Levels and Plan for 7th Oct

Once again the Open was instrumental in setting up the initial bias for the day. However, there was a strong responsive buying program from the lows and the Nifty finished just above day vwap. 

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 towards the previous day VA
#)  vwap of the day was at 8141 with volume of 110.4 L in a  trade which worked an 8190-8105 range of 85 points

#) Day POC was at 8124

#) Profile created value higher for the fifth straight day.
#) The OrderFlow of today shows buyers near the lows repairing the flow from yesterday

#) Value areas are at  8122-8124-8158– 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 8190 it could move to 8219 and 8248. SL for this view is 8160

Hypo 2) IF NF auctions below 8133  it could move to 8104 and 8047. Sl for this view is 8165

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 towards the previous composite VA
#) vwap was at 17653 with volumes of 38.5 L in a trade which worked a 17860-17542 range of 318 points.

#) day POC was at 17658

# OrderFlow shows Buying support near VAL today
#) Value areas are at 17694-17658-17586 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 17780  it could move to 17890 and 18075. Sl for this view is 17680.

Hypo 2) If BNF auctions below 17570 it could move to 17458 and 17330. SL for this view is 17678.

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.