The NF trended lower all day on Tuesday and finished in a spike.Wednesday’s Mahurat Session was in the last hour spike of Tuesday. 7790 and 7838 remain 2 pivot points for Friday’s session.
Nifty Nov F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-09-nov-13-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF was a trend day again and finished at the lows on Tuesday
#) Profile shows the vwap of the previous trend up day being broken and an auction below the spot.
#) Day POC was at 7800 levels
#) Value areas are at 7866-7800-7794– 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 Nov F)
K.R.A is 7918 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7839 it could move to 7879 and 7987. SL for this view is 7802
Hypo 2) IF NF auctions below 7760 it could move to 7720 and 7680. Sl for this view is 7802
BankNifty Nov 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-09-nov-13-nov15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a neutral extreme day with a close at the lows on Tuesday
#) day POC was at 16890 levels
#) Value areas are at 16998-16890-16848 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 16980 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 16970 it could move to 17055 and 17140. Sl for this view is 16856.
Hypo 2) If BNF auctions below 16794 it could move to 16705 and 16655. SL for this view is 16895.
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.