Evening report trade dated 26th July

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In late afternoon trade, we spiked lower to the composite highs of the July Bracket in NF and the lows of the old composite in BNF. Ardent followers of Auction Market Theory know that a spike is an incomplete auction and would wait out the next open for confirmation. There is info present in the current market environ and a call to action.

 

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-25th-july-29th-july/

Background / Previous Auctions :

#) The NF was a Neutral day with an FA ay 8652.

#) vwap of the session was at 8629 with volumes of 137 L in a session which traded a 8652-8576 range of 76 points

#) Day POC was at 8640, at the same level as  seen in the previous session.

#) The auction spiked into the close today and spike rules apply at the Open.

#) Volume was higher than the  median of the past 5 sessions  and equal to yesterday’s

#) 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  8644-8640-8632– 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-25th-july-29th-july/

 

Background/ Previous Auctions :

 

 

#) The BNF was a Normal Variation Day

#) vwap of the session was at 18979 with volumes of 25.8 L in a session which traded a 19065-18820 range of 245 points

#) day POC was at 19017 levels 

#) Auction stayed into the mini composite range today

#) The buying tail off 18570 is a major support

#) Value areas are at 19056-19017-18963  for bias. For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/