We got a neutral extreme day. The trend confirmation we were waiting for from 7970 is now playing out and the markets are back in imbalance.We see an FA at 7949F today which tells us even more that one-time frame is emerging stronger. As we move into a previous balance, the setups are compelling.
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 a Neutral extreme day with a close at day lows
#) Vwap of the session was at 7922 with volumes of 94.2 L in a session which traded a 7949-7878 range of 70 points
#) Day POC was at 7914 levels.
#) The Profile shows us an FA at 7949F today
#) we see a composite POC at 7984 in the profile chart posted above and the bias is lower below it.
#) 7910 NF support has been broken and the NF should move to 7822 and even 7754F.
#) Value areas are at 7936-7914-7908– 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 7913 it could move to 7938 and 7996. SL for this view is 7870
Hypo 2) IF NF auctions below 7866 it could move to 7830 and 7754. Sl for this view is 7917
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 also a neutral extreme day like the NF
#) Vwap was at 17219 with volumes of 21.5 L in a session which traded a 17314-17130 range of 185 points
#) day POC was at 17226 levels
#) The BNF also has moved to the edge of the profile dated 23/11 but shows huge selling from 17580 now shifting the immediate bias lower.
#) The BN spot finished at the HVN of 17070 mentioned in the weekly report
#) Value areas are at 17262-17226-17262 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 17231 it could move to 17295 and 17440. Sl for this view is 17130.
Hypo 2) If BNF auctions below 17105 it could move to 17045 and 17004. SL for this view is 17205.
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.