There was evidence again in Friday’s auction that the step 2 of the auction from 68xx levels is over and the markets were poised to rally again in the coming week. We look to see if we get confirmation of the same
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-14-march-18march/
#) The NF was a Normal Day
#) Vwap of the session was at 7504 with volumes of 154.7 L in a session which traded a 7544-7447 range of 97 points
#) Day POC was at 7519 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 7540-7519-7492– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
K.R.A is 7580 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-14-march-18march/
(based on Fut prices)
#) The BNF was also a Normal day with limited range expansion
#) vwap of the session was at 15236 with volumes of 44.1 L in a session which traded a 15410-15060 range of 349 points
#) day POC was at 15145 levels
#) Auction seems to be in Step2 of the Steidlmayer 4 step process.
#) Value areas are at 15285-15145-15085 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/–
K.R.A is 15410 Mar F ( K.R.A= key reference area)
and the trend is sideways now