From Friday – “We got evidence in Friday’s Market that the IPM had slowed down and we could be going in a sideways market for the duration of the coming week. The range remains 7230- 7630 for this second stage” Moore confirmation came by today and we set ourselves up for a sideways move.
NIFTY MAR F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-07-march-11march/
#) The NF was a Normal Variation day
#) Vwap of the session was at 7461 with volumes of 113.6 L in a session which traded a 7498-7414 range of 84 points
#) Day POC was at 7474 levels
#) The singles from 6825 spot are confirming a change in short term trend. Support lies at 7230 spot. Crucial level at 7520
#) Value areas are at 7491-7474-7445– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7420 Mar F ( K.R.A= key reference area)
and the trend is upwards
BankNifty F:
Background/ Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-07-march-11march/
(based on Fut prices)
#) The BNF was an inside day which closed near day center
#) vwap of the session was at 15176 with volumes of 31.3 L in a session which traded a 15350-15051 range of 298 points
#) day POC was at 15240 levels
#) Auction seems to be in Step2 of the Steidlmayer 4 step process.
#) Value areas are at 15259-15240-15114 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/–
K.R.A is 15200 Mar F ( K.R.A= key reference area)
and the trend is sideways now