Evening report trade dated 21st July

Posted on Posted in Blog

We rotated lower again today in a trend day of the 3IB type. The balance post that big IPM is now clearly visible and it is obvious the market is waiting on new information ( GST passage?) before resumption of a new leg or a new IPM. Till then the balance will continue.

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 Trend day today 

#) vwap of the session was at 8557 with volumes of 91.9 L in a session which traded a 8590-8511 range of 79 points

#) Day POC was at 8519, lower than the 8580 seen the previous session.

#) The auction in step 2 is now visible to all/

#) Volume was at the  median of the past 5 sessions .

#) We rotated lower all day and closed near the composite POC of the new balance at 8517 today.

#) 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  8569-8519-8514– 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 Trend day lower

#) vwap of the session was at 18872 with volumes of 34.6 L in a session which traded a 19060-18960 range of 350 points

#) day POC was at 18819 levels 

#) Auction has repaired the 2 anomalies at 18722-755 in today’s auction.

#) Upon repair the logical step would be to move upwards again. We see if it comes through in tomorrow’s session.

#) The buying tail off 18570 is a major support

#) Value areas are at 18973-18819-18774  for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/