The Nifty closed at the supply band of last week. The day type was a normal variation day. The profile again showed buyers buying the dip from 1 pm onwards.
Nifty Oct F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at: http://vtrender.com/nifty-bn-weekly-view-spot-for-26-oct-30-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF profile was a normal variation day which opened higher but came to test previous day range and value.
#) vwap of the day was at 8312 with volume of 89 L in a trade which worked an 8339-8286 range of 54 points
#) Day POC was at 8320 levels
#) Auction crossed over the 2-day highs and likely to visit 8382/ 8466 F next
#) Value areas are at 8324-8320-8304– 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 8340 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8344 it could move to 8376 and 8390. SL for this view is 8304
Hypo 2) IF NF auctions below 8290 it could move to 8271 and 8250. Sl for this view is 8311
BankNifty Oct 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-26-oct-30-oct15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF profile was a normal variation day
#) vwap was at 17918 with volumes of 34.4 L in a trade which worked a 17996-17851 range of 145 points.
#) day POC was at 17898 levels
#) OrderFlow was mixed in the session.
#) Value areas are at 17934-17898-17886 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 17650 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17995 it could move to 18094. Sl for this view is 17895.
Hypo 2) If BNF auctions below 17895 it could move to 17830 and 17755. SL for this view is 17945.
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.