At the close the NF and the BNF stayed in balance . The attempt in the first 5 minutes of trade was negated strongly and the technical 80% rule took the NF to 8525 VAH and the rest of the day was spent between POC and VAH.
Nifty Aug F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-17-aug-21-aug15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The NF profile showed buyer strength ( change from past 2 sessions) at the open today
#) vwap of the day was at 8493 with volume of 95.1 L in a trade which worked a 8534-8426 range
#) The Profile closed just above day vwap and POC in balance today again confirming a neutral position in the market
#) OrderFlow shows buyers at the lows near 8440 levels and the seller from 8540 was pushed on the backfoot by a bit.
#) Larger Auction is showing big buying support at lows but needs more buying strength above 8550 levels to progress higher. There is also a hint of the support base eroding.
#) Value areas are at 8522-8502-8484– 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 8435 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8544 then it could move to 8582 . Sl for this view 8501.
Hypo 2) If NF auctions below 8471 it could move to 8435 Sl for this view is 8505.
BankNifty Aug 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-17-aug-21-aug15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile again saw buyers defending 18650 for the fourth straight day
#) vwap was at 18745 with volumes of 23.7 L in trade which worked a 18837-18650 range
#) Day type was a neutral center closing at POC and will set the ground up for a trending move tomorrow.
#) Value areas are at 18775-18735-18710 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 18620 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 18810 then it could move to 18870 and 18950.Sl for this view is 18710
Hypo 2) If BNF auctions below 18620 then it could attempt to move to 18520 . Sl for this view is 18725