Levels and Plan for 04th Aug

The day after the trend day was a quite 40 point range in the Nifty and a 235 point upmove in the BNF all of which was done in the first hour.

 

Nifty Aug F :

 

 

Nf_Compo1

 

Background / Previous Auctions :

Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-03-aug-07-aug15/

 

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) NF Profile was a balanced profile today
#)  vwap of the day was at 8572  with volume of 52.7 L (Half of the Previous session)
#) The NF crossed over VAH again today for the third straight day

#) Profile shows buyers at 8552 today

#) The  failed auction at 8451 Aug F was revisited today and will now function as a support

#) Buying again was seen at 8336 , the same kind as the one we had noted back on 10/ 11 july.

#) Profile shows anomalies at 8546 and 8518. POC of the day profile is 8564

#) Value areas are at 8580-8568-8564– 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.

 

Hypothesis :

(based on Aug F)

K.R.A is 8533 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8578  then it could move to 8607 and 8630. . Sl for this view 8533

Hypo 2) If NF auctions below 8533 it could move to 8510 and 8470. Sl for this view is 8575.

 

BankNifty Aug F :

 Bnf_Compo

Background/ Previous Auctions :

Weekly levels : For Banknifty we have updated a spot auction view with a chart at : http://vtrender.com/nifty-bn-weekly-view-spot-for-03-aug-07-aug15/

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile was a P shaped profile
#) vwap was at 18998 with volumes of 23.5 L  ( Less than the previous session)

#) Auction shows a buying tail from 18835

#) The failed auction at 19015 Aug F was visited on day T+6.

#) A buying tail also visible at 18305 

#) Profile shows anomalies at 18670 and 18735.
#) Value areas are at 19044-18972-18964 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Aug Futures)

K.R.A is 18850 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  19025 then it could move to 19095 and 19232 . Sl for this view is 18920.

Hypo 2) If BNF auctions below 18840 then it could attempt to move to 18776 and 18675 . Sl for this view is 18945