Evening report trade dated 20th July

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We had mentioned in Monday’s evening report that the selling seen from 8590 levels was emotional and lacked value and had called for a revisit to the scene of Monday’s auction in 2 days. We hit the POC of Monday’s auction at 8590  today. The Market Profile way of organising market generated information is amongst the best weapons  a trader can have in his arsenal to prevent short term trading bloopers. Money saved from entering bad setups is money made.

NIFTY July F: 

Nf_compo1

 

 

 

Weekly levels: We have done a review on weekly charts at:  http://vtrender.com/nifty-bn-weekly-view-spot-for-18th-july-22nd-july/

Background / Previous Auctions :

#) The NF was a Normal Variation day  today 

#) vwap of the session was at 8572 with volumes of 71.4 L in a session which traded a 8591-8542  range of 50 points

#) Day POC was at 8582, higher than the 8547 seen the previous session.

#) The auction  has now confirmed step2 and the IPM  is done. 

#) Volume was lower than the  median of the past 5 sessions .

#) We stayed above the neutral extreme of Tuesday and the profile shows a close at the highest point.

#) 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  8589-8582-8569– 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 July F:

 

BNF_compo

 

 

Weekly levels: We have done a review on weekly charts at:   http://vtrender.com/nifty-bn-weekly-view-spot-for-18th-july-22nd-july/

 

Background/ Previous Auctions :

 

 

#) The BNF was a Normal variation day

#) vwap of the session was at 19025 with volumes of 19.5 L in a session which traded a 19070-18911 range of 119 points

#) day POC was at 19028 levels 

#) Auction shows 2 anomalies at 18722-755 which need repair

#) The buying tail off 18570 is a major support

#) Value areas are at 19046-19028-19004  for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

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