In Friday’s session we closed above the series vwap of November but not strongly above the 7930- 50 zone we have been watching from July.We are carrying a bullish bias into Monday and looking for a move above 7999F to confirm the same.
Nifty Dec F:
Background / Previous Auctions :
Weekly levels: We have done a review on weekly charts at:http://vtrender.com/nifty-bn-weekly-view-spot-for-30-nov-04-dec15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The NF was Normal day .
#) Vwap of the session was at 7954 with volumes of 105.1 L in a session which traded a range of 7959-7879 of 72 points
#) Day POC was at 7972 levels
#) Value areas are at 7980-7972-7944– for the session tomorrow. For using value areas effectively visit:http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
(based on Dec F)
K.R.A is 7905 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 7999 it could move to 8023 and 8052. SL for this view is 7955
Hypo 2) IF NF auctions below 7951 it could move to 7927 and 7865. Sl for this view is 7987
BankNifty Dec 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-30-nov-04-dec15/
Observations in Today’s/ Previous sessions:
(based on Fut prices)
#) The BNF was a normal variation day
#) Vwap was at 17343 with volumes of 34.8L in a session which traded a range of 17449-17120 of 329 points
#) day POC was at 17430 levels
#) Value areas are at 17436-17430-17310 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 17080 ( K.R.A= key reference area)
Hypo1 ) IF BNF auctions above 17533 it could move to 17647 and 17760. Sl for this view is 17430.
Hypo 2) If BNF auctions below 17314 it could move to 17200 and 16890. SL for this view is 17415.
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.