The first day of the series was different to the expiry day and again the series vwap point played a role in projecting the index upwards to 8579 F by close.It was a 100 Point rise with OTF presence and a range extension.
Nifty Aug F :
Background / Previous Auctions :
Weekly levels : We have done a review on weekly charts at : http://vtrender.com/nifty-bn-weekly-view-spot-for-03-aug-07-aug15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) NF Profile was a trend day higher
#) vwap of the day was at 8534 with volume of 106.0 L (More than the Previous session)
#) The NF crossed over VAH again today for the second straight day
#) The failed auction at 8451 Aug F was revisited today and will now function as a support
#) Buying again was seen at 8336 , the same kind as the one we had noted back on 10/ 11 july.
#) Profile shows anomalies at 8546 and 8518. POC of the day profile is 8564
#) Value areas are at 8578-8564-8532– 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 Aug F)
K.R.A is 8538 ( K.R.A= key reference area)
Hypo 1) If NF auctions above 8578 then it could move to 8607 and 8640. . Sl for this view 8533
Hypo 2) If NF auctions below 8538 it could move to 8504 and 8478. Sl for this view is 8578.
BankNifty Aug 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-03-aug-07-aug15/
Observations in Today’s/ Previous sessions :
(based on Fut prices)
#) The BNF profile trended higher through the day
#) vwap was at 18735 with volumes of 29.5 L ( More than the previous session)
#) Auction was seen moving above the selling prints of 27/07 which is a positive step
#) We see a failed auction at 19015 Aug F which was the support previously and now resistance. It is on day T+5
#) A buying tail visible at 18305
#) Profile shows anomalies at 18670 and 18735.
#) Value areas are at 18896-18812-18688 for bias. . For using value areas effectively visit : http://vtrender.com/popular-market-profile-trading-setups/
Hypothesis :
( Based on Aug Futures)
K.R.A is 18670 ( K.R.A= key reference area)
Hypo 1) If BNF auctions above 18940 then it could move to 19020 and 19070 . Sl for this view is 18820.
Hypo 2) If BNF auctions below 18670 then it could attempt to move to 18560 . Sl for this view is 18755