We had a balanced profile and a gaussian distribution today after the trend day yesterday. Buyers were seen climbing back into the auction after staying away all day yesterday.
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/
The nifty view has been updated in the above post on 27/07
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF Profile was seen balancing today.
#) vwap of the day was at 8372 with volume of 132.9 L (Same as the Previous session)
#) Again today the entire session was below VAL and one attempt to cross above VAL was met with failure.
#) We see a failed auction at 8411 today.
#) Buying was seen at 8331 today, the same kind as the one we had noted back on 10/ 11 july.
#) However the close was weak below 8362 F and the NF runs the risk of seeing 8220 in the coming week .
#) Value areas are at 8394-8374-8356 – 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 8322 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8382 then it can move to 8408 and 8450. . Sl for this view 8322
Hypo 2) If NF auctions below 8322 it can move to 8301 and 8276. Sl for this view is 8361.
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 has been updated in the above post on 27/07
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile auctioned was a normal distribution with a prominent poc
#) vwap was at 18314 with volumes of 31.5 L ( Same the previous session)
#) Auction was in the lower range of yesterday’s trading
#) We see a failed auction at 18907 which was the support previously and now resistance. It is on day T+2
#) A buying tail visible at 18191 today.
#) Value areas are at 18370-18315-18285 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Futures)
K.R.A is 18245 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 18403 then it can move to 18478 and 18555 . Sl for this view is 18255
Hypo 2) If BNF auctions below 18245 then it should attempt to move to 18180 and 18040 . Sl for this view is 18359