The IPM continues lower from 8005 and in today’s trade we hit 7627 with no sign of a balance forming yet. Remember IPM gets over only when we see a sideways going value and the charts below will not show you one yet. We have used AMT to test the counter trend moves all through the past 6 sessions and they have filled not one of the 3 conditions we track. AMT now gives us a 3I day to see if buyers respond. Sometimes the reaction tells us more about a trend than the initial impulse
Nifty Dec F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-07-dec-11-dec15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF was a Normal variation day and a 3I setup.
#) Vwap of the session was at 7684 with volumes of 120.3 L in a session which traded a 7728-7627 range of 100 points
#) Day POC was at 7642 levels today and lower again.
#) The Profile shows us an FA at 7949F and is on day T+4. It should go down as an unfilled FA ( bearish)
#) we see a composite POC at 7984 in the profile chart posted above and the bias is lower below it.
#) OrderFlow shows us buying attempts made between 7680- 7698 early afternoon, but long liquidation again from 7668 F
#) Value areas are at 7694-7642-7628– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
(based on Dec F)
K.R.A is 7580 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7682 it could move to 7717 and 7796. SL for this view is 7642
Hypo 2) IF NF auctions below 7615 it could move to 7580 and 7558. Sl for this view is 7666
BankNifty Dec F:
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-07-dec-11-dec15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal variation day
#) Vwap was at 16803 with volumes of 26.8 L in a session which traded a 16935-16666 range of 269 points
#) day POC was at 16800 again levels lower than the previous session
#) We see 17227F as resistance on any pullback this week.
#) Value areas are at 16914-16800-16746 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Nov Futures)
K.R.A is 16580 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 16842 it could move to 16935 and 17116. Sl for this view is 16740.
Hypo 2) If BNF auctions below 16663 it could move to 16570 and 16485. SL for this view is 16765.
All Hypos to be traded with the mentioned stops and mechanically. If in the trading room, can use the Order Flow to qualify the entry and exit for the hypos.