.com/nifty-bn-weekly-view-spot-for-04-jan-08-jan16/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF was also a neutral extreme day

#) Vwap was at 16530 with volumes of 30.5 L in a session which traded a 16659-16376 range of 283 points

#) day POC was at 16454 levels 

#) Index is weak and has support only near 16290.

#) Value areas are at 16576-16456-16416 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

 

K.R.A is 17210 F  ( K.R.A= key reference area)

 

 Trend is down in the shorter time frame

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