Nifty JAN F  |
| Background / Previous Auctions : Medium Term : On Friday May 16th 2014, we saw a range of 7560- 7125 (spot prices) and we believe it forms the backdrop of the moves we may see in the Nifty for a considerable amount of time, as it was a 5 sigma event.The auction remains positive as long as we close above the highs of that day (May16).
There was a failed auction noted at the lows on 17/10 at 7723 which is a reference point for the future.
Weekly levels :
(On spot prices)
For the coming week, support rests at 8224 levels.A close above 8330 spot levels should produce 120 points of upside to 8452 during the week.
the 120 point move came and 8452 is new support for the index
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Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The NF profile was a neutral day with a morning seller and afternoon buyer. #) Volume was 208 L and higher than yesterday #) There is a failed auction noted at the lows of 8427 today #) The profile is now into step 3 in the SteidlMayer Process #) OrderFlow showed sellers adding shorts above 8465 levels. #) The excess of 6th Jan is now replaced by a gap from 8348 to 8427 levels. #) vwap of the day was at 8488 well above the 8298 of yesterday #) The profile can still produce a move to 8656 F tomorrow if it scales above the 8562 levels,
Hypothesis :
( Based on Futures)
K.R.A is 8565 ( K.R.A= key reference area)
Hypo1 ) If NF auctions above 8566 then it will move to 8610 and 8656 . Sl for this view is at 8512.
Hypo2 ) If NF auctions below 8521 then it will move to 8481 and 8465 Sl for this view will be 8563.
BankNifty JAN F : |
| Background/ Previous Auctions :
Medium Term- 18400 BN spot will be the key level to watch in BN over the coming weeks on a closing basis. As long as price stays above 18400 weekly closing the BN can make a move to 23500 levels. Highest volume traded in BN in 2014 was at 15100- 15200 spot levels. This 15100 will be the second layer of support in BN below 18400.
Weekly levels :
(based on spot prices)
For the coming week 18600 and 18400 spot are 2 supports for the index. The 18860 spot zone is now new support.
Observations in Today’s session :
(based on Fut prices)
#) The BNF profile gapped up above supply and traded a 400 point range #) Volumes were at 52 L #) vwap was at 19270 against the 18690 from yesterday #) A gap remains between 19115 and 18769 F
Hypothesis :
( Based on Futures)
K.R.A is 19201 ( K.R.A= key reference area)
Hypo1) IF BNF auctions above 19410 then it will hit 19520/ 19593 . Sl for this view is 19315.
Hypo2) If BNF auctions below 19265 then it can move to 19205 and 19120. Sl for this view is at 19314 now
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