Levels and Plan for 1st Oct

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The week is moving to the plan made on the weekend and the first supply point in Nifty is close by. The BN has already reacted from the weekly supply zone yesterday. Today’s auction was bullish and 7997F and 17610F remain our reference lines for more upsides.

Nifty Oct 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-28-sept-01-oct15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The NF profile consolidated in the upper range of yesterday’s trend day but spiked into the close
#)  vwap of the day was at 7931 with volume of 133.3 L in a  trade which worked a 7989-7994 range of 96 points

#) Day POC was at 7920 levels near the lower half

#) Profile closed above the FA point of 7930 today confirming a short term bullish upside to a possible 8100 zone
#) The OrderFlow of today shows buyers  at 7900-7930 but the spike saw sellers .

#) We see 7930 as an important support tomorrow below which the auction can again drop to 7870 and lower

#) Value areas are at  7980-7976-7920– 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 Oct F)

K.R.A is 7920 ( K.R.A= key reference area)

 

Hypo1 ) If NF auctions above 8017 it could move to 8050 and 8080. SL for this view is 7980

Hypo 2) IF NF auctions below 7952 it could move to 7920 and 7828. Sl for this view is 8005

BankNifty Oct 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-28-sept-01-oct15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF profile was a b shaped profile and closed near vwap
#) vwap was at 17322 with volumes of 47.1 L in a trade which worked a 17534-17181 range of 352 points.

#) day POC was at 17307 levels almost the same as yesterday

# Profile shows support at 17140 again for the session tomorrow

#)OrderFlow was neutral but di buyers came at the lows.
#) Value areas are at 17343-17307-17217 for bias. . For using value areas effectively visit: http://vtrender.com/popular-market-profile-trading-setups/

 

Hypothesis :

( Based on Oct Futures)

K.R.A is 17152  ( K.R.A= key reference area)

Hypo1 ) IF BNF auctions above 17490 it could move to 17571 and 17650. Sl for this view is 17390.

Hypo 2) If BNF auctions below 17139 it could move to 17085 and 16942. SL for this view is 17208.

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.