The NF auctioned below VAL all day and went southwards by the close to revisit the weekly lows and close down for the week at the lows. Once again the auction was a spike and we wait out the market open on Monday to confirm or deny.However EOD data at the close did not point to any short buildup in the session and the move can be attributed to profit booking ahead of expiry week.
Nifty July F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-27-july-31-july15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF Profile was seen auctioning below VAL (8598) all day and collapsed at close
#) vwap of the day was at 8571 with volume of 79.9 L (Less than the Previous session)
#) After auctioning below POC the previous session, friday’s session was entirely below VAL. These are small hints the markets keep throwing at us as we follow the “footprints” in the sand.
#) The buyers of the previous day at 858 were seen liquidating their positions.
#) Our charts showed buying attempts at 8526 just before the close
#) Value areas are at 8592-8584-8556 – 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 July F)
K.R.A is 8504 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8564 then it can move to 8590 and 8648. . Sl for this view 8531
Hypo 2) If NF auctions below 8504 it can move to 8475. Sl for this view is 8547.
BankNifty July 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-27-july-31-july15/
The Banknifty view is in the above link below the Nifty view.
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile was a neutral extreme which failed to move above POC of the previous session.
#) vwap was at 18810 with volumes of 25.5 L ( Less than the previous session)
#) Auction was in the spike zone of 22/07.
#) We see a failed auction at 18907 which was the support previously.
#) Anomaly in the profile is at 18720.
#)The zone around 19000 has now the highest volume built up in the series and the BNF is not moving away from it.
#) Day shows a Failed Auction at 18581 at the lows of 10/07 which has not been revisited.
#) Value areas are at 18892-18780-18748 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Futures)
K.R.A is 18555 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 18770 then it can move to 18860 and 18910. Sl for this view is 18665.
Hypo 2) If BNF auctions below 18555 then it should attempt to move to 18504 and 18470 . Sl for this view is 18610