Evening report trade dated 09th May

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We got an Open drive and a trend day to start the week and a move back into the 2 way auction of 03rd May. We are calling this leg of the auction as a probe of the selling seen at higher levels but from a slightly larger time frame perspective, it looks like we are headed into a quieter 2-way mode for the May series like the April series with emphasis around the 7850 spot mark. Will elaborate more in the coming sessions .

Nf_compo1

 

NIFTY May F: 

Background / Previous Auctions :

Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-9th-may-13th-may/

#) The NF was a trend day 

#) vwap of the session was at 7875 with volumes of 151.8 L in a session which traded a 7912-7775 range of 128 points

#) Day POC was at 7867

#) Volume was over  the  average seen recently

 

#) Further sellers are up at  7955

#) Support for the current leg of the auction is at 7780 and at 7680 F .

#) Value areas are at  7899-7867-7840– 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 May F:

 

BNF_compo

 

Background/ Previous Auctions :

Weekly levels: We have done a review on weekly charts at:  http://vtrender.com/nifty-bn-weekly-view-spot-for-9th-may-13th-may/

#) The BNF was also a trend day 

#) vwap of the session was at 16643 with volumes of 29.5 L in a session which traded a 16795-16407 range of 365 points

#) day POC was at 16650 levels 

#) Value areas are at 16761-16650-16588 for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

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