Levels and Plan for 17th July

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The NF and BNF trended again today and were in imbalance at the close.The break above 8440 spot has yielded the 8620 spot we discussed in the weekend post last friday. The BNF also is in the heavy supply zone near 18300 spot. As mentioned yesterday the auction is not yet showing dominant sellers and chances of even 8720 F by tomorrow close are huge.

Nifty July 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-13-july-17-july15/

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) NF Profile trended higher off the Open again today and closed at the highs for the second day in a row
#)  vwap of the day was at 8595  with volume of  95.4 L (Same as  the Previous session)
#) The Day type was a normal variation day with a positive range extension.

#) Another buying tail seen at 8560 today

#) we also  see a buying tail for 8464 in wednesday’s profile which is new support for the index.

#) Auction has reached the 8630 F objective but showing no signs of stopping. we will be trading for 8720 F again above 8630.

#) Value areas are at 8620-8588-8564 – 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 July F)

K.R.A is 8601 ( K.R.A= key reference area)

Hypo 1) If NF auctions above 8655  then it can move to 8682 and 8702. . Sl for this view 8613

Hypo 2) If NF auctions below 8601 it can move to 8582 and 8512. Sl for this view is 8655

 

BankNifty July 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-13-july-17-july15/

The Banknifty view is in the above link below the Nifty view.

Observations in Today’s/ Previous sessions :

(based on Fut prices)

#) The BNF profile was seen trending higher today.
#) vwap was at 19106 again with volumes of 35.5 L (More than the previous session)

#) Day was a clean break above the 3 day value area.

#) Anomaly seen at 19085 F
#) Day shows a Failed Auction at 18581 at the lows of Friday and another at 19008 at the highs of Tuesday.
#) Value areas are at 19245-19240-19055 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Futures)

K.R.A is 19111 ( K.R.A= key reference area)

Hypo 1) If BNF auctions above  19260 then it can move to 19330 and 19445. Sl for this view is 19160.

Hypo 2) If BNF auctions below 19111  then it should attempt to move to 18996. Sl for this view is 19195

2 thoughts on “Levels and Plan for 17th July

  1. Tracking hypos

    NF Hypo1 not activated
    NF Hypo2 not activated
    BNF Hypo1 Stop triggered
    BNF Hypo2 not activated

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