Levels and Plan for 6th Oct

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At Vtrender, we say knowing the Open right is half the job done and knowing which hypo is playing out is the other half. Today’s open was once again a call to imbalance and took the market to a close at the other end. Knowing the Open would have helped you anticipate the close also today.  More on Opens at http://vtrender.com/glossary/open/

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-05-oct-09-oct15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The NF profile was an Open Drive away from the previous day’s value area.
#)  vwap of the day was at 8087 with volume of 119.4 L in a  trade which worked an 8145-8030 range of 115 points

#) Day POC was at 8069 levels and lower 

#) Profile created value higher for the fourth straight day.
#) The OrderFlow of today shows sellers as we hit the highs

#) Value areas are at  8116-8068-8044– 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 8130 ( K.R.A= key reference area)

 

Hypo1 ) If NF auctions above 8184 it could move to 8222 and 8253. SL for this view is 8130

Hypo 2) IF NF auctions below 8106  it could move to 8066 and 7952. Sl for this view is 8145

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-05-oct-09-oct15/

Observations in Today’s/ Previous sessions:

(based on Fut prices)

#) The BNF profile was also an Open drive and away from the 3 day range
#) vwap was at 17607 with volumes of 41.5 L in a trade which worked a 17744-17356 range of 388 points.

#) day POC was at 17616

# Profile shows an imbalance to 17840 an 18130.
#) Value areas are at 17712-17616-17552 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 17340  ( K.R.A= key reference area)

Hypo1 ) IF BNF auctions above 17845  it could move to 17955 and 18055. Sl for this view is 17730.

Hypo 2) If BNF auctions below 17620 it could move to 17514 and 17340. SL for this view is 17748.

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.

One thought on “Levels and Plan for 6th Oct

  1. Tracking Hypos

    NF Hypo1 not activated (stayed above entry only in opening ticks)
    NF Hypo2 not activated (traded just 1 tick below entry)
    BNF Hypo1 not activated (only first few ticks were above entry)
    BNF Hypo2 Stop triggered

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