Levels and Plan for 06th Aug

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The Nifty repaired the value aberration from yesterday’s move by climbing above yesterday range highs early in the session and creating value higher. However the BankNifty disappointed longs today and may have declared it’s intention to remain sideways for the rest of this week.We spoke about 19070 spot in the weekend post and whilst yesterday highs were at this number, the inability to follow up higher today above this number was a concern.

 

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 P shaped and closed at the prominent POC.
#)  vwap of the day was at 8593  with volume of 75.1 L (Less than the Previous session)
#) The NF repaired the aberration in value yesterday by auctioning and creating value/volume higher

#) Profile gives us a very important reference area at 8588 for the remainder of this week.

#) Some sellers were seen near 8615  today

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

#) We maintain that the auction has to travel up to 8630 and 8670F in next few sessions to check for sellers.

 

#) Value areas are at 8602-8594-8588– 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 8548 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8616  then it could move to 8640 and 8663. . Sl for this view 8589

Hypo 2) If NF auctions below 8572 it could move to 8550 and 8505. Sl for this view is 8605.

 

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 failed to follow up above yesterday highs 
#) vwap was at 19051 with volumes of 24.5 L  ( Less than the previous session)

#) Auction shows responsive selling from 19139 fr the second straight day.

#) A buying tail also visible at 18305 
#) Value areas are at 19100-19040-18980 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 18810 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  19065 then it could move to 19155 and 19232 . Sl for this view is 18960.

Hypo 2) If BNF auctions below 18820 then it could attempt to move to 18716  . Sl for this view is 18925

2 thoughts on “Levels and Plan for 06th Aug

  1. Tracking Hypos

    NF Hypo1 met objective at 8640
    NF Hypo2 stop triggered
    BNF Hypo1 met objective at 19155
    BNF Hypo2 not activated

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