The markets trended higher into the close today led by a double distribution in the NF and a trend day off a Gaussian Profile which we had seen yesterday in the BNF. It’s clearly buyers in control as value continues to be driven higher.
NIFTY July F:
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-11th-july-15th-july/
Background / Previous Auctions :
#) The NF was a Double Distribution Trend day
#) vwap of the session was at 8552 with volumes of 78.8 L in a session which traded a 8584-8509 range of 75 points
#) Day POC was at 8556 levels
#) The auction likely to remain in a 8480- 8590 range for the next few sessions
#) Volume was at the average of the past 5 sessions .
#) We note an FA at 8186 on 29/06. It has not been visited in T+5 and hence is a support now for the swing.
#) Value areas are at 8580-8556-8543– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
BankNifty July F:
Background/ Previous Auctions :
#) The BNF was a Trend day
#) vwap of the session was at 18798 with volumes of 30 L in a session which traded a 18921-18528 range of 324 points
#) day POC was at 18896 levels
#) We saw a trend day of the type we spoke about in yesterday’s report
#) Value areas are at 18920-18896-18720 for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/–